Many Australians dream of opening their own business. Yet – according to the Australian Bureau of Statistics – more than 60 percent of small businesses stop operating within the first three years.
That’s a pretty scary figure and perhaps goes some way towards explaining why franchising continues to boom in Australia. There are an estimated 79,000 businesses now operating as part of a franchise, according to the Franchising Council of Australia.
What Are the Advantages of Franchising?
One worry that people have is whether joining a franchise will negate decision-making powers.
This is not the case. Being part of a franchise means you can tap into an established business model and access support while still making decisions as an independent business owner. You decide who to hire, who to fire and what kind of local marketing you will do.
At the same time, being part of an already successful franchise reduces the risk when starting out on your own. It can be nerve-wracking being in sole control of a business. Being part of an already successful franchise means you will have back up when things get tough.
However, not all franchises are created equal. Before investing, you need to do your due diligence about a group’s business model. The proliferation of franchises in Australia means that research is essential. Stay away from ‘get rich quick’ schemes which promise you the world without hard work. Talk to some other franchisees about their experience and get first-hand feedback. This will give you a realistic insight into what’s happening on the ground.
Croc’s Playcentres is a reputable franchise that has gone from strength-to-strength since it was founded in 2008. As a brand leader of children’s indoor play, their expansion throughout Australia has been supported by the quality of their franchise offering.
With business training skills and end-to-end marketing and business support, they’ll enhance your chance of success.
Find out more today about joining the Croc’s Playcentre’s family and realise your dream of owning your own business.