With many Australian franchise systems commenting on a lack of suitable franchise applicants domestically, and the economy still growing despite the impact of the Global Financial Crisis overseas, business migrants are attracted to Australia and buying franchises to meet their visa requirements.
Migrants from around the world are increasingly attracted to franchising as a way of qualifying for an Australian business visa and are prepared to turn their lives upside down to settle Down Under.
At the same time, steady growth and a lack of Australian franchisees mean that business migrants are helping maintain the sector’s strong 14% annual growth rate (Source: Franchising Australia Survey) despite the fierce competition among systems for new franchisees.
State governments are also acknowledging that franchising is an attractive proposition for business migrants compared to the purchase of stand-alone businesses, and are keen to attract business migrants and their contribution to the state economy.
However the overall number of migrants coming to Australia on business visas is low, accounting for less than 20% of visa applications. More.
