A revolutionary new educational offering from Griffith University’s Asia-Pacific Centre for Franchising Excellence has been launched to address the most important of decisions facing those embarking on a journey to become a new franchisee.
There are consumer signposts everywhere today for people looking to make purchases of all shapes and sizes. Consumers have a myriad of ratings, comparison mechanisms and checklists at their fingertips at all times. But where do you find similar buyer-focussed information when you are looking to buy a franchise?
Knowledge is power in any decision-making process and buying a franchise is arguably the biggest and most important decision that someone will make in their lifetime.
‘How to choose a franchise that is right for you’ is an innovative new eClass from the Centre that builds on its unrivalled suite of resources to promote crucial early education for new entrants to franchising.
This is a unique new educational tool, not available anywhere else in the franchise sector, which provides the valuable framework and signposts for prospective franchisees to navigate what is a life-altering business decision. It is 100% impartial and independent, with no vested interests or selling of franchise systems.
The eClass content has been specifically developed in response to demands for more practical guidance, knowledge and education on the key question of how to choose a franchise that is right for your personal, professional, financial and lifestyle goals.
Just as ever-increasing consumer demands have lifted the standards of product and service offerings across all aspects of modern society – from buying a coffee, a car, a house or holiday – it is envisaged that this new learning tool will help to boost standards throughout the franchise sector on the back of better educated and more discerning franchisees.
Centre Director Professor Lorelle Frazer said the new ‘How to choose a franchise that is right for you’ class adds another important layer of learning to pre-entry franchising education.
“This is a ground-breaking new product for those who have made the decision to buy a franchise, but have yet to decide which one,” she said.
“There is no other product available that walks you through step-by-step the process of actually deciding which franchise is best for you, with no strings attached.
“We are very proud to be delivering this new self-guided eClass in response to demands from prospective franchisees for more guidance on this most important of decisions, and we believe it will have a positive flow-on impact across the franchise sector.”
The ‘How to choose a franchise that is right for you’ eClass is a sector-leading product that aims to fill the gap for an easy-to-follow roadmap that will guide the way for those making their first steps into franchising as a new franchisee.
Choosing a franchise is a big decision that will have a huge impact on a new franchisee’s finances, work-life balance and future. It therefore makes sense for this decision to be afforded the same level of scrutiny, comparison and analysis as more routine and less-influential purchases.
The overriding goal of ‘How to choose a franchise that is right for you’ is to empower those seeking to buy a franchise to take full responsibility for what is a life-altering decision. To probe, question, compare and analyse, not just blindly accept what someone selling a franchise says.
It is the essential guide to choosing, buying and becoming a franchisee and provides the proven know-how to expertly navigate this process, covering everything from understanding franchise terms, the questions to ask, the paperwork and costs involved, due diligence and the professional advisers you need on board.
There are endless franchises out there to choose from and plenty of traps for unsuspecting new-comers to franchising. This class will help to avoid the pitfalls, save money in the long run by making the right decision up front, and set the foundations for a successful and sustainable franchise journey.
‘How to choose a franchise that is right for you’ is presented in six easy-to follow modules that provide the framework to guide you in this most critical of business decisions:
Module 1 – Getting ready
Module 2 – Analysing a franchise
Module 3 – Asking the questions
Module 4 – Going through the paperwork
Module 5 – Analyse the business offer
Module 6 – Become a franchisee
The class is filled with valuable tools, checklists, calculators, timelines and templates to ensure you are making the most informed and rigorously road-tested decision possible.
Key learning outcomes include an understanding of: why you want to buy a franchise, the different franchise types and their pros and cons, how to assess the franchise business model and if it is suited to you; the processes to go through to know what you are actually buying, and how to go about making a decision on which franchise to buy.
For more information, visit www.franchise.edu.au or contact Kerry Miles on (07) 3382 1125.