Inside Franchise Business Feb/April 2020

Page 12

GLOBAL EYE

BRAND BUSINESS The big stories in franchising that you need to read.

CAFE CHAINS ARE RATED TOP PERFORMING BRANDS Muffin Break and Jamaica Blue are the latest to list as high-performing brands through the Australian Franchise Rating Scale. Ratings are allocated after an independent and fact-based assessment across seven key categories designed to measure both transparency and performance. In achieving this strong (4 star) rating, both brands have been able to demonstrate a high level of transparency and a high level of franchise performance. Darryn McAuliffe, CEO of FRANdata, which reviewed the franchises, highlighted that Foodco is one of the first large franchise hospitality groups to understand the importance of having external independent assessment of its systems and processes. “The review team was particularly impressed with the positive financial impact a number of Foodco initiatives were delivering to franchisees,” he said. “Franchisees of both Foodco brands also enjoyed a superior level of support around business performance and compliance programs.” n

“THANKS BUT NO THANKS, SHARKS” Two years since turning down an offer on TV show Shark Tank, SpeedFit has tripled the size of its business, surging ahead with year-on-year double digit growth in Australia’s competitive fitness industry, and attracting lucrative medical investors from the Middle East. SpeedFit offers an alternative to high intensity, high impact activity with a workout tailored to individual needs, from people with disabilities to seniors, the injured and elite athletes. The business appeared on Shark Tank but rejected investment from Boost Juice founder Janine Allis and Dr Glen Richards. SpeedFit CEO and founder Matej Varhalik took a step back to set the business on a sustainable path, after realising the target of 15 studios in a short period of time was risky. As a result of the fine-tuning SpeedFit increased profit by 23.98 per cent but also decreased wages/cost of labour by 6.15 per cent. The business has also seen a 60 per cent growth in sales from $2.1 million to more than $3.5 million, with projections of $5 million this financial year. The brand’s performance and growth from five locations to 15 has attracted investment from the founders of a Middle Eastern private hospital medical empire, the Shetty family, who are also part of the Forbes 1000 international list. Neema and Sharad Shetty, who are based in Perth, came across SpeedFit as clients and were excited enough by the use of technology to fill a gap in the fitness market that they invested in an individual studio in Western Australia. The business model proved so effective the pair have now made a sizeable, but minority, investment in the parent company. n

US CHAIN LANDS IN AUSTRALIA

Massive US gym giant Planet Fitness is officially on its way Down Under, after the brand announced two new partnerships. The Planet Fitness Australia expansion is set to deliver a minimum of 35 new studios nationwide, significantly bolstering the chain’s global footprint. The latest development has been an enormous undertaking for the international conglomerate, which boasts more than 14 million members across all 50 US states, Canada and South America. The new Planet Fitness Australia venture will operate as a franchisee of the US business, with all sites to be owned and operated centrally. n

MOVING ON, MOVING IN Craveable Brands group CEO and director Brett Houldin has stepped down after five years with the umbrella group for three iconic Aussie brands, Red Rooster, Oporto and Chicken Treat. Experienced retail executive Karen Bozic (Caltex, Woolworths, Rebel Sport) took on the role of group chief at Craveable Brands in December. Seasoned franchisor and former MD of Fastway Couriers Australia Richard Thame is taking on the role of CEO at Snap Print & Design. Thame has more than 20 years’ experience in senior roles with big-name brands such as McDonald’s, Greater Union Cinemas and Thrifty Car Rental. n

GONGS AND AWARDS At the Australian and New Zealand Golden Bean Awards, the world’s largest coffee roasters’ competition, Zarraffa’s Coffee picked up six bronze medals. The chain utilises gas fired air roasters, harnessing a stream of hot air to roast the coffee beans, causing them to flow or to swirl, leaving clean, fresh and palatable coffee beans with the signature Zarraffa’s taste.

TECH TALK

A new ActionCOACH online portal provides business owners with detailed information and insights on their operation, better preparing them for future growth. It’s a boon for ActionCOACH clients, who can now set goals, track performance, identify trends and chart growth. The new portal sees business objectives and insights split into a series of easy-touse tabs, where owners can set specific goals over a five-year period.

FEB/APR 2020 | 12 | WWW.FRANCHISEBUSINESS.COM.AU


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Articles inside

FINAL WORD

2min
pages 162-164

RESOURCES

34min
pages 153-161

CHECKLIST

1min
page 152

INFLUENCERS

3min
page 151

BUYING PROCESS

1min
page 150

5 SKILLS THAT LEAD TO SUCCESS

11min
pages 140-146

HOW DOES IT WORK?

2min
page 147

GLOSSARY

4min
pages 148-149

LEGAL EASE

3min
pages 138-139

DELIVERING A DIGITAL DOLLAR

14min
pages 126-132

5 FRANCHISEE TRAITS

6min
pages 133-135

IT’S TIME TO STOP SPENDING

4min
pages 136-137

NEW ROAD RULES

10min
pages 120-125

HOT PROPERTY

7min
pages 115-119

MEXICAN WAVE

12min
pages 100-107

NOT JUST A SUPER-FAD

13min
pages 90-99

HOW TO BUY A FOOD FRANCHISE

16min
pages 108-114

WHICH FRANCHISE IS FOR YOU?

7min
pages 86-89

DAY IN THE LIFE OF

3min
pages 84-85

A REAL GEM

4min
pages 80-83

FAST FORWARD

2min
pages 78-79

SNAP INTO LIFE

9min
pages 70-76

AND NOW HE’S A NINJA

6min
pages 64-69

STEPPING UP THEIR GAME

7min
pages 60-63

DREAM CATCHER

3min
page 77

FOLLOWING THE GAME PLAN

7min
pages 52-55

FRANCHISE FIT

6min
pages 56-59

FITNESS FOCUS

0
page 51

SAY YES TO YIROS

4min
pages 48-50

ROLLING UP HIS SLEEVES

14min
pages 26-35

ON A SCROLL

5min
pages 24-25

INSIGHTS

6min
pages 16-19

GLOBAL EYE

7min
pages 12-15

DOING THE RIGHT THING

16min
pages 40-47

LASER SHARP

9min
pages 36-39

EDITORIAL

2min
page 11

BRANDS BROADEN THEIR

6min
pages 20-23
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