Franchising has been a very successful method of achieving growth for many businesses and will continue to have an impact on Australian business methods. Franchising is capable of harnessing the motivation and entrepreneurship of small business operators and combining this with the marketing, operational and financial strengths of big business.
Lockwood & Ward services the needs of organisations and individuals engaged in or with the potential to be involved in the franchise industry. Our consulting engagements encompass those clients investigating franchise for the first time and also current franchisors who need to improve the system in some way.
Recruitment of Franchisees
who are Business Managers
Firstly let's make it clear we do not just sell franchises. What we do is provide a source of highly qualified informed leads. Our service is based around establishing from a Franchisor the type of person that he or she is looking for. We need to know what skills are required, whether they want an extrovert or an introvert and perhaps even more importantly the actual role that the franchisee will fulfil. Many potential franchisees initially reject a franchise for which they may be ideally suited because they do not understand the role.
In the same way we work with our potential franchisees to establish the skills they have and the type of franchise that they may be interested in. We explain the roles they would be expected to take on and we check the resources that they have available with which to purchase a franchise.
Once the initial work has been done we introduce the potential franchisees to you. We ensure that the potential franchisee that you see understands franchising in general and the role that they would be expected to fulfil. At the same time we ensure that they have the ability to proceed if you both want to.
Unless you require, we do not get involved in the actual sale of the franchise apart from insuring that you see the right people. Our fee structure is based on a mainly results orientated package which is flexible enough to meet the demands of most franchisors and to help you reduce your costs while increasing the number of franchis-ees you take on.
Whether or not a person has an existing business that they wish to develop or a concept to be developed, high expertise is needed to guide such a process. A number of methods are available when a business is looking to expand. The business owner, having maximised profitability using existing methods of operation, seeks available options. The first and most obvious choice is to increase product lines. A second option to expand could be to increase the marketing area which can be accomplished through additional target advertising and/or direct mail. Yet another way for expansion is to open branch offices in other regions. A problem of branch offices even under the best management is lack of central company control, but even more importantly, branch offices often lack the motivation of the original corporate office. The singular, highest motivator in any branch is if that branch is under private ownership. This is an essential criterion for franchising.
Franchising therefore is a partnership between franchisor and franchisee where the franchisor is required to provide the training and ongoing support, utilising their high degree of experience. The franchisee provides the motivation of private ownership. Together they provide a winning combination that result in high profits for the franchisee and ideally, the more money the franchisee makes, the more money the franchisor will make.
Lockwood & Ward's full franchise development program allows a business to begin franchising with a running start. The full program outlined below consists of services normally required by a business to create a comprehensive franchise program, launch a marketing and sales program, and effectively recruit, train and service franchisees.
As our client, we will provide you with virtually all of the resources and services necessary to successfully franchise your business.
End of Year Tax Tips for Everyone
The 30th of June always seems to creep up on people with tax returns to do. In many instances, people who visit accountants to do their...
It is essential to do some planning towards the end of each financial year. It is also necessary to look at what an be done towards the...