If you’re looking to start a business, buying into a franchise can be a good alternative to starting a unique venture. Similarly, if you’re planning to expand your business, a well managed franchising agreement can be an effective way of moving into new markets.
Franchising allows one business to operate under the trading name of another business' established brand and sell its products and/or services for a specified period.
Like any business decision, franchising must be considered carefully and the right processes should be followed. It’s important to also note that franchising is regulated by the Franchising Code of Conduct.
Read through these steps to help you understand franchising and whether it’s right for you: