What do I need to know before I start?

It is crucial to thoroughly research any business opportunity, whether a franchise or not. Is there a demand for the business’ products or services in the area? Who are its competitors? How many hours a week are required? What is the growth potential?

You’ll need to conduct due diligence on any business you consider, preferably with the assistance of an accountant who specialises in franchising, and seek legal advice on any contract before you sign.

There are many organisations that can assist with your research, such as the Franchise Council of Australia, the Australian Competition & Consumer Commission (ACCC), the ATO and the Small Business Commission in your state. And of course visiting the Franchising & Business Opportunities Expo is a must, whether you want an overview of the industry, or are seeking specific information from franchisors face to face. The Expo also offers free seminars on all aspects of franchising and insights from real-life franchisees.