Blog

On our Business Franchise Blog, we share a wealth of content from knowledgeable writers around the world. Here you'll find both news and advice covering everything in franchising and business. Whether you're just getting started, expanding your business, or just want to stay up to date, the Business Franchise Blog has got you covered. Find more specific content by also visiting our Expert Advice and Latest News pages.

Lessons from the west: how to maintain business in tough times and set up for new growth

October 6, 2017
Following a tough economic run, mainly due to the downturn in the mining industry, Western Australian businesses are now moving towards growth. They’ve learned lessons about how to maintain the business in tough times and position the business for new growth, and these lessons can benefit all Australian organisations, according to RSM Australia. Craig Ridley, director, Business Advisory, RSM...

Annual Review reveals record dispute numbers

October 5, 2017
The Financial Ombudsman Service (FOS) Australia received record dispute numbers in 2016-17, according to new data published today (05-10-17). The Annual Review shows that FOS received 39,479 disputes, a 16% increase from last year, after a 7% increase the previous year. The increase was driven by continued growth in general insurance disputes. The number of general insurance disputes received (13...

Digital investment by SMEs comes with concerns around digital security

October 5, 2017
RSM thinkBIG 2017 survey reveals challenges and strengths for Australian SMEs Digital security remains a significant risk for most small- to medium-sized enterprise (SME) owners, according to RSM Australia’s thinkBIG 2017 findings. Many SME owners still don’t recognise the importance of regularly reviewing their information security policies, with this figure remaining startlingly low; almost...

6 Key Ways to Build a Successful Franchise Team That Will Go the Distance

October 4, 2017
By Mary Walton Building a successful team, franchise or not, is no easy feat. The biggest problem when the word ‘success’ is thrown around is people imagining a highly competitive environment where everybody’s out to be the best, which is great, but it also creates a negative image of the work environment. However, the second thing you need to remember is the word ‘team’. By spending time in...

The growing importance of finance teams for business success

October 4, 2017
The past few years has seen most finance teams move away from a traditional, number-crunching focus and into a more strategic, business advisory focus. This benefits the organisations they work for and helps finance leaders demonstrate ongoing relevance in a changing business landscape, according to Concur. Matt Goss, ANZ managing director, Concur, said, “Being strategic means spending time on...

Top 5 challenges for small businesses and how to overcome them

October 4, 2017
More than 60% of small businesses in Australia fail during the first three years of establishment. Research has found that those initial three years are crucial in determining the fate of the business[1]. John Corias, Senior Partner of small business accounting firm m.a.s accountants, shares his take on the top 5 challenges small businesses face and how to overcome them: 1. Rising energy bills...

The Truth About Fixed Versus Percentage Royalty Fees

October 2, 2017
Franchising is a common option for people who want to venture into a business. The drive and enthusiasm of the entrepreneur, plus the experience and expertise of the franchisor make the perfect combination for achieving financial success. Investing in a franchise will typically require you to pay an upfront franchise fee and periodic royalty fees to the franchisor over the life of the franchise...

Preparing to exit a business

September 27, 2017
Given every business owner will exit the business eventually, an exit strategy is essential to avoid unnecessary costs and complexity. Creating an exit plan mitigates the risk faced by business owners if they had to leave the business due to illness or death and, with the right advice, can structure the business to make it easier to sell, pass on, or wind up without incurring undue costs or taxes...

Why lead prioritisation should be a priority for organisations

September 27, 2017
As the race to digital transformation accelerates, organisations are spending millions of dollars on implementing digital ecosystems and customer relationship management (CRM) solutions to help convert leads into real business. However, the reality is that many of those projects fail to deliver what was promised in the business case, according to Empired. Ben Johnson, national business manager,...

Is buying an existing business better than starting from scratch?

September 22, 2017
This is a question which every potential business owner should ask before committing. While there is limited evidence on the exact reasons for small business failures, we know that business failures are highest in the first two years of the start-up phrase, with the probability of failure reducing after this period. Survival rates improve over time when a business has: Found a market for its...

The 10 Mindsets You Need to Become a Successful Business Franchisee

September 20, 2017
The 10 Mindsets You Need to Become a Successful Business Franchisee Your state of mind is one of the key factors that determine your success especially when venturing into a business. Furthermore, your mindset becomes more important when investing as a franchisee. A franchisee practically owns the business of another business owner and there are structured rules that one must comply with....

Buying a franchise business - what do you need to look out for?

September 19, 2017
Buying a franchise business - what do you need to look out for?                     Jeremy Streten | Lawyer & Author Are you considering buying a franchise but don’t know where to start? Have you heard horror stories from your friends and family about buying a franchise? Do you want to give it a go? Buying the right type of franchise is a great way to get into business as you are buying a...

The pros and cons of innovation equity funding

September 19, 2017
In an attempt to make it easier for small- to medium-sized businesses (SMBs) to raise funds while ensuring adequate investor protection, the government has made changes to the crowd-sourced equity funding (CSEF) scheme, which will commence on 20 September 2017. (1) However, there are doubts about the new fundraising approach and the conditions of eligibility, as 99.7 percent of Australian...

Retail businesses still face insolvency risks despite new safe harbour laws

September 18, 2017
New safe harbour legislation which passed through Federal Parliament last week will be unlikely to settle the personal liability fears of current and aspiring company directors in the retail industry, according to a leading insolvency expert. Currently awaiting royal assent, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 amends the Corporations Act 2001 (Cth) and aims to...

SMEs and BAS: the consequences of late lodgement

September 15, 2017
One of the biggest mistakes some SMEs make is putting off lodging their quarterly BAS returns. For those who do their own books, there are a number of reasons for this – they get caught up in the day-to-day running of their business or the person who has been doing their books for them is no longer available. While some business owners have a laissez-faire attitude to lodging their BAS returns,...

How to keep data secure in the age of remote working

September 13, 2017
The mobile workforce is increasing but many businesses do not have adequate solutions in place to protect sensitive information across diffused and decentralised computing infrastructures. With an increasing challenge to keep machines and data secure, new combinations of solutions are required, according to Palo Alto Networks. Ian Raper, Regional Vice President, ANZ, Palo Alto Networks said, “In...

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