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.

Signs That You Have the Best Franchise to Buy in Melbourne

So what are the signs that you have the best franchise in Melbourne? How do you know it is the right franchise to buy? When you start looking for small business ideas, the franchise model looks appealing. Franchising is one of the easiest ways to start a business because it helps you skip the hassles of starting from scratch. We understand that running a business for the first time can be scary. So, in this article, we will give you a rundown of what makes a great franchise to buy in Melbourne.

Industry Growth

Some franchisors would provide market research on their products or services. Equally vital is the growth potential in your local area. Industry growth is the result of the increase in demand for new products and services offered by the company. An example of this is the technology sector whose products have become runaway hits with customers and led to a multi-billion market. The key is to look at the demands of the people in your area and assess the right type of products and services that you can offer.

Unit Growth

The best franchise to buy in Melbourne is one with a thriving unit. The more units that are open, the stronger the brand awareness is for customers. It is important to consider the system’s growth since it relates to potential risk factors and your investment. An increase in unit growth can have a positive effect on the long-term viability of your business. Unit growth is just one of the ways to know that the franchise is growing. You know it’s a great franchise to invest in when it has an increasing number of new unit openings in the systems.

Strong support from the franchisors

Not all franchisors can provide the necessary support that franchisees need to thrive in business. But when you find a franchisor that provides support to their franchisees, it is a good sign that you are in good hands. There are six different types of support that franchisors usually give such as financial assistance, location selection, training, an operations manual, advertising and marketing, and ongoing support. Financial assistance is rarely given but when the parent business is a member of a larger program, franchise operators can also benefit from it. Ongoing support can also come in the form of training, ads support, seminars, and promotions.

Good management

Good management yields a strong team and company culture that makes a successful business. Meet the management team and the franchisee support staff to get a feel of what it would be like to be working with them. Effective franchise management would have franchisors constantly looking at the needs of franchisees and working with strategic partnerships and alliances to further grow the entire business. Every part of the franchise system must be seen as a “friend in the business” and ought to receive good communication on a regular basis in terms of new regulation updates, resources and opportunities, and marketing strategies.

Satisfied Franchises

You know you’ve found the right franchisor when you see many other satisfied franchises. Meet and talk with both current and former franchisees to get their honest opinions. If the franchisor is faxing legal issues from its circle of franchisees, that is a red flag. But if you find that the franchises are satisfied doing business for a long time, it means you have made the right decision.

Adequate Earnings

Of course, the major reason for putting up a business is to have an extra income stream. If your franchise is not earning adequate income; you may close sooner or later. Some franchisors provide average earnings information in the Franchise Disclosure Document but for others, you need to come up with your estimate.

Sound Financial Statement

Have your accountant go over the financial statement in detail and see whether the future holds for the business you’re just about to enter. Some signs that a company has a good financial status include growing revenue, a good cash balance, and a low debt ratio. Looking at the profit-and-loss statement, you should be able to see a higher growth spurt than expenses. If the expenses lay flat while the revenue increases, it is a good sign that you’re in the right business.

Honesty and Transparency

Good franchisors will be more than happy to answer questions you may have. Getting a fast response will ensure you will receive on-time support just when you need it in the future. The way a good franchisor treats you is a good indicator of how you will be treated when you’re a franchisee.

A Good Fit

Even if the franchise meets all of the above criteria, there is one last thing you should consider – the franchise must be a fit for your personality and skills. You must be passionate about the franchise you’re about to buy. When you enjoy what you’re doing, it is easy for you to run your business. Being satisfied at work and loving what you do is an overall productivity booster and performance enhancer. Various research has proven that people who enjoy their jobs are more likely to be more optimistic, deeply motivated, and make few mistakes.

Conclusion

Are you ready to start your small business? Having the best franchisee in Melbourne can take you to new heights in your career and entrepreneurial business. Just remember when you have the best franchisor on your back, growing your business will be a lot easier. If you have any questions about running a franchise, feel free to get in touch with The Local Guys.

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!

Signs That You Have the Best Franchise to Buy in Melbourne