Vicki Prout, Sherpa Group first entered the franchising sector when she left the Royal Australian Navy after a decade of service and decided to purchase a business. Researching different opportunities led to confusion and became in some instances a painful experience, she writes.
“In franchising there is a wealth of expert advice and solid information available from government departments, the Franchise Council of Australia, franchise consultants and, of course, the franchisors themselves. While this is all extremely relevant and useful, my experience showed the research and advice given was strongly geared around core business principles like profitability, the success of the brand to date, the simplicity of the business model, the systems, what my accountant thought – it’s all about the numbers! Now don’t get me wrong, it certainly is about the numbers but also so much more. Read on…