Why should I franchise my business?

Franchising a business offers many benefits. By joining The Local Guys, you have the opportunity to grow your business to a national scale. Franchise partners will be buying into your business, as opposed to you employing them. This means a higher standard of work, as franchise partners are wanting to grow and take pride in their business.

Can I still run my own business?

Yes! We encourage you to still run your own business in the background. However, this will need to be rebranded to The Local Guys group.

How do I earn money as a Divisional Franchise Partner?

Divisional Franchise Partners can earn money by onboarding, training and supporting Regional and Unit Franchise Partners. For every Franchise Partner you onboard, you will receive a large upfront sum. Additionally, you will also receive ongoing royalties for supporting them. You can also earn an income from your own services and clients.

I don’t know anything about franchising, can you help?

Of course! Through our experiences, we have been on both ends of the spectrum as franchisees ourselves, as well as franchisors. We understand every aspect of franchising and will pass this knowledge onto you.

Do you help find new franchise partners?

Similar to finding clients, we utilise Google Adwords and search engine optimisation to build our site traffic. In addition to these, we also advertise on Seek and other franchising sites to target those who are interested in a career change or to start their own business.

Do you help train and onboard new franchise partners?

One of the main benefits of joining a franchise is to receive ongoing support. Here at The Local Guys, you can contact us anytime during business hours to gain assistance on the onboarding process. We are there with you throughout the process. We also have our online training platform for additional assistance.

How long does the process take?

As you are franchising your existing business under The Local Guys brand, the onboarding process is dependent on the division. However, it is likely it will take between 6-8 weeks.

Do you help with marketing and sales to find clients?

Through Google Adwords and targeted search engine optimisation, we build up the traffic to our website, which ultimately brings in more clients. We also utilise the marketing fund to create targeted advertisements for your territory and surrounding suburbs. In addition to the ongoing leads you will receive from the Support Centre, you will also receive the Local Area Marketing Plan during your marketing training, which has been designed to assist you in finding your own clients.

I have heard it costs $150,000 or more to start a franchise. How much will it cost?

Yes, it can cost a lot of money to franchise your business with your own brand. Typically it will cost between $55,000 – $150,000. However with the local guys it costs only $25,000 ex. gst plus training.

Franchise for Sale Central Coast – How much money can you actually make?

Admit it but one of the reasons why you’re entering the business world is you want to make more money by generating revenue. When it comes to franchising, the potential for gaining more profit depends on many factors, including your effort and time investment. The better your performance is, the higher your profit will be.

As a franchisee, you’re an independent business owner, you will pay yourself an income based on the revenue of your business. Since you’re in charge of managing your company’s finances, you can pay yourself as much of a salary as your profits allow. Now, learn the different factors that will help you drive sales for your franchise.

Loan payments
If you took out a loan to buy a franchise, it is essential that you’re up to date with payments. Loans can have compounding interest, which when not paid on time, will just eat your profit. Business owners basically consider taking a loan to invest in expansion opportunities. When your business is booming, continuing to grow your business and paying your loan on time helps ensure that your profits don’t plateau or shrink. Of course, further growth can foster new product acquisition, continuous demand and supply cycle, increasing staff sizes, and increasing sales.

Business reinvestment
Reinvesting in your business can be in the form of opening a new franchise from the same mother company. Even if you’re now making a profit, you can buy a second franchise to diversify your source of income and reap more benefits. Even when you are new, you can reinvest another franchise in another location to create additional income sources. Early growth also gives you an advantage in market and industry positioning, getting you more income throughout the years.

Taxes
Another challenge for business owners is paying off taxes. Like your loan, taxes can be paid monthly, quarterly, or yearly. Paying your taxes on time will help promote the longevity of your business and give you a good credit score. Moreover, taxes can also earn interest when not paid on time. Non-payment of taxes may also result in the cessation of your business.

Profitability
Franchise businesses are usually in a profit-sharing scheme wherein franchise owners will share in the total profit, depending on what is agreed on in your franchise agreement. Some other franchises would only require franchisees to pay a flat fee and royalties, but don’t need to share profits. You must check the terms and conditions of your franchise since it is unique for everyone.

As for franchise owners, their profits come from royalties that they get from franchisees for operating a business under their brand. On the other hand, franchisees can enjoy their profit from their stores.

Increasing Your Customer Base in Central Coast

One of the benefits of franchises is having a good marketing plan to follow. So, if you want to drive more sales, make sure you have implemented the marketing plan. Even so, you should feel free to observe your market and see how your customers are reacting to the marketing plan. Use your observation to set specific objectives and clear actions to do. You can include this in your reporting so the company can create a tailored marketing strategy for your location.

It’s worth noting that every location may require a different marketing strategy. So, if the current marketing strategy you’re following does not work, you can work with the company to create a location-focused approach through your reporting. Unlike running your own business, franchising does not leave you fully alone. This is why you should take advantage of the support provided for you by the company. Once you build a strong customer base, you could potentially earn more.

We Have Franchise Opportunities In
Every Australian State!

With franchises across Australia, we have opportunities available to Franchise Partners across the country! If you’re looking for a new and exciting business venture with the support of a national company, you’re in the right place. Learn more about our Franchise Opportunities or get in touch to learn more today

Franchise for Sale Central Coast – How much money can you actually make?