The Australian:
With the Australian economy heading for an economic slowdown at best and a recession at worst, two things are for certain.
Some businesses will experience tough times, and hundreds of thousands of workers will lose their jobs.
History shows that when some employees lose their jobs and are given a golden handshake, or are in an older age group where bosses often aren’t focused, there is a tendency for the displaced workers to buy themselves a job by purchasing a franchise.
So what does someone need to know about franchising in a slowing economy? And which businesses are expected to do well, and which not?
“In the current economic environment the franchise systems that will perform best have more to do with the quality of the franchisor and underlying franchise system and business than it does any specific industry factors,” says Adrian McFedries, of franchising consultancy DC Strategies.
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