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Franchise Tips & Trends for 2012
January 2012
The 5 Secrets to Successful Franchise Websites maxiom
What’s in this month’s Magazine?
Regular Features
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Page 4:
Welcome
Page 10:
Franchise Focus
Page 30:
Modern Franchise
Special Features Page 6:
What Will 2012 Hold for The Franchise Sector?
Page 22:
New WHS Standards
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Key Factors to Franchise Success
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What to Look for in a Franchisor
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5 Secrets to Effective Franchise Websites
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It’s All About the Client
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Attributes of the Best & Most Successful Franchisees
Page 56
Home Building Franchises - Why 2012 Will See Continued Growth
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30 Profiles Page 10:
Specialised Glass
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MPH
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The Fortune Institute
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Articles Page 12:
Being Smart About Choosing the “Right” Franchise
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Buying into a Franchise That is Upgrading it’s Branding
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Why Multi-Unit Franchising is the Key to Franchise Growth
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Is The Current Mood of Individual Entrepreneurialism Good For Franchising?
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Bringing Your Existing Business Into a Franchise Group
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Getting the Most out of Employees
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The Modern Franchise with Mark Matthews Happy New Year & Welcome to the January 2012 Issue of Modern Franchise Magazine. 2012 holds much promise for the franchise sector so we look at some of the factors that will impact on the industry in the coming year. There is a generally positive outlook for the franchise sector in 2012, though results won’t be achieved without overcoming some challenges.
Staff Management & Careers
Many franchises rely on part-time and casual staff to make their business work. We look at ways of motivating and getting the best performance from casual staff for Many predict 2012 will be the year franchises turn to technology the benefit of customers and the to boost productivity and flexibility. franchisees alike. Franchise growth is a key component of franchisors 2012 plans but with finance likely to be tight and employment levels remaining high, vendor finance and other recruitment incentives are likely to become more commonplace.
Looking for a franchise? There are some great tips for helping you choose the “right” franchise” and “how to be smart about choosing the right franchise”.
Features In “franchise focus” we talk to the entrepreneur behind a new international franchise landing on our shores in April and their plans for Australia. Michael Polo Homes have plans to ramp up their franchise recruitment in 2012 after signing up more clients than they can handle in the last quarter of 2011. We talk to them about why they chose to grow their business through franchising in this competitive and challenging market in “Modern Franchise”.
Plus there is a great feature on buying into a franchise that is upgrading it’s branding.
There are also a number a really great franchise opportunities advertised! Be sure to look out for We all know the secret to franchise We also look at the advantages to the upcoming events listed at the success relies in building strong back of the mag. relationships with clients. We look at existing business of joining a how you can become the preferred franchise and why franchising is And if you hadn’t noticed, on the set for strong growth in the choice in a crowded and next page there’s some construction sector. competitive marketplace. information about our other B2B digital publications. Franchise Management There is also another great article by Chris Anderson - 5 Secrets to Enjoy the magazine. All feedback Successful Franchise Websites. There are some great tips on the is appreciated. Please visit our principles of a good franchisee website. and what it takes to run a successful franchise. Sales & Marketing
4 | Modern Franchise Magazine
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Modern Franchise Magazine | 5
WHAT WILL 2012 HOLD FOR THE FRANCHISING SECTOR? We asked a handful of franchise advisors, business trend-watchers and franchise owners for their opinions on how the coming 12 months will likely shape up. Overall, franchises will build on the lessons learnt over the past 2 years and will ramp up their franchisee recruitment activities in 2012. Many believe that 2012 will be their best year ever, though franchisee recruitment and access to finance still remain the key barriers to achieving the growth they desire. Many franchises plan to increase their online presence with greater utilisation of social media, content and local marketing tactics to boost franchisee revenue and recruitment of new franchisees. Franchises will turn to technology to boost productivity and flexibility. 2102 will also bring employee recruitment and franchisee education challenges. It will also bring about a new appreciation for relationship building with franchisees and other stakeholders as franchisors carefully steer their business towards it’s goals. The mining boom and more buoyant rural economies may increase franchise opportunities in regional Australia. 6 | Modern Franchise Magazine
Labour Shortage
The latest generation of potential employees and franchisees insists on being able to work Despite the doom and gloom wherever they feel most talk of the economy, unemployment is still at very low productive. levels and has actually fallen slightly in 2011. This is unlikely If that means at home, on a franchisee’s or customer’s to change significantly in 2012 premises, or at a café, which means franchises will franchisors will need to offer continue to find it difficult to ways for those employees and recruit the expertise they need grow their business and fill new franchisees to keep connected. franchisee opportunities. Be Where Your Clients Are Marketing, sales, finance and technical positions will be Many franchises took keenly to particularly hard to fill. the online environment and to social media in 2011, using Franchises of all sizes will lean sites like Facebook and more heavily on cloud-based LinkedIn to broaden their reach software to facilitate project and to customers. In 2012, client management as an forecasters are saying that while increasing shortage of some companies will deepen technology labour affects all their use of online and social businesses in 2012. media and roll out integrated social networking programs, some franchises will abandon Freedom & Flexibility social media altogether. While the commercial zeitgeist Franchises will embrace suggests every company should outsourcing more than ever in use this technology, in 2012 2012 in an effort to be more flexible. New Media tools such franchises will scrutinise the as tablets, webinars, document benefits carefully to avoid hosting and videoconferencing wasting an investment that may be better placed in traditional will become more important in franchisee communications and media, as that may be where clients are. training.
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Tough Customers
Finance Still a Challenge
International Competition
Here’s something that isn’t going to grow - customers’ willingness to pay more.
Franchises trying to win over banks and other lending institutions will have a tough audience in 2012. Banks aren’t going to open their purse strings to SMEs that don’t have incredible credibility.
In 2012 and beyond, we will see more overseas franchises look to Australia to expand their business as conditions continue to remain relatively flat at home. Our strong economy and high franchise acceptance will attract more international franchises.
Some franchises have been discounting their products and services to compete with online businesses, discount coupons and international competitors, both online and new bricks & mortar arrivals.
The European debt crisis has put financial institutions there under pressure. If a European bank were to fail, lending may As the traditional retail economy be severely restricted, and we struggles, clients won’t want to could easily see a return to the go back to paying higher prices. Global Credit Crunch that saw banks collectively review their Social Media has also been lending policies based on their partially responsible for the high access to funds. This could levels of retail competitiveness mean that obtaining franchise with a clear majority of people finance whether to start or grow that “follow” or interact with a franchise will be more difficult. companies using social media doing so to gain special offers Regardless of this, lenders won’t or discounts (61%) and make be willing to lend to franchises or purchases (55%). franchisees that lack excellent business plans - and in this day In 2012, franchises will either and age, you can bet that more find ways to reduce their own businesses than ever are vying costs to restore margins, or zero for the banks’ attention. in on those customers who may be willing to pay more, given Consequently, franchisors are exceptional service and best-of- likely to offer incentives such as industry products. vendor finance, lower investment levels and income or profit Relationship building will be the guarantees to attract new key to winning over these clients. franchisees.
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Overall, franchises will become more aggressive in expanding their markets, both in terms of customer base and new franchisees. There could be also be some consolidation, with emerging franchises (those with 20-100 franchises) merging with or being acquired by others to strengthen their business, gain better access to funding and expertise plus open up more growth opportunities. Historically, this is also the time when the greatest profits can be made.
Modern Franchise Magazine | 7
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Modern Franchise Magazine | 9
franchise focus NEW FRANCHISE ENTERING THE AUSTRALIAN MARKET. International Glass manufacturer and office fitout franchise Specialised Glass is to open its first store in Melbourne, Australia in April 2012. Serial entrepreneur and business mentor, Russell Ricketts has purchased the Australian & New Zealand rights to Specialised Glass, a world leader in glass technology with plans to open 40 “home & trade” stores around the country over the next 5 years. Russell says “there are plenty of opportunities in this market for Specialised’s unique and high tech glass building products”. He adds, “in a somewhat congested building market our products are highly competitive and despite their relatively low pricing, are at the top end quality and technology wise”. 1. What is the Specialised Franchise Opportunity? Specialised Glass has been highly successful internationally for many reasons; we have an ideal competitive advantage having extremely high quality products at pricing that our competitors will find hard to get near for similar products. 10 | Modern Franchise Magazine
We offer a “hands-on” approach when training franchisees and our internationally proven business systems and procedures assist in managing your business to success.
2. What challenges did you face in setting up your franchise?
The biggest challenge in setting up a customised franchise system is the amount We are looking for franchisees of variables to work through. who share our passion for This challenge can be overcome amazing and delighting our as long as you maintain the customers. People who are intergrity of your company values dedicated to achieving personal at every decision point, and commercial success. and make a decision that best provides the opportunity for both Of course some construction the franchisee and the franchisor experience is beneficial but it is to make healthy profits so the not essential, really we are business system is sustainable offering a ground-floor in the future. opportunity” there is also no glass ceiling - so to speak! Pun 3. What are Your Objectives? intended… “We’re excited to be franchising our business as we know we have a unique point of difference and offering,” Mr Ricketts said
Specialised have a vision to maintain an enthusiastically well run business that operates in a viable market with great operating systems and achieves consistent profits. Our aim is to grow a strong network for our niche glass products range Australia-wide.
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Specialised Glass
4. Tell us about some of the expectations that you had. Have they been met?
We are currently putting the finishing touches on our first Australian outlet in Melbourne which will open in April 2012.
So far everything has been in line with our expectations. These 7. Why Choose Specialised Glass? are exciting times.
8. Do you have any plans for overseas expansion? At this stage we have no plans for overseas expansion, though we are looking for the “right� partner in New Zealand. Auckland would be the ideal location as it is the biggest market and ideally someone connected to the residential and commercial construction sector.
We place business, staff management and marketing skills ahead of other criteria. If We are looking for people to join you are serious about a business that offers you the our team who are passionate opportunity to work on it, not in it, For more information on about servicing clients, who then you should take a good becoming a franchisee visit: ideally have a building look at a our franchise. A background or who have been Specialised franchise will tick the www.specialisedglass.com involved in some area of the right boxes. industry, and who have a keen eye for detail. More important is a can do attitude and someone who enjoys being creative. 5. Who is the target market for your franchise?
“We are searching for enthusiastic, passionate and dedicated franchisees to join our team. 6. How many units of your franchise do you plan to establish in Australia? Over the next 5 years we plan to establish 40 franchises, mostly in capital cities and larger regional centres. 24 | Modern Franchise Magazine maxiom
Specialised Glass franchises are available Australia-wide now! Modern Franchise Magazine | 11
BEING SMART ABOUT CHOOSING THE “RIGHT” FRANCHISE The choices are almost boundless when looking at buying a franchise, so what is the best way to choose the “right: franchise? By Richard Wozniak Buying a franchise may take a lot of the guesswork out of starting a business, but the decision making process leading up to choosing a franchisor can, and should be, just as lengthy and thorough as research necessary to start and run a successful independent business. Not all franchisors are created equal and not all franchises are suitable for all regions or locations. If you don't take the time to thoroughly research potential franchisors as well as their products, services and market, including competition and potential threats, then you run a real risk of contractually binding yourself to an unsuccessful operation. Understanding the Franchisor Failing to thoroughly research the franchising company is an all too common mistake among franchisees. It can often lead to discontent and conflict when the franchisor fails to live up to expectations or requires you to do something you weren’t aware of or expecting. However, it takes a lot more than just a recognizable name for a franchise to succeed.
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If a franchisee finds issues with the you intend to do business in will franchisor after the fact, there is not support the business. There little that can be done. are a number of factors that come into play. That is why detailed research to develop an long-term view of the Look at the size of the community, franchisor before committing the traffic through the centre or yourself is imperative. past the location as well as the degree of competition that the new Research should not be limited to franchise will be up against. It is how much Return on Investment important to understand that any could be possible under ideal area is comprised of a finite circumstances. number of customers providing a finite revenue. Ask the franchisor A thorough investigation of the what is the minimum traffic or franchisor should include looking at population required for a franchise the company's track record, both to make the profit you expect or with existing and past franchise need. Franchisors are experts in operators and in the market. What thier field so they should be able to is their reputation with staff and give you this information. suppliers? Do they have a Franchise Code Compliance The degree of competition limits Program in place? the percentage of that revenue that a business owner can reasonably Take a look at how the brand has expect to see. Add to this the fact grown over its history. If the brand that the new kid on the block never still offers the same products and does quite as well at first. It can services almost exactly as it did at take 2 or 3 years before you start inception, then it may not be able to see reasonable returns. to stay competitive in the marketplace. One should also understand the community in terms of demand. Understanding the Market Thorough research helps create a broader view. Having a clearer Any potential franchisee should view of the big picture helps to also have a very deep project likely outcomes and trends understanding of the market in in the future. These projections are which their business will be competing. It does not matter how the basis for making an intelligent strong a brand is, if the community decision about investing in a franchise.
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Modern Franchise Magazine | 15
SHOULD YOU BUY A FRANCHISE THAT IS IN THE PROCESS OF UPGRADING ITS BRANDING AND LOGO? Refreshing the brand is something that helps keep franchises at the top of their industry, maintain their market leadership and reputation as well as improving the value of the business for the franchisor and franchisees alike. By Aiden Williams To maintain market leadership companies need to refresh their brand from time to time. This is something all organisations must to in order to survive and prosper. A strong brands - helps drive new franchise sales (and the resale value of existing franchises), it’s what brings customers into those franchised outlets and gives the franchise its’ competitive advantage. However, getting the refresh right is imperative to maintaining the value of the business for all stakeholders. There have been some absolute disasters with franchises that have lost their identity in refreshing the brand, and in doing so diminish the value of their brand in the minds of their greatest and most profitable customers. It's very easy to do. Now, let's say you are considering buying a franchise, and you recognize a very strong
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brand, which you probably see every day in the marketplace. Perhaps that's what attracted you to consider purchasing a franchised outlet from that company in the first place. Well, what would you say if they were getting ready to change their brand, their logo, their marketing, the products or services they offer or they decided to target different types of customers? In some regards you might think this is good, because you won't have to buy all the new signage, fitout, uniforms and stationery because you will come in with the new branded business. Yes, that's true, and that would be a wonderful thing if they were going to change, as you wouldn't have to go through the additional cost that all the current franchisees are going to have to bare. Generally in the franchise agreement there are stipulations that the franchisor may change
the logo and brand at any time, and the franchisees are obligated to pay the cost for their local outlet to make sure it matches. But what happens if the new brand and logo is not accepted by the customers, what if it turns off their top clients? In that case you will be buying a franchise from a franchisor who has severely diminished their brand name. Also look into why the franchisor is undertaking the refresh. Are sales or profits dwindling? Is the refresh good value and what is the ROI? What has been the experience of franchisees that have already undertaken the refresh? Most brand refreshes are timely and add even more value to the business, but this is not the case in every franchise. Do your homework before investing or you will be paying the price for it later.
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Modern Franchise Magazine | 17
WHY MULTI-UNIT FRANCHISING IS THE KEY TO FRANCHISE GROWTH The growth of multi-unit operators in Australia has been lagging behind our international counterparts, but there is no good reason why. An interesting statistic out of the U.S. is that over 50% of all franchises are owned by multi-unit operators. That's impressive, and the percentage controlled by multiunit operators is rising. Latest figures from 2010 show that multiunit operators are growing their franchise holdings by around 24% per year. If this trend continues, within 5 years multi-unit operators will dominate the US franchise industry…if they already don’t. A similar trend can be seen in the UK, where multi-unit operators also account for over 50% of all franchise units. This growth is a consequence of many brands focusing their development models on multi-unit development packages over single-unit programs. Statistically, franchisors start to embark on a multi-unit franchise growth strategy one they have been operating their franchise systems for around 3 years.
experience of the franchise operators within the system. Most of the smaller to medium sized brands are less likely to have many multi-unit operators. There's some serious operational, business, and political influence in these numbers. Growth of MultiUnit operations has been slower in Australia than internationally. Some franchise consultants also have been known to sway franchisors away from this growth model (maybe because they think they will earn less commissions if there are less franchises to sell to new single unit franchisees)? In the US, many multi unit franchise operators hold units in multiple franchise systems. This is also true in the UK, but to a slightly lesser extent. In Australia, many franchise agreements prohibit franchise operators from investing in other franchise systems and where multi-unit operations exist the franchise agreements will usually allow the termination of all franchise unit agreements should just one of the franchise units be unsuccessful.
Multi-unit operators seem to be more prevalent in larger, established brands, most likely due to the greater finance options available to these systems and the These factors are a deterrent to multi-unit franchising and can only stand in the way of growth of multiunit franchising in Australia.
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Multi-unit development models became a common form for expansion in the past 20 years for many international franchises. In a life cycle sense, the data confirms that this model is still solidly in a growth mode. It shows that the potential for Australian franchises to grow their business “internally” is very strong and likely to be sustainable for many years if not decades. It should be noted that the growth of multi-unit operators is happening, in part, from the exiting of some single-unit operators. Transfers are on the rise across many industries. Multi-unit operators increasingly are the buyers of existing units. It makes sense, since they are in the best position to evaluate the current operations and future potential of an existing unit. All of this suggests a continuing rise in influence of the multi-unit operator within franchising. It makes good sense for Franchisors, Franchisees and Financiers alike.
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Modern Franchise Magazine | 19
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To learn more about Maxiom’s Web Marketing Solutions visit our website: www.maxiom.com.au or contact us on 03 9097 1606 20 | Modern Franchise Magazine
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WEB MARKETING STRATEGY GUARANTEED TO WORK! Maxiom is launching a new digital magazine platform in 2012 which will change the way you view online advertising. With Google changing it’s algorithm again to reward new and original content, articles about your business will have increased relevance. Another trend that is changing search marketing is the move from search engines to apps inside platforms such as Facebook, Twitter, Yelp etc…along with Siri - the voice-activated virtual assistant that comes with the latest iPhone - and other similar applications that bypass Google all together. All these changes require relevant up-to-date information about your business to get and keep you at the top of searches and peoples minds! Maxiom’s new technology has automated the process of distributing your magazine content - articles & advertorials - to hundreds of article and press release services around the world. You can also include videos, flash, HTML5 & CSS Java Script coding in your advertisements. Bring your ads to life, turn 1 page ads into multi-page ads at no extra cost and interact with your market more effectively. Maxiom also provides your business with the ability to track each and every person that looks at your article, advertisement or page, which link they click on and which page of your website they visit. But unlike other analytics, with Maxiom we can now see the names and email addresses of the readers that view your pages or that click a link in your ad. This means that automated follow up emails, information and offers can be sent to the actual people who viewed your page, article or ad or that clicked a link on your page. Imagine what this could do for your sales. And better still we have obtained their permission to do so! But obviously we can’t service everybody, so call us today to see how we can change your online marketing forever…and guarantee the results!
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Modern Franchise Magazine | 21
COMPLYING WITH THE NEW NATIONAL WHS STANDARDS? Even though Victoria & WA will miss the Jan 2012 start, businesses are urged to ensure they meet the new harmonised OH&S Standards. By Joanne Solis All organisations are advised to ensure they comply with the new harmonised WHS laws, despite concessions from the Federal Government that grant businesses up to 12 months to implement the regulations if they create “new duties� for organisations.
Though, as many requirements of the new WHS laws are equally relevant to workplaces in nonharmonised States obligations of the new laws can be followed in many situations without being in breach of the current laws in Victoria and Western Australia.
It makes good business sense, With Victoria and Western where no conflict exists with the Australia missing the start date current laws, to move to the for the changes that took effect on harmonised obligations. 1st January 2012, Companies Another consideration is that that operate across multiple states may have to maintain state under the new WHS regime, a Victorian or Western Australian relevant policies for Victoria & WA until the laws are passed in business that contracts with and these states, while complying with supplies goods or services to a the harmonised WHS Laws in all business in a jurisdiction where the harmonised WHS Laws are in other jurisdictions. effect may find itself subject to those Laws as a worker, Victoria and Western Australia have indicated harmonisation will designer, manufacturer, supplier or other capacity. So if you are a occur in January 2013. Victorian or West Australian In this situation the current safety franchisor with interstate franchises or customers, it makes laws in these two States will be good sense to ensure you comply enforced by their State-based now! regulators. The expectation is that ultimately both States will adopt the harmonised laws.
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By now all franchises should have undertaken a review of all their WHS practices, procedures, manuals and policies. Franchises may need to implement training to ensure that all managers, franchisees and employees are up to speed with the changes and understand the requirements placed upon them. Special care should be taken when reviewing both franchise and contractor arrangements under the new laws and their franchisee and contractor management systems, and make sure their staff are prepared for the changes. Company directors and managers must be aware of the positive obligation on an officer of a company to exercise due diligence to ensure the company is discharging its safety obligation.
Joanne Solis is principal of integrated, WHS, Training & Building-up Consulting’s advice Recruitment Services firm, Building to all clients is don't wait - ensure Up Consulting. For more you are prepared now, because information on WHS you can in many ways this is best practice contact Joanne at: jsolis@buildingup.com.au so there's little downside. or visit their web site: www.buildingup.com.au
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New National OHS Laws coming into effect soon WILL require you to make significant changes to your OHS practices, manuals & training. The good news is that you will only need to learn about one set of rules. The bad news is that the rules are complex, and will require changes in your OHS policies and Safety Management systems, so it’s important to get it right from the start. There is now just over 8 months to fully review your OHS safety systems, documentation, training and education to be compliant on January 1, 2012 At Building Up we make it our business to ensure your risks are minimised and your potential maximised. We hold the solutions to your OHS problems, so you can rest assured that your business is able to tick all the boxes.
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Modern Franchise Magazine | 23
THE TWELVE KEY FACTORS TO FRANCHISE SUCCESS. With so many options available, how do you know which franchise is likely to be successful and which won’t? If your franchise meets the following 12 criteria, then the chances are in your favour. By Richard Wozniak 1. A necessary recession resistant product or service
3. Market Potential Over Competitors
5. A Reputable and Dominant Brand
Not the latest fad or unproven concept. Ideally choose something that people or businesses don’t have time to make or do, don’t like to or want to do themselves and as such would rather pay someone else for.
Choose a franchise that has little or no competition from other similar established franchises. Also consider what effect a major chain or non-competitor might have on your franchise if they suddenly introduced a competitive line and severely undercut you. Would your franchise still have a competitive advantage?
Brand recognition is a huge factor in success, at least in the shorter term. People trust brands they know. Brand is not just the franchise name or logo, but the entire customer experience....and in a franchise, the franchisee experience too!
2. Stable & Established Industry You need to be selling something that will be profitable no matter what the economy is doing. While this might not seem as glamorous as the latest fad or newest idea, you will need to make a profit in all economic cycles and for at least most of the year in order to survive. Building maintenance and insurance repairs are a good example, not high profile but solid and you know you’ll get paid!
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Opening a new juice bar opposite Boost Juice probably wouldn’t be a smart idea either. 4. A Leader in Their Market or Category
And just because a brand is dominant or well promoted doesn’t mean it is either reputable or a great brand. 6. Potential For Growth This might be the most important factor, outside well targeted marketing, that contributes to your potential success as a franchisee.
A major contributor to your potential success as a franchisee is teaming up with a franchise which is the undisputed Look for franchises that offer the ability to purchase multiple areas market leader. or outlets, master franchises or area development rights. These are strong indicators that the franchise is thriving and planning to expand and growth the business.
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7. Targeted Marketing That Brings in the Right Kind of Customer
9. Relevant Ongoing Training 11. Has a Support Structure and Support of its Own
Most franchises offer some level of training. The most successful Not every franchise has the franchises don’t stop at same level of expertise in marketing. Many are adequate, franchisee inductions and extend some are good, a few are great. their training programs to include franchisee employees. Ongoing Working out which franchises support should include coaching have identified their ideal customer and then generates the in all aspects of the business, as and when you need it. Of course right customers for your marketing is the number 1 key business can take some support the franchisor should digging. prioritise. 8. Transparency and Integrity 10. Have Built Strong Relationships With All Key Franchisor management style Stakeholders will play a huge part in your enjoyment of your new business. A franchisor that builds strong Whether it’s existing relationships based on franchisees, employees, openness and integrity will go a shareholders, suppliers or long way to ensuring you have a customers, the franchise should successful...and enjoyable...life have strong relationships with as a franchisee. everyone involved in the business. Talking to as many existing franchisees, particularly those Any franchise that doesn’t as an with similar backgrounds will integral part of its’ culture build help you identify a franchisor that strong relationships based on exhibits these traits. The best integrity and transparency is less question to ask an existing likely to be successful in the franchisee is “knowing what you longer term. know now, would you do it all again?”
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No business, regardless of its size or time in operation, can survive without great advice and support from experienced and qualified industry professionals. The calibre of franchise consultants, lawyers, accountants, marketing & advertising agencies and other advisors the franchisor employs also contributes to the overall performance of the franchise. 12. Franchisor Doesn’t Try and Do It All Themselves You know the old saying, “jack of all trades, master of none”. This applies to franchising as well as any other business. You will need many different types of support as a franchisee over the journey, so it’s worth checking to see if the franchise has outsourced a range of different services that best support the business. There are plenty of franchises that offer these key components, the tricky bit is finding them and then the one that is best for you.
Modern Franchise Magazine | 25
BRINGING YOUR EXISTING BUSINESS INTO A FRANCHISE GROUP - WILL YOU BE BETTER OFF? A recent article in IntelBuild Magazine about building industry franchises provided an interesting insight into the benefits of bringing your current business into a franchise group. By Chris Gregory In the article it examined the benefits and disadvantages of converting your business from a stand alone operation to a franchise as a franchisee in a bigger network.
profits than independent or stand alone businesses - even after the franchise and marketing fees are taken into consideraton.
This isn’t always the case with every franchise system, though While this was article was talking when you add up all the about building franchises, many of advantages, it was a no brainer the points raised are relevant to really for a builder to join the any business. franchise group. Some of the advantages included: The up front costs of rebranding, training and franchise fees were 1. Lower set up costs than returned inside of 6 months from starting a new franchise from operational savings alone. 2. Wider marketing reach There are obviously some 3. Greater purchasing leverage disadvantages too. 4. Being recognised as a 1. Loss of some control - having National brand to comply with mandatory 5. Significant cost savings requirements of the franchisor 6. Having valuable Head Office support In fact the article descibed examples where the savings gained from the greater purchasing power more than offset the ongoing franchise fees and marketing contributions. And as we learned from the PwC Franchise Sector Report, generally franchises generate greater revenue and enjoy higher
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2. Possible restrictions on the area you can service 3. Loss of independence
For many businesses the good outweighs the bad. Another often overlooked advantage, is the ability to grow your business into a multi-unit franchise. For an independent business that wants to open more outlets joining a franchise could also allow you to make this happen faster. You also have the advantage of having the support and expertise required to expand your business already in the organisation without having to find, recruit and manage it and in more developed franchises, the experience of other franchises within the group that have embarked on a similar strategy. As you already have an existing business you should also be able to negotiate favourable terms to join the franchise group.
4. Costs or rebranding which may incude remodelling, or a Overall, there are many totally new fit out advantages of taking your business from an independent 5. Changes in relationships with operation to a franchisee. suppliers and customers 6. Limited opportunities, locations or territories available
Like any major decision though, do your homework, due diligence, seek professional advice, then make an informed decision.
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Modern Franchise Magazine | 27
WHAT TO LOOK FOR IN A FRANCHISOR When considering a franchise there are several things you should look for in a potential franchisor. Here are 6 key criteria that you should check out right from the start. By AW Williams There are many factors that you should consider when choosing which franchise is best for you. While this list is by no means comprehensive the following are 6 key factors you should consider. 1. Attention to Your Needs This will be apparent right from you initial enquiry. If you find that the franchisor is laid back or complacent, takes thier time to get back to you or send information, you’re better off without them. For a franchisee to make money, it is essential that the franchisor act as the driving force. A non-responsive franchisor is better left untouched. 2. Adequate support Since you’re entering unknown territory, it is the franchisor’s responsibility to ensure that you are adequately equipped to run a successful unit. And that means providing adequate operational training to your staff, implementing a solid marketing and communication plan for the brand and advising you on how to run a profitable franchise business.
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In fact, some franchisors help with the real estate decision and financing requirements too.
many franchisees have left the business, and what happened to them.
At the time of reviewing the terms of the disclosure document and franchise agreement, be sure to understand the implications if you part ways at any stage. This is important business franchise information
5. Supplier Arrangements
A rapidly growing franchisor might brag about how they’ve grown in recent years. That’s a red flag for you - numerous new franchisees are usually accompanied by a number of that exit the system. Check how
Be sure to speak with several existing franchisees to get their perspective on what it is like to partner with the franchisor. If they seem satisfied on the support they receive, as well as the performance of their business, the opportunity is probably worth your consideration too.
Some franchises are based around the franchisor supplying all the components of the franchise and ongoing supplies. Make sure they can deliver over the longer term, that there are solid supply arrangements in 3. Financial soundness place and that the price you pay is competitive. How many times That’s a tell tale sign, if any. do you hear of a franchisee Make sure you go over the financial strength of the franchisor complaining about the fact they pay more from the franchisor or in great detail. Every franchisor will sell you the success stories of the nominated supplier that they other franchisees - while you may can get as an independent business. Imagine the listen to that with interest (and repurcssions if a major chain verify it with the franchisee), you decided to start a price war - like must also ensure that the franchisor is itself strong enough Coles & Woolworths with bread. It could quickly kill your to stand . Don’t assume that there’s always a sound company profitability. behind a strong brand. 6. Attitude of other 4. Past history franchisees
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Modern Franchise Magazine | 29
modern franchise A HOME BUILDING FRANCHISE WITH ONGOING WORK READY & WAITING FOR THE RIGHT FRANCHISEES. Starting a home building franchise from scratch has provided some interesting challenges as Mike James from Micheal Polo Homes explains. 1. What inspired your business idea? MPH is part of a strong and exciting industry. Having constant contact with people from all walks of life, creating thier dream home and realising their personal vision, combined with an environment of working so closely with clients that they become your friends, it is hard not to be inspired.
we needed to find the right strategy to tackle the increased work load that we had created. In the back of our minds however, we felt that franchising was a viable option as the industry we operate in is a very fragmented except for the largest players. The top 100 builders now hold around 40% market share. But there are around 50,000 other buidlers fighting for about 30% of the total market, with owner builders comprising most of the rest.
2. How did you know franchising was right for you The disadvantage of these and what ultimately smaller business structuctures influenced your decision? purchasing power, state of the In addressing our future growth art marketing and innovation is plans we engaged the services restricted, so we decided that of a leading franchise consultant. we needed to become a top 100 builder ourselves. We were open to
The franchising system we have created with the assistance of our franchise consultant provides the advantage of buying power, innovation as a group to be at the fore front of market trends, professional marketing campaigns, long established industry experience, all whilst maintaining the personal level of service to our clients as they will be dealing directly with an owner of the business. 3. What previous experience did you have in the business before franchising?
Having come from a long line of builders in the UK and Europe, on both sides of the family, building & design have been in our blood. This extensive recomendation for the most In this assessment of the industry and technical applicable path for our company. industry franchising was the right knowledge and our broad decision for MPH. business experience, enables Having worked with Maxiom’s us to direct the MPH business marketing people to grow our well into the future. business as quickly as we have, 30 | Modern Franchise Magazine
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7. Tell us about some of the expectations that you had. Have they been met? So far everything has been in line with our expectations. These are exciting times. 8. Who is the target market for your franchise?
Michael Polo Homes lives by its’ service promise designer homes “built on time and on budget; every time� .
4. How long did it take to develop and set up your business? Whilst we have had over 30 years building & business experience, franchsing took us some time to learn and we spent over 2 years setting up the franchise system. Developing our business is constant and always will be, everyday we are developing more and more.
6. What challenges did you face in setting up your franchise?
The biggest challenge in setting up a customised franchise system is the amount of variables to work through. This challenge can be overcome as long as you maintain the intergrity of your company values at every decision point, and make a decision that best provides the oppotunity for both 5. What was the driving force the franchisee and the franchisor to make healthy profits so the behind your decision to business system is sustainable franchise? in the future. Sales growth left us no option Working with our franchise other than to expand. Our decision to franchise was based consultant was fantastic, on wanting to maintain product combining our concepts and visions with their franchise quality, engage people with a true passion for their work, have industry experience, resulted in a franchise system that we are strong technical knowledge and personalised service to the 100% comfortable with and client. All of this can be achieved believe in. through the franchise structure. 24 | Modern Franchise Magazine maxiom
We are looking for people to join our team who are passionate about servicing clients, who ideally have a building background or who have been involved in some area of the industry, and who have a keen eye for detail. More important is a can do attitude and someone who enjoys being creative. 9. How many units of your franchise do you plan to establish in Australia? Over the next 3 years we plan to establish 18 franchises and 40 within 5 years. 10. Do you have any plans for overseas expansion? At this stage we have no plans for overseas expansion, though we have already had enquiries. However, at this stage we intend to make sure that our franchise system is succesful in Australia and that we meet all our targets for growth and customer satisfaction before we look at other markets.
Modern Franchise Magazine | 31 maxiom
10 PRINCIPLES OF A GOOD FRANCHISEE The following represent the principles of a good franchisee. Follow these and you are sure to have success. By Mark Matthews Since the launch of Modern 2. Focus on your own business. Franchise Magazine we have Avoid getting involved in idle received many inquiries from rumours and destructive readers about a variety of chatter. subjects. One of the most common is “what are the 3. Set goals for yourself attributes of a good franchisee?” that motivate you to improved performance and greater Accordingly, we have complied results. the a list of what we think are the the top 10 attributes and 4. Enjoy your time in your principles of a good franchisee. business and make friends for life with your customers. Becoming a good franchisee is more than just servicing your 5. Participate in your franchise’s customers, making a profit and advisory council or forums, contributing to your franchisor’s meetings and co-operate bottom line. with other franchisees to the combined goodwill and It is about being focused on your benefit of your entire business and making a positive franchise network. contribution to the franchise network and community as a 6. Communicate your concerns whole. through the correct channels, work with your field consultant After all this is what drives your or appointed business coach. business success and enjoyment of life as a franchisee. 7. Your franchisor has a pool of expertise at your disposal, So here are our top 10: use this expertise to achieve great results. 1. Support your brand with passion and maintain the 8. Learn, learn and learn. highest standards at all Constantly improve your times. business knowledge and expertise and that of your staff.
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9. Be original in your attempts at growing your franchise business and regularly discuss your results with your franchisor and other franchisees. 10.Become a responsible and respected member of the community. Get involved in your community; with children, schools, the aged, sporting associations/clubs, commerce and community safety. Whether you are an existing franchisee or thinking of buying a franchise, taking note of these principles will go along way to improving both the results and enjoyment of your business. There are probably many other attributes and principles that make up great franchisees. If you think we should include any others then drop us a line at www.modernfranchisemagazine. com/feedback
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Modern Franchise Magazine | 33
THE 5 SECRETS TO EFFECTIVE FRANCHISE WEBSITES By Chris Anderson
It’s shocking that in 2012, so many small businesses and franchisees are still without a proper marketing website to help boost lead generation, sales, and if nothing else just to get on the radar of would-be customers. Blaming the economy or uncertain retail conditions is a tired excuse for why your business is suffering. Stop worrying about things you can’t control, and start focusing on the things you can…like having a real website! For all of the franchisors out there with your heads in the sand, here are some of the top reasons you NEED to have effective websites for your franchisees (and for those reading who simply have cookiecutter, template pages that are almost exactly the same across the board, this applies to you too): 1. Investing Time in Social Media is a Waste Without a Website Take a look at your social media presence, and research your franchisees’ Facebook, LinkedIn, and Twitter profiles – surprised to see how much activity there is? Now, look closer to see if there’s an underlying strategy to convert those discussions in social media into leads and ultimately sales. Chances are this is where the ball is dropped. That’s where a website comes into play – all of that great momentum can be channeled to a controlled website optimised to convert traffic in paying customers.
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2. Control Your Business’s Voice Online
The solution is to have a website that you can ALWAYS point people to, regardless of the With a website that is designed to communication channel (traditional have frequent content updates, you advertising, banner ads, PPC, can take control of the messaging, social media, etc.). and have a strong positive influence on your search engine 5. Generate Leads and Sell! rankings (SEO). Social media is the great equalizer allowing Most importantly, you need to have customers to join the conversation a SALES channel online that is the without barriers to entry. But hub where you’re looking to convert owning the control of your brand traffic into leads, leads into and messaging through having a customers, and customer into website is still vital. evangelists. Social media is an excellent vehicle to connect with 3. Gather Customer Information people, build personal relationships, improve branding, Collecting visitors’ emails and other and a host of other benefits, but it’s information through your website pretty tough to convert those warm opens an amazing opportunity to fuzzy discussions into sales. With maintain communication with a website, you can have a potential and existing customers prominent sales call to action and through email marketing, which an easy way to collect customer can have a strong impact on information, and you can constantly customer retention. work towards increasing your conversion rates. It’s also a great way to disperse new promotions to an audience Do you just have basic template who has already volunteered to pages, or worse listings, for your stay updated about news and franchisees, and are now happenings related to your reconsidering doing it the right franchise. way? Click on the link on the next page for a personal demo to see 4. Have a Homebase to Point how easy it is to make a change to Customers To having search engine optimised, lead converting, social media In today’s fragmented social media integrated websites for your and Internet marketing arena, it’s franchisees. very easy to become completely disorganized and lose control of Or, if you’re more of a do-it-yourself your lead conversion funnel – not to guy or gal, click the big mention convoluting the experience Try it Free for potential customers looking to purchase your products or link and you can dive into a free services, or just learn more. trial.
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Modern Franchise IntelBuildMagazine Magazine| |35 3
BUYING A FRANCHISE GETTING IT RIGHT Buying into a franchise concept can be an attractive way for some people to become business owners. Ideally, a franchise company has a proven business model, saving new business owners the time, energy and money they would have to expend building concepts on their own. By Steven James The history of franchsing dates back to feudal times where lords of the manor would grant rights to hold markets or draw water in return for fees.
The outstanding growth potential of the Franchise business model and its benefits to the buyer and seller were truly realized in the United States by the 1960's and it is around this time the The first recognizable name International Community also associated with business format embraced the true potential of franchising is Albert Singer. business format franchising. By the 1970’s franchsing began to In the early 1850's he was take hold in Australia and has looking for an efficient method of grown to one of the largest marketing his sewing machines industries in the country. across the United States, so he began to grant others the right to For people buying a franchise, a sell them. difficult part is to know which franchise is worth investing in. Moving forward into the late 1800's and early 1900's, The advantage of buying a franchising took on many other franchise is that a majority of forms. In the late 19th century, franchisors provide you with a national brands came into being turn-key operation. But you need and reworked the American to put some planning into action economic landscape. before making this important decision. In a gowing economy fueled by new technologies, there was an Work to a Budget. You need to overwhelming need for all types have a budget. This will help you of products and services, and to estimate how much money franchising was the ideal you can actually spend to business model for the rapid purchase your franchise and expansion, particularly in the what level of returns you will hotel/motel and fast food need to make. industries.
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You need to be fully aware of what you are putting your money into, how much you are going to make and if all the effort and expense is justified. Choose Wisely. The success rate of franchises are lot higher than a stand alone business. But some franchise opportunities unfortunately fall flat on their faces after they have over saturated the market with their products or service. Understand the core business. Merely buying a franchise of an ongoing profitable business will not guarantee you success. Understanding the underlying business is very important and necessary. What To Look Out For Half the franchisees aren't making the kind of money you want to make. While many franchisors won’t give earning information to prospective franchise buyers, your investigations with existing franchises should include profit
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expectations. Unless the vast majority of existing franchisees are making what you would need to meet financial objectives, walk away.
Underlying Products or Services. When you decide to buy a franchisee, it is necessary that you take note of the ones that are really in demand and are not seasonal or a fad. This Franchisors blaming the will ensure your year round franchisees. Don't let a demand and sales because it is franchise company explain away already proven in the market. the performance of the middle and bottom franchisees by Compliance is more saying the franchisees don't important than results. Does understand or follow the system. the franchisor run a collaborative So what if the existing environment in which its franchisees are lousy? If the employees listen to franchisee franchise company can't recruit concerns, or is it a bureaucratic correctly, what makes you think nightmare demonstrating low its operating system is any concern for franchisee results good? and relationships? The franchise company doesn't get to answer The model is in a perpetual this question. You need to seek state of flux. If the franchise out a number of franchisees and company is constantly tinkering hear what they have to say about with the concept, you need to be the relationship. asking why. The model simply may not work. Keeping it in the family. Sometimes franchise If they are undergoing a brand companies can be too cosy, and refresh, ask yourself why? Is it turn into benevolent just part of the continuing market dictatorships where there is high leadership of the brand or is it concern for relationships and because the brand isn’t a low concern for results. Look out market leader any more? for franchisors laced with a lot of family.
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Too often, franchisors choose owners relatives for positions, ignoring the best people for the jobs. A good franchise company needs highly skilled and seasoned management. Here is what can make a franchise company stand out from the crowd: The executives have integrity. Do the franchisees say they trust the people running the company? I would look for franchise companies with a sense of purpose and inspiration. When push comes to shove, what motivates these people? Whatever company you're looking to buy into, do Internet searches on the names of the owners. Do you find links to their charitable work - or on ACCC, ASIC, disgruntled franchisee or franchise warning websites? The business model is unique and timeless. If a franchise company is making money today, pay attention but don't become enamoured. Will it make money seven years from now? Modern Franchise Magazine | 37
TRAINING YOUR STAFF WITH CLARIFY TRAINING Wouldn’t it be great if all your staff had the same passion and vision for your business and you? Clarify Training can help you create a dynamic culture where your staff thrive enabling you to reach your business goals faster. Our organisation has a deep commitment to you and your people and offers a unique service based on the values of Accountability, Respect and High Performance. Our professional services are tailored to be tightly aligned to the commercial aims of your business: In line with your organization’s strategy, we will formulate, lead and implement a learning framework that is linked to business performance, maximise individual capability and builds leadership competence. Coach business leaders in your organization so as to ensure the optimal delivery of all tactical people programs and to ensure business results are achieved.
As accomplished practitioners your business to ensure business they can help your people display results are achieved. effective influencing skills, the Attract & Recruit the Best ability to inspire and engage others Talent and the capability to lead and Provide an Environment empower change in a for Your Talent to Thrive performance driven setting. Optimise Individual Capacity With extensive experience in Build Influencing Skills and helping organizations analyze their Leadership Capacity needs and design strategic Ensure Business Results learning and development Are Achieved solutions, our highly qualified See the Results in Your consultants will work closely with Bottom Line you to determine your company’s individual requirements. We can design tailored solutions for individual employees, project teams, departments and entire companies.
We will help you implement a suite We can also help you develop a of HR practices and policies to learning culture, while fitting in with reflect contemporary, consistent the overall strategic goals of your best practice. organization. Our consultants are individuals Our programs are strategically who have carved their careers within leading, complex business aligned to the commercial aims of environments.
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Wouldn’t it be great if all your staff had the same passion and vision for your business and you? Clarify Training can help you create a dynamic culture where your staff thrive enabling you to reach your business goals faster. Attract & Recruit the Best Talent Provide an Environment for Your Talent to Thrive Optimise Individual Capacity Build Influencing Skills and Leadership Capacity Ensure Business Results Are Achieved See the Results in Your Bottom Line
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Modern Franchise Magazine | 39
IS THE CURRENT MOOD OF INDIVIDUAL ENTREPRENEURIALISM GOOD FOR FRANCHISING? Recently I’ve read articles discussing where franchisee growth is going to come from. Some say it’s Gen Y, other say Baby Boomers are still the best source of franchisees. By Mark Matthews In recent times the franchise industry has come to realise that it needs to provide hard figures to measure its’ successes, trends, shortcomings and to plan it’s future. Now we have a myriad of reports and indicators that provide us with information that is supposed to help us make informed decisions and better plan for the future.
potential franchisee, you know they are mostly baby boomers, rather than Generation Y as others had hoped would fill the void.
Trying to categorise franchisees into age segments really doesn’t work. First, the most important factor in determining if someone is going to be interested in a franchise is what motivates them In reality. We have a lot of to buy a franchise. We must look information, some contradictory, at the psychographics, not the with much guesswork required to demographics. Working out what fill in the gaps. motivates someone to leave successful career and enter the A key area that franchisors need world of franchising is far more to know about is where are the important than their age. future franchisees going to come from? The other issue is keeping franchisees. The 2011 PwC Existing and prospective Sector Indicator found that the franchisees need to know this average franchisee tenure is 7 too as when it come time to sell years, which means that they will want a ready market for franchisees are not hanging their business. around for very long once their first 5 year term is up. Some industry analysts are still pushing the demographics If we look more deeply, we find wheelbarrow when it comes to that there are several reasons for 40 | Modern Franchise Magazine
this. In fact when all the data is interpreted a clearer understanding of the industry can be gained. We must remember that the industry has been in somewhat of limbo over the last 2 years in terms of franchise systems and franchisee numbers. Though this is forecast to return to growth in 2012. The next thing to consider is that franchises still outperform other business models and are more profitable and less likely to fail than stand alone businesses. All pretty good so far. But this is where if gets tougher. Emerging franchise systems have been losing numbers. Smaller franchises find it hard to attract new franchisees and are less likely to be bank approved to make it easy for franchisees to obtain finance.
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Then there is the mood of individual entrepreneurialism that is sweeping the world at the moment. The best candidates can get work anywhere simply because they are good at what they do.
These mentors do not just provide business knowledge and experience, but come with a large bank of contacts that can open doors for the entrepreneur.
Low skill or “buy a job” franchises, just aren’t wanted by The Internet has made this many Australians any more. easier and attainable for more Entrepreneurs don’t want to be and more people. constrained by rigid and mandatory systems imposed by For many there is no need to buy the franchisor. a franchise. As education levels improve, so does business So why do people buy a education. One of the main franchise? This is the questions selling points of a franchise is all franchisors would love to the level of professional support know the answer to. provided by the franchisor. But this is generally only as good as Every person has different the field officers and other staff motivations. These are not of the franchisor. And we all always determined by their know that with the current high demographics. levels of employment the best people either have jobs or are Every franchisor needs to doing it for themselves. determine what motivates people to buy their franchise There are also more and more over a competitor or start their mentors - some of them top line own independent business. entrepreneurs - that business owners can contract to join their None of these sector reports business or advisory board, actually look into this. Some without up front cost and often surmise or give a best guess, for less than they would pay in others just report that more will franchise fees. target a particular group, or not.
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One reason baby boomers might buy a franchise is as a retirement investment. This might be so they can sell it when they retire, or to generate a better retirement income. A Gen Y franchisee might be looking for the experience and support of the franchisor as they may not be able to attract top mentor in their first foray into the business world. Others may look at the opportunity to own multiple units of a franchise or franchises. In the end it’s up the the franchisor to develop a business model that motivates the “right” people to buy their franchises. Finance is one of the key factors that should never be underestimated. Having your franchise approved by the banks or providing some vendor finance might just make the difference.
Modern Franchise Magazine | 41
ARE YOU A BUILDER LOOKING TO GET OFF THE TOOLS? When you stop and think about it, as a builder you will use many types of coatings during the construction of even the most basic home. Whether its the interior or exterior paints, renders, texture coatings, timber stains, decking oils, waterproofing membranes, sealants, primers, bonding agents, impact coats, concrete sealers, patterned concrete toppings and many more, you will most likely be dealing with multiple suppliers, different trades, different products and all the while diluting your buying power and costing valuable time scheduling and managing all these different companies and trades on site. How would it be if you could deal with one company that took care of all these coating procedures for you with one phone call! PowerCoat are the only company in Australia, that has the expertise and experience to successfully project manage all your coating requirements. We can even take care of wall system installation, full wet area waterproofing and seamless flooring applications regardless of the product or system specified, with very few exceptions. No matter whether you are a builder of homes, units, high-rise developments or industrial and infrastructure, PowerCoat will tailor a coatings solution to suit your business, preferred products and construction schedule. Franchise opportunities now available Australia wide.
42 Franchise Magazine 10| Modern | Careers Magazine
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Modern Franchise IntelBuildMagazine Magazine| |43 3
BUSINESS HAS NOTHING TO DO WITH YOU - IT'S ALL ABOUT THE CLIENT As a business owner you must quickly establish that business, truly, has nothing to do with you. The key is to see your business, and in particular what you're offering, from your client's point of view. By Andrew Ludlam I often refer to this whole concept as the 'Missing Link' simply because I often see businesses put out marketing messages and collateral which essentially does not speak directly with their audience. There is often something missing: a true understanding of their market and what it wants. You see, now more than ever, as customers we all have so many more choices and options. Or let's put it another: your prospect has so many more options. Therefore if the marketing message you use, doesn't talk to them directly - doesn't address, or recognise their problem in a compelling and persuasive manner - they will go elsewhere. Similarly, every time you run an advert, send out a piece of direct mail or put up a web page; so is your competition.
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Someone, somewhere, is competing for your prospect's time and/or money.
However, whenever I review a client's marketing materials, or review their approach to generating and converting leads, Now this isn't meant to be all it's amazing how many business 'doom and gloom', I simply want owners still adopt the approach you to recognise what you're up of what I call 'ME-ME-ME against, and especially if you marketing'. continue to market your The content of their message is business from your point of essentially all about them, and all view. about how great they are. Let The key is to see your business, me give you a very practical and pertinent example... and in particular what you're offering, from your client's point Recently I was invited to run a of view. seminar for a local business networking organisation. Ultimately, your client carries one question, and only one question around with them when At the end of the presentation, one of the audience members they consider your product or service, "What's in it for me?", or came up to me to introduce himself. "How does this product or service solve my problems..?". After telling me how much he Yes, it's commonsense, but not liked the presentation, I went to ask him about himself, what always commonplace. business he was in etc: Your prospect only cares about one thing: his or herself. It's human nature; it's how we 'work'.
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"Well I've been in sales for over 20 years now, working mainly in the finance sector. In fact, before I decided to start my own business, I was the top salesman in my company.
If you only remember one thing after reading this article, remember this critical business building principle: business is all about the client.
Remember, your potential client comes to you with their own set of prejudices, experiences (both good and bad) and assumptions.
So how does this relate to I was setting records all over the position yourself as an authority place! In fact, to date, nobody in your field? It's fundamental; has ever beaten my targets in fundamental to how you conduct the last 7 years. I think the yourself, and how you conduct company was really sorry to see business with your market. me go". Think about this; 'experts' truly So on and so forth. However understand their market. after he left, I really only had one thought: I wouldn't want you Experts 'get' their clients, and at working for me! Why? His a very deep level; they truly credentials were enviable. appreciate and know their market. So ultimately by knowing However, not once, did he talk that business is all about the about why his background, client, you position yourself as a abilities, skills etc were credible and trustworthy choice important to me! You might be in your field. the very best in your field, but it means nothing... Unless, it You see once you understand this, know this and most means something to your prospect. importantly of all, apply this, then the strategies and tactics You must imbue all of your needed to ensure you better marketing with a sense of truly position yourself as authority in understanding and knowing your your industry, follow suit. client. As Peter Drucker once said, "The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself."
For example, as a 'prospect' these are just some of the concerns and doubts going through my mind, as I'm deciding whether to use your company:
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First, I feel that I'm taking a personal risk: will your product or service actually work? I'm actually giving up some degree of control. I'm sceptical. Okay, you tell me your product or service is perfect for my needs, but then you would say that. Will it really work? Will it really do the job? I'm feeling insecure. Since I'm not great at distinguishing the geniuses from the also-rans, I'm concerned I might make the wrong decision! Potentially I might feel a little threatened, as you may be working on something that I should really be able to do myself, but for whatever reason I'm unable to do so
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The thing is, I'm almost certain these are exactly the kinds of thoughts running through your head, whenever you decide to engage the services of a company. For example, you're house needs rewiring, so you start to source a local electrician. Suddenly you have all kinds of concerns -- and the company that already pre-empts these, or say, addresses these directly in their copy; ethically, substantively... and most of all persuasively, will win your business.
Look over these as objectively as possible, and ask yourself, "Do I truly speak directly to the client, about the client and for the client - or - is the message I'm offering all about me?". This is the first and simple step. You might be clearly articulating a difference to the market; however, it must mean something to the market. Many marketing messages I see are feature-led, as opposed to being full with benefit orientated copy that speaks directly with the prospect.
Secondly - when I visit your website, read your emails, or look at your marketing literature; is it clear that you know your sector? In other words, do you So what is the solution, and how offer an education to your can you both, imbue all of your audience, and not just a sales marketing with a sense of truly message? Remember 'experts' understanding and knowing your don't need to sell, at least not client, whilst positioning yourself initially. Include articles, reports, as an expert in your industry, guides - offer your market niche or sector. something of stand-alone value. In other words: educate first, sell Firstly, as a marketing second. consultant I would recommend you gather together all of your Thirdly - and this is essential current marketing materials. understand that your client never actual buys your product or service: they are buying the result of that product or service. As mentioned previously, commonsense but not always commonplace.
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So again, appreciate the fact that they have no real interest in what you do, it's what you can do for them, that is the key. So when crafting your marketing materials talk in terms of 'outcomes'; what the client will be left with, after they have engaged your services or used your product. Notice how both these very simple strategies will start to help you be regarded as the preferred choice. It's by no means all of the answer, but it's a very good starting point; and something your competitors will not be addressing. Whilst they simply talk about themselves, and how great they are; you on the other hand, will demonstrate and purposely articulate, a deep understanding and appreciation for your client - which ultimately is all that matters. Andrew Ludlam is the owner of Maverick Marketing Consultancy, and is recognised as a leading expert on advanced marketing strategy and tactics. As a marketing consultant, trainer and author, he has advised many hundreds of business owners one-to-one, and many more have attended his private training programmes.
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Modern Franchise Magazine | 47
RECRUITMENT SOLUTIONS THAT DON’T COST THE EARTH We believe many recruitment solutions are overpriced. Finding you excellent candidates shouldn't cost the earth. Given the high calibre of our talented community, our costs & services provide fantastic value for money. Our Candidates
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Our members are top performers; high-fliers looking for challenging, meaningful and fulfilling careers opportunities.
If your opportunity fits the bill we'll bend over backwards to help you find excellent candidates from within our community.
We believe many recruitment solutions are overpriced.
We're talking the top 2% - high achievers. Thousands of ambitious young professionals with widespread corporate experience & training. What distinguishes these people is that they don't want to be small cogs in large machines. They want to do work that matters, they want to have a significant impact in their organisations. They want to Do Something Different. They want to make a difference. In fact, they want to BE the difference.
Unlike job listing sites and many traditional recruitment companies we focus on quality over quantity. Listings get a manageable number of exceptional applications. Our team are experts in their field of specialty, most having over 10 or 15 years experience in that field before becoming a recruitment expert.
Finding you excellent candidates shouldn't cost the earth. Given the high calibre of our talented community, our costs & services provide fantastic value for money. See our ad -on the next page or visit our website: And see what a difference we can make to our organisation!
This way we can help you get the best people who can make a difference to your business.
www.metrica.com.au 48 | Modern Franchise Magazine
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www.metrica.com.au RECRUIT AS MANY STAFF AS YOU WANT FOR ONE LOW MONTHLY FEE Full Service Recruitment For as long as you are a member we will replace any staff that leave regardless of the reason free of charge No Hidden Costs Your Own Recruitment & People Management Mentor Professional Recruitment Specialists
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Modern Franchise IntelBuildMagazine Magazine| 49 |3
WHAT ARE THE ATTRIBUTES OF THE BEST & MOST SUCCESSFUL FRANCHISEES? Are you the right kind of person to start up a franchise opportunity? Then consider the following attributes of the most successful franchises. By Ray Morehead If you are considering of buying a franchise, you need to understand the psychology that is behind a franchisor's decision to award a franchise to the "right" person.
Regardless of which specific franchise you are considering, you need to possess and exhibit some basic, key skills that will fuel the overall potential for success of your franchise business.
It is also imperative that you are passionate about the product or service and are completely committed to executing the company's marketing plan. If not, consider starting your own business instead.
There are certain essential skills and personality characteristics that encompass a "model" franchisee which franchisors absolutely require, so before you go any further down the road to franchise ownership, you had better do a self-inventory and make absolute certain you have them.
Franchisors have spent plenty of Superior People Skills. time and money researching what the profile of the ideal You need to enjoy working well franchisee looks like. with others as a team. If you don't like interacting with others, Here are the traits of most you'll become stressed, your successful franchisees: employees and customers will sense it, and ultimately your Commitment to implementing business will suffer. and following a proven Obviously, if you are considering system. Instead, display the positive a handyman or home behaviour that you want your improvement franchise and Franchise systems are in place employees to model when you've never used a hammer or because they work. It's that dealing with your customers. A a saw, this could be a serious happy, positive, "customer is simple. If you're nickname is problem. always right" attitude must "Genius" because of your prevail at all times by you, your brilliant, super creative ideas Or if you are looking at a certain that you come up with daily, then managers, and the employees. business to business franchise, franchising is not for you. but you hate selling, you are all Strong Work Ethic. but guaranteeing misery. But Franchisors want implementers those aren't the kind of skills that not entrepreneurs. A must for any potential I'm referring to here. franchisee. If you don't possess Go back and read the previous strong, disciplined work habits sentence again. and have burning desire, you might as well work for someone else and punch a time clock. 50 | Modern Franchise Magazine
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Any successful franchisee will Well-Capitalized tell you that they work until the job is done. They don't quit when Obviously, franchising costs can the whistle blows. be significant. Franchisors will not recruit franchisees that are They'll do anything it takes to get under capitalized. You're facing the job done. Having true an initial investment, the passion to work for yourself will franchise fee, and ongoing tend bring out this work ethic royalties due to the franchisor automatically. plus operating capital.
Make sure you have a good team of advisors that have franchise specific experience and qualifications. Many franchise consultants can help you with this. Franchising is a great business model if you have the necessary skills and mindset to follow a proven and successful formula.
Team Oriented
Royalties are usually a percentage of the income that As a franchisee, you are part of your business generates, which a team in which you have a vital you in turn pay the franchisor, typically ranging from 3%role. This role includes implementing the systems of the 7%. Don't let these costs scare you, though. In return, you are franchise, its’ marketing plan, receiving the franchisor’s staffing plans and operating support, and the benefit of its’ procedures. brand, which is significant. The whole franchise network requires you to do this well or it Many franchisors offer can affect the success not only assistance with financing. You will also be able to benefit from of your franchise but others better pricing and more within the business. favourable purchasing terms as Understanding you are part of a a result of being a franchisee. team and how important your Research. role in implementing the franchise systems even if it contradicts what you have been Seek out assistance. It's virtually used to in the past is something impossible to conduct a that can’t be understated. thorough franchise search, undertake due diligence, and Put simply, it is usually the financial management alone. difference between success and failure.
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If you truly possess the characteristics spelled out above, chances are you have a solid foundation to be a successful franchisee.
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GETTING THE MOST OUT OF PART-TIME AND CASUAL EMPLOYEES Many franchises need to employ part-time or casual staff. Motivating these staff members can be challenging particularly when few see the job as a long term career. However, there are a few things you can do to keep your top employees happy and motivated. Many franchises rely on part-time and casual employees…and for most of these they are the face of the franchise business. They greet and serve customers and are essentially the cornerstone of your customer service efforts. So it only makes sense that if you've gone to the effort to recruit the right employees that you would want to make sure that you keep those top employees happy and motivated. You might be surprised how poorly some franchise operators actually are when it comes to motivating their casual employees. Every organization has its share of overachievers and underachievers and franchising is no different. But one of the secrets to operating a successful franchise year after year is creating an environment where a core group of employees share
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your vision and buy into what you're doing. Do this and you're on your way to not only getting the most out of your employees, but getting the most out of your franchise business. Money is always one of the first topics of discussion when it comes to motivating employees. But chances are, as a franchise business operator, you've only got so much that you can devote to wages. Pay as well as you can and then look for other ways to "compensate" employees. One good technique is to have every employee complete an employee rewards checklist. Just create a simple checklist that gives each employee the opportunity to rate the kinds of things that motivate them. It might include money, gift
cards/certificates, additional responsibility, more training opportunities, and written or verbal affirmation, among other things. Armed with this knowledge, you can now customize your incentive arsenal to each employee based on what they've told you motivates them most. One good strategy is to look for other local businesses that you might trade products or coupons with. Say you operate a fast food franchise, look for a nearby movie theatre that might be interested in trading food/coupons for movie passes. Now you have something to offer above and beyond your hourly pay constraints. When employees go above and beyond the call of duty, reward them with a couple of movie passes.
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Incentives can help create higher recognize employees through expectations and more awards and recognition. motivated employees. These get-togethers also can Here's another strategy. allow employees to spend time Chances are your casual away from the business and employees are going to need have some fun while they're at it. time off on occasion. Don't skimp on prizes and contests. Make it a point to create a culture where that's possible. Make time to visit with, and You may have a lot of high more importantly, listen to your school students who are employees. Encourage involved in sports or other feedback. Be open with your extracurricular activities. goals, expectations, and objectives. Be prepared for this and be able to move work schedules around If you need help with employee to accommodate these recruitment, training requests. management, recognition programs or any human Maybe you even have to work a resources issue, the first point of shift yourself. What better way to call should always be your set an example of sacrifice and franchisor. After all they have dedication for your crew. been through all this before and should have highly developed Parties and public recognition systems in place to help are other tried and true ways that franchisees with all these issues. have been proven to motivate employees. Alternatively, there are many great agencies that specialise in Christmas/holiday/seasonal part-time and casual staff, parties offer a great chance to
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including all the human resource and employment issues that accompany casual employees. The key to motivating casual employees is to let them know that you appreciate them and to identify ways to encourage them. Likewise, expect the worst and you'll meet your expectations. Be authentic. Your attitude and enthusiasm will breed a likeminded culture. As a franchisee, it's so very important to be committed to your employees. Demonstrate a willingness to take care of and sacrifice for the very people that can make or break your operation. Expect the very best from your employees and you may just be surprised with what you get.
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NEW BUILDER PARTNER PROGRAM Builder Partner Program We are seeking quality registered builders to build our designer homes in your region. Design & Marketing
By joining Micheal Polo Designer Homes, you can take on the big guys with strong marketing campaigns and access to national buying rates as well as access to a community of like minded local builders and industry professionals.
Micheal Polo Designer Homes offers a sales, marketing, design and estimating service that will ensure enough genuine opportunity to build a good profitable business within your own region.
How does it work?
Intensive initial training program and ongoing professional development
Micheal Polo Designer Homes Your Local Builder gives you an opportunity, at a low cost, to develop your own business, backed by a comprehensive design and marketing structure and professional company culture.
We know and understand what good small builders do best, build good homes.
Local state office assistance for the franchise lifetime
Time is often lost on the small things. Time that could be better spent driving your core business, building homes.
Professional Marketing & Sales
Responding to the building markets need for designer homes at an affordable price, we have developed a unique business structure that enables regional building partners, across Australia access to our unique designer homes and design services, building group buying rates, and our strong marketing and lead generation service. With over 30 current design plans, with new plans coming online regularly, and a strong web presence, you can be sure of strong business growth in your unique region.
National Purchasing Many builders feel that they have agreements and trade to do everything within their own sharing business, often spreading themsleves thinly and working To find out more, simply click the many extra hours, just to get link below and fill in the “become things done. a Micheal Polo Designer Homes Builder enquiry form�. Being part of the Micheal Polo Designer Homes team means having support structures in www.michealpolohomes.com place so that your time is best used doing what you do best and freeing up your time to spend with your family and friends and more time doing the things that you want to be doing. Michael Polo Homes
The opportunity to become part of an innovative market leading home builder has arrived.
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Estimating service
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Modern Franchise IntelBuildMagazine Magazine| 55 |3
BUILDING FRANCHISES, BUILDING A BUSINESS NOT JUST HOUSES. By Richard Wozniak
There have been some very successful franchises established over the past 20 years in the building industry. We look at the number of new entries into the industry, the motivation behind their decision to franchise and the rapid rise of franchisee numbers over the past 2 years, when franchises in other industries have been through a prolonged flat period. Many smaller builders and trades suppliers simply don’t the systems Over the past 2 years there have or purchasing leverage required to meet their clients’ demands, so been a number of established they just work harder and longer businesses within the wider building industry that have chosen without the enjoying the franchising as the preferred option accompanying rewards. to grow their market share and Getting off the Tools business.
New Franchises
Regaining Your Life For many builders and tradies, working in the building industry means working 6 or 7 days, constant phone calls and interruptions to your daily life.
It also means endless and often pointless quoting in the hope of A key motivation for many builders winning new work. With the building industry and tradies in deciding to join a experiencing strong growth in Joining a franchise has an added most regions throughout Australia, franchise is to ”get off the tools” benefit as many building industry the pressure on builders and trade One key advantage of any franchises have developed suppliers to meet customer franchise is that the franchisor has support systems, quoting systems demand has been significant. developed, tried, tested and and software that enable proven business systems, that franchisees to manage their This has lead to many builders and tradies working longer hours, enables a builder or tradie to “get workload more easily and regain valuable time to spend doing the often for little extra reward, being off the tools” and run thier business as a business and not things they enjoy. under constant pressure and just as a job. finding they no longer enjoy the There are a number of franchises business that they once loved. Getting off the tools has the added that boast a return to 5 day weeks, At the same time, there has been advantage of being able to oversee Monday to Friday, normal quality and work on the things that business hours. I’m not sure this considerable price and is immediately achievable, but performance pressure on builders will improve business performance and results. even a small gain in this area and suppliers to build their homes would be a great improvement for and deliver their services at lower many builders and tradies. cost and more efficiently to meet the markets seemingly insatiable demand.
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Building a Business not Just Strength in Group Buying & Marketing Homes There are many advantages in owning a building industry franchise, but from a business perspective, the most important advantage is building a profitable business that will support your lifestyle from both a financial and time freedom aspect.
This is a topic I could spend a lot more time discussing, as it has so many upsides but in many ways, is self explanatory.
Many franchisees I have spoken to have admitted that the franchise fees they pay are less then the cost savings they gained from joining the franchise in the first Growing from a small builder or place. This alone makes joining a trade supplier isn’t easy without franchise group perfect business the systems, support and sense. If you can save more on teamwork that is required. costs than your fees then you are Franchise networks have a strong ahead from the very beginning. advantage in this regard as they not only have the expertise within This doesn’t always work out to be the case though, so the other their own support office, but the wider experience and knowledge advantages can be just as base of all the franchisees in their important. network. The value of a larger pool of The best franchise systems have marketing funds can never be underestimated. Bringing in a well organised structures for sharing this knowledge. In fact it is constant flow new customers is often one of the most undervalued the lifeblood to any business. benefits of joining a franchise Without this all business stagnate. group.
Valuable Asset You Can Sell More and more, we hear of cases where builders and tradies are excellent at their profession but after years of hard work and having built a great reputation they have little to show for it at the end. Franchises tend to have a better market for the sale of your business, in particular from other franchisees wanting to grow thier own operation. Having a wider client base, strong marketing support to bring in new customers and a larger geographical & brand awareness, all improve the value and ultimate sale price of your business. Of coarse, you can develop all this yourself without joining a franchise, but for many builders and tradies, knowing where and how to start can be daunting. Doing it as part of a successful team of proven performers not only gives you the support structure from day one, it greatly lessens the risk of not getting it right.
Many tradies also only work for one or two builders, which means at the end of the day they pseudo employees and have built very little In the end, it is most likely the value in their business. value of your business that will support you through your The broader your client database retirement. the greater value your business holds.
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Modern Franchise Magazine | 57
CORPORATE & PRIVATE CATERING YOU ARE GUARANTEED TO LOVE!
NWECatering specialises in Corporate Catering and meeting the needs of busy professionals. Providing turnkey catering solutions, NWECatering understands that the requirements of Corporate Catering are unique - timing is crucial so that meetings run on time, fresh, tasty food is essential for maximising productivity and seamless service a must so that no detail gets overlooked.
We have prepared corporate menus that cater to a wide variety of office catering needs and suit a range of corporate catering customers in Melbourne. NWECatering provide corporate catering services to many organisations, companies and other corporate customers around Melbourne metro.
We Are The Office Catering Specialists!
NWECatering provide corporate catering services in Melbourne CBD and to all Melbourne Metro suburbs.
Whether you are rewarding hard working staff, celebrating a success or entertaining valued clients, NWECatering integrates their expertise in corporate catering with your specific needs and requirements.
Whether you are organising a large corporate function, relaxed office Christmas party or preparing for a critical board meeting, it’s important to get fast, fresh, healthy and delicious food delivered to your door.
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Our platters and All Day Menus are fully flexible and our catering service is tailored to suit your individual catering needs. We can deliver your food tastefully presented, heated (where necessary) and ready to serve, or do absolutely everything and free you to enjoy your special event. Once you see our prices we know you’ll wonder why you ever considered doing the work yourself! We provide office corporate catering to boardroom meetings, farewells and business lunches, conferences, product launches and any other corporate or office catering around Melbourne.
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The Corporate Catering Experts! A lifestyle business that’s full of life and has plenty of style Our catering and event planners have one of the most exciting and rewarding lifestyles assisting in creating an unforgettable experience for our clients and their attendees. Product Launches Charitable Causes Meetings Conferences Corporate Events Awards Nights Marketing Events
Join one of the world’s fastest growing industries and have fun at the same time If you’d like to help create a memorable, lasting impression on your client’s attendees and you have a professional outlook and a desire to build your own lifestyle business, then this opportunity could be for you. Our catering & event managers enjoy a lifestyle and rewards that most people envy. For more information visit our website or send us an email:
www.nwecatering.com.au email: events@nwecatering.com.au NWE CATERING & EVENTS
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Modern Franchise Magazine | 59
WOULD YOU LIKE A CONSTANT FLOW OF NEW CUSTOMERS? No matter what your business or industry we can help you consistently gain more customers and build your business and your brand - FAST!
Run with the big dogs...and WIN!!! Consistently Win New Customers Be Seen as THE Experts in Your Industry Strengthen Your Client Relationships Expand Your Database by Thousands or More... Develop Profitable Alliances Look More Professional Build Your Brand Optimise your ROI
60 | Modern Franchise Magazine
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NEW MEDIA SOLUTIONS THAT BRING RESULTS Once upon a time advertising to a marketing tool that many more wide audience was limited to only readers are interested in receiving the largest of companies. and will open every time it hits their inbox. The Internet has changed that forever. The playing field, at least After all they have asked us to as far as the Internet goes, is far send it to them! more level and enables almost any business to promote and market All our magazines are FREE to themselves regionally, nationally or subscribers meaning that more internationally at a very small cost. people are likely to subscribe and more people will see and hear SME’s now have the opportunity to your message. take advantage of Internet Marketing and grow their business All magazines are compatible with in a manner to meet their business iPads & Smartphones and are aims. structured in a way to maximise the readership via mobile media. Maxiom is an Australian leader in the field of online publications and Being an online publication has Internet Marketing. With over many other advantages, enabling 300,000 subscribers to our online you to incorporate rich media such publications, and growing daily, the as links to your web site, video & opportunities for our clients to audio, including YouTube, Flash, exploit permission marketing are and our publication are now html5 enormous. and JSS javascipt coding enabled which means that almost anything Sponsoring a magazine relevant to can be included on a magazine your industry is a terrific way to page. Plus each page and each been seen in the market place. article is catalogued so that you With many more companies can post them or share them via targeting email marketing it is social media. sometimes easy for your message to get lost amongst the Advertisers also get the same plethora of messages received interactive functionality, meaning everyday. readers can immediately click through to your site for more By publishing an informative and information or to take up your offer. appealing online magazine, businesses now have an online Maxiom offers enhanced communication with your target
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market and is supported with email marketing campaigns and other Internet marketing tools all included in the packages available. Every publication has its own dedicated account manager and marketing mentor whose sole function is to assist our clients maximise the effectiveness of their New Media marketing solutions. You can find out more about how Maxiom can help your business grow by contacting one of our consultants:
maxiom Maxiom Group Pty Ltd Level 2, 710 Collins Street Docklands Vic 3008 Tel: (03) 9097 1606 Fax: (03) 9097 1607 Email: info@maxiom.com.au www.maxiom.com.au
Modern Franchise Magazine | 61
The Siimon Reynolds Strategic Entrepreneur
THE AUSTRALIAN BUSINESS EVENT YOU SIMPLY CAN’T AFFORD TO MISS! This is the business workshop of the year. They have organised a lineup of expert business speakers over the three day event. These are the professionals that Siimon Reynolds uses to create businesses online and in the real world. They have a multitude of disciplines involved and will cover everything from copywriting, pay per click advertising, exit strategy, backend systems, search engine optimization, webdesign, sales technique, social media, remarketing, public relations, franchising, online marketing and raising finance. You name it - they have an expert that specialises in it!
The Next Siimon Reynolds - Strategic Entrepreneur Seminar will held in Melbourne - coming soon! Stay tuned for the dates... AND YOU WON’T BELIEVE THE PRICE!
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Complimentary gift Thanks for taking the opportunity to grab this fantastic book! Simply go to our website and fill in your details and we will immediately email you a copy of Siimon's book. We will also send you our bonus series of short business building videos that are packed with tips and tricks for success. Over the last 25 years, Siimon has created multimillion dollar businesses from the ground up and is now teaching other entrepreneurial business people his systems for success. He started the Photon Group and grew that company to be worth over $500 million while employing over 5000 people so he can definitely help grow your business. Siimon has a passion for helping entrepreneurs build and grow so definitely read his book and check out his short videos asap.
For more information, to download the book or watch the videos visit our website https://fortuneinstitute.infusionsoft.com/go/zigzag/Maxiom/ 24 | Modern Franchise Magazine maxiom
Modern Franchise Magazine | 63 maxiom
About Modern Franchise Magazine Publisher Maxiom Group Pty Ltd 2/710 Collins Street Docklands Vic 3008 Australia www.maxiom.com.au Editor Mark Matthews Digital Magazine Created By Modern Franchise Magazine Online www.modernfranchisemagazine.com Advertising Enquiries 1300 855 696 (within Australia) + 613 9097 1606 (International) modernfranchise@maxiom.com.au Editorial, Media Releases & Article Submission magazine@maxiom.com.au
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DISCLAIMER Information published in this online magazine has been compiled with due care and attention, but it does not clam to be exhaustive. Maxiom Group and/or Modern Franchise Magazine cannot be held responsible for the content of external sites reached via a hyperlink from this site. We accept submissions from outside contributors, and whilst great care is taken, the author of the submitted article is responsible for what they write, and Modern Franchise Magazine will not be liable for any loss or inaccurate information or any other omission or error by outside contributors. This online magazine is provided for information only. It is not intended to replace a consultation with a qualified industry professional. Modern Franchise Magazine does not accept responsibility for any loss, damage or injury that arises from the use of this online publication.
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