Business Franchise Australia

TRUSTED GLOBALLY FOR OVER 30 YEARS IN FRANCHISING

BUDGETING FOR AN EMERGING OR GROWING FRANCHISE GROUP

As Greg Nathan from Franchise Relationships Institute states in his book Profitable Partnerships, ‘Happy franchisees are profitable franchisees and profitable franchisees are happy franchisees’.

But getting franchisees to a point where they understand what it takes for them to be profitable can be tricky. I believe success starts right at the beginning, when a prospective franchisor defines exactly what their franchise group will look like and who will do what, and then managing budgets to make sure it all works.

There is a process which starts at concept stage and keeps going all through the life of the franchise, changing with the times. Managing this process through thick and thin is the clear responsibility of the franchisor. This is one of the key features that attracts astute people to the franchise sector, and why it is such a standout success.

Let’s look at how this process works.

 

 

Greg Nathan Franchise Relationships Institute

Founder and Director

Greg is a business psychologist and has been recognised globally for his pioneering educational and research work to support the franchising sector. He is the recipient of the Franchise Council of Australia’s (FCA) inaugural National Contribution to Franchising Award, an inductee into the FCA Franchising Hall of Fame, and recipient of the International Franchising Association’s (IFA) Crystal Compass Award for Outstanding Leadership in Franchising. Greg is a dynamic educator and is regularly invited to deliver keynote addresses at franchise sector conferences around the world.