Franchise Your Business

By Professor Lorelle Frazer, Asia-Pacific Centre for Franchising Excellence, Griffith University

What about due diligence for prospective franchisors? Don’t go in blind!

We’ve talked a lot about due diligence for franchisees but what about franchisors getting the same advice?

Before emerging franchisor’s decide to launch into setting up or rolling out their existing business as a franchise model, they need to do due diligence around what is involved in franchising and really ask the question before launching into it… "Is being a franchisor really right for me and my business?”

 As part of our ongoing commitment to providing the foundations for future success in all aspects of franchising, Griffith University’s Asia-Pacific Centre for Franchising Excellence is pleased to launch an innovative new e-learning product, How to Franchise Your Business.

The How to Franchise eClass is the latest addition to the Centre’s suite of resources focused on crucial early education for new entrants to the franchising sector.

This new course has been specifically designed for prospective franchisors to determine the suitability of their business for franchising, before more detailed analysis and preparation are undertaken and significant costs incurred.

Are you currently pondering these questions?

  • Can a business like mine be franchised?
  • Do I actually know what is involved with franchising a business?
  • How do I go about it and what skills are required?

Answers to these questions and more are found in this new course, which is now available for purchase and can be completed online module-by-module at your own pace.

Our Centre already runs a popular pre-entry program for prospective franchisees, however our work has identified a market need for similar early education for prospective franchisors. The course content helps to set the scene for anyone interested in exploring a pathway to franchising their business.

The starting point is to assist in determining the suitability of franchising as a viable expansion model. We know that the average investment to franchise is high and there are many complex steps and legal requirements to navigate through. While the franchising model does present great growth opportunities, you have to know what you are getting yourself into and what you are doing.

Before there is an investment of a lot of money and time on this journey, the How to Franchise eClass can assist to understand the fundamentals of franchising and if it really is the right course for a business. The answer that you reach may be yes, or it may be no.. Either way, you will be empowered with all the essential information you need to make a truly informed decision.

Across all of its franchise-specific educational offerings we, (the Asia-Pacific Centre for Franchising Excellence) are committed to promoting best practice standards to ensure more successful and sustainable franchise systems, for franchisors and franchisees alike.

Early education is essential to plotting the right path for all parties entering the world of franchising, and the new How to Franchise eClass provides an invaluable roadmap for prospective franchisors.

If you have built up your own business and want to determine its suitability to be franchised, and understand everything involved, then I would recommend that you investigate this course.

Click here for more information regarding the How to Franchise Your Business online course