FIVE REASONS WHY LAUNCH FRANCHISE IN AUSTRALIA
Franchising is an established lifestyle in Australia, with more franchising sites per capita in comparison with other advanced countries. Foreign franchising industry’s yearly turnover is around US $ 33 million. Moreover, Australia, being the sixth largest country area wise and so less population that it ranks 3rd least densely populated country of the world. It has large space available to welcome migrations. US Citizens are exempt from the visa requirements. Moreover, Australia is the first World Global Recession Free Economy. It has quite high rate of growth and acceptable franchise concept. That is how the US Subway has entered Australia and is progressing at a very high rate in Australia. Another equally successful franchise business model is JIMS GROUP. 7 x 11 has high level of acceptability in Australia. Luxury watch brand Rolex has opened its first standalone Australian Store in Sydney, as the luxury fashion market continues to boom. Similarly, the US box-retail giant COSTCO is also all set to open its fourth Melbourne store. Managing Director and Founder of COSTCO says that COSTCO is the next generation of supermarkets and goes on to add that “A cautious consumer is focused on value. Consumers are currently migrating to Costco and what they do well is including an element of the surprise, a super bargain.” All these developments show it is high time for Entrepreneurs from all over the world, and especially those from US, Canada etc are trying to enter Australian Franchise Market in a big way.
Following are the five good reasons why more and more franchise outlets can be opened and operated upon this fairly franchise friendly country –
ONE - FRANCHISE FRIENDLY LEGISLATION
Australia has well defined and strictly enforceable legislation at the national, state and council levels to protect the interests of the new Franchisees. Franchising in Australia is regulated by Franchising Code of Conduct, a mandatory code made under the Australian Trade Practices Act 1974. The Australian laws requires the Entrepreneur/Franchisor not only to enlighten the prospective/new Franchisee with all details and ensure that the Franchisee understands that it has a viable concept, ongoing market demand, replicable systems, and a management, logistic, marketing and training structure capable of supporting franchisees in a variety of locations, but also produce a Disclosure Document which must be given to the prospective franchisee at least 14 days prior to entering into a Franchise Agreement. The Code is enforced by the Australian Competition and Consumer Commission and the penalties for breaching the Code are quite severe.
TWO - ACCEPTABLE FRANCHISE CONCEPT
Franchising in Australia is booming! Franchising is an exciting and effective method for expanding a business. Australian general population is quite enthusiastic about the Franchise business and that is why businesspersons from around the world are trying to rush to Australia to buy and establish franchise outlets. The Griffith University’s Survey on Franchising showed that Franchising in Australia was stabilising and maturing with some impressive statistics. “If you are one of the million small and medium (SME) business owners in Australia there is a fairly good chance that at one time or another you have pondered the questions of business growth” James Corne, M.Com (NSW).
THREE - AVAILABILITY OF ENTREPRENEURS
Australia has a fairly large Entrepreneur population. These entrepreneurs are always looking forward to franchising their business not only for their own profit but also to ensure that the Franchise business flourishes in Australia. Besides, a good number of Expert Consultants too are available in Australia. These consultants advise and help the prospective franchisees to prepare their franchise outlets and they also attend to the multifarious actions required on behalf of the Franchisees for a small fee. In other words, if a prospective franchisee is interested and has requisite money he/she can take the help/assistance/guidance of these Consultants and move forward. Business2sell offers a list of services on their website /business-services/ to help connect to the right business services. These include Franchise consultants, Accountants, Business Coaches, Lawyers, etc.
FOUR - FRANCHISE BROKERS
There are nearly 100 independent brokers in Australia. Each broker maintains a Directory for display of details and listings along with the number of business available for sale, under offer and also sold. They help/assist/guide both the Entrepreneur for selling his franchisee outlets and the prospective franchisees for buying an outlet matching with his/her capacity to buy.
FIVE - FRIENDLY VISA FACILITIES
Australian Emigration/visa rules are comparatively easy and simpler, unlike tough rules of US/UK. In the last year, more than 6 Lakhs visitors came to Australia under Visitors’ visa. Similarly, over 2.50 lakhs got Work Visa, and about 1.50 lakhs actually migrated to Australia under PR. Moreover, US citizens are exempt from the Visa requirements.
These are some of the 5 good reasons why one should set up Franchise business in Australia and benefit from the flourishing franchise business and on the other hand help boost franchise business in Australia.
To find out who can help you set up your franchise in Australia please go to /launch-franchise-in-australia/