In Australia, franchises are considered lucrative businesses with returns averaging $81 billion per year. If you are planning to acquire a franchise, you are essentially investing in a brand or an established business, along with its processes, marketing and systems.
A lot of people make the mistake of thinking buying a franchise is like acquiring a business in a box, that you can simply “plug and play.” However, as with any business the franchisee must be a good operator and be aware of the legal requirements that go with running a business.
For one, franchise fees can range from $5,000 to several millions along with some ongoing fees for the support they provide. Needless to say, it is a significant undertaking. While it is true that franchising is among one of the most successful forms of business in Australia, it is still important that the accounting and financial management of the company is handled well.
This is because, acquiring a franchise does not guarantee success. No business comes with guarantees. With the assistance of Nobel Thomas, you can be sure that you are offered excellent, expert business advice every step of the way.
We work to ensure all bases are covered starting from the franchise agreement to the day to day operations. We will make sure the contracts are carefully reviewed by a lawyer and accountant so you know exactly what terms you are agreeing to. Some of the more well-known brands that we have dealt with include: Hairhouse Warehouse, Mister Minit, Subway, Dominos, Endota Spa and Jump Swim School.
If you are ready to take the plunge, an initial meeting will help us to understand your circumstance and determine how we can best help you.