4 minute read
Hydraulink
Hydraulink National Franchise Manager, Wayne Abbott discusses the most important things to look for in a franchise, and how to determine which opportunity is the best fit.
The franchise sector is growing, and despite the impacts of Covid-19, its contribution to GDP was up on the previous year. There are scores of good franchise opportunities out there, but how do you pick one that’s going to set you up for success, right from the start? For years, Hydraulink has provided proven business systems where individuals and families can invest to grow a successful business of their own to secure their future. Hydraulink operates through more than 400 services points across Australia, New Zealand, and the Pacific Islands, and is a dynamic brand poised for further growth in these regions. Just about every piece of machinery – fixed or mobile – relies on hydraulic hoses and fittings to function, so there is an inexhaustible supply of customers, which will only continue to grow as machinery becomes more sophisticated. These customers are particularly looking for qualities Hydraulink seeks to embody throughout its organisation and network for franchisees – a focus on high quality, outstanding service, and total safety and standards compliance. With the impacts of Covid-19, people that have experienced redundancy, or are sick of lengthy quarantine waits with Fly In Fly Out (FIFO) work, are turning to franchise options to secure their future and financial freedom.
Hydraulink franchises can either be mobile service businesses (like the one pictured above from Portland, Victoria), or full hose centres, which can have mobile service businesses linked to them.
In our experience, here are five things to look for when purchasing a franchise:
1. Market Opportunity.
It’s important to determine the market opportunity and size, and see how robust the market is during different times such as the pandemic. It’s also worth considering what the demand is for products and services and whether the product is essential by keeping many industries moving. Then, look at the ability to compete in a mature market due to buying power, better product sourcing, and group marketing.
2. Financial Performance.
Look at both ends of the spectrum here – see how financial performance stacks up for start-up and mature franchises already in the system. Look for sound financial performance amongst franchisees, low turnover rate of franchisees (with few terminations), examples of best practice, and the ability for multiple site ownership.
3. Culture.
This can be crucial to an individual’s success within a company. It’s important to investigate the company’s foundation, culture and support. Check its approach to training and safety practices, as this is often a good sign of how invested the company is in its franchisees.
4. Differentiation.
What sets this franchise opportunity apart from other equivalent opportunities currently available? For example, does it enable you to make a desirable lifestyle change, learn a new skill, provide additional financial security, be in charge of your own career direction, or have the outstanding support of a proven model?
5. Advantages.
Look at how the franchise model compares to direct competitors. Does it suit your budget, and does the company provide financial support for approved candidates? Look at the ability to grow and develop within the business, and expand to multiple sites for those that are ambitious and entrepreneurial. Once you’ve found an opportunity that ticks all the boxes above, and looks to be the real deal, talk to an existing franchisee, and see how the company continues to support them throughout their business journey. If the company supports its franchisees, they will encourage you to speak with them first-hand.
Investing in people: the hydraulink difference
Hydraulink has always believed in investing heavily in the future of its workforce, and this is paying handsome dividends throughout the organisation. Hydraulink’s flexible franchise model is structured to support and advance people as far as they can go, right through to owning their own business, and boosting jobs and skills in their local communities.
As part of the company’s commitment to supporting all of their franchisees, Hydraulink provides ongoing training and support through its own highly regarded Hydraulink Academy, a comprehensive and customised induction program. Additionally, the company provides ongoing marketing support – without a separate marketing levy charge. So, for those self-starters out there looking to take control of their future, now is a great time to look at franchise opportunities. We’d be delighted to have you speak to our franchisees and hear their success stories.
Hydraulink has particularly found that people with a mechanical aptitude, experience in automotive, diesel and plant mechanics, fitting and turning, pipeline drilling, maintenance fitting or aircraft aviation make excellent Franchisees for their industry.
For franchise enquiries, please contact Wayne Abbott, National Franchise Manager – Hydraulink Australia, Ph: 0455 478 699, wayne.a@hydraulink.com.au Or visit www.joinhydraulink.com to discover franchise opportunities near you.
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