The franchising industry has broken out of the current downbeat economic climate, recording growth of 10% for both profits and revenue in the past year, according to a new PwC indicator.
The fourth annual survey into the franchising sector, which questioned 101 franchises with more than 20 locations, found the market remains particularly strong; non-retail franchisors recorded an average growth rate of 14%.
Franchisors expect profits to increase 10% in the next 12 months, and 30% in the next three years.
However, there are still challenges, with some franchisors finding it difficult to locate franchisees and economic concerns also dogging some companies.
With this in mind we’ve put together this eBook of 10 tips from some of the top Australian franchisors, including advice on how to fine-tune your franchisee selection, keeping your franchisees happy and how to set up a strong franchisee recruitment strategy.
SmartCompany is a completely free news, information and resource site for Australian entrepreneurs, small and medium business owners and business managers to help keep them ahead of their competition. Each weekday, the newsletter is published around lunchtime, filled with the latest content.
Never before has anyone managed to successfully build a high-quality publishing business around a community of small and medium businesses.
The SME sector was too disparate. There were too many companies at different stages of their life, with different levels of expertise and different needs.
But today the SmartCompany community includes more than 50,000 email subscribers and 260,000 unique website visitors each month.
We’ve held more than 110 webinars, attended by more than 12,000 people. Our eBooks have been downloaded more than 30,000 times. Our new short courses have been taken by more than 5,000 people.
How have we done it? By focusing on the thing that unites entrepreneurs: Passion. We know entrepreneurs are passionate about building a strong, profitable, sustainable business. We know how much they love creating jobs, developing their people and giving back to the community.
By putting entrepreneurs at the centre of everything we do, we’ve been able to create a website that not only informs, but also inspires, educates and offers insights and advice.
James Thomson, editor of SmartCompany
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.