Franchising in Australia is not as complicated as you think.
Are you thinking of becoming a franchisee? This is a big step in your professional life and buying one from a reputable business can do wonders. If you’ve decided to invest in a health and beauty franchise, even better. Globally, businesses under this industry have seen a boom in profit, and there’s space for you, especially in Australia where there is a healthy support for franchise owners.
This quick guide will help you get ready for your franchising journey, from understanding what franchises are to the necessary documents you should be getting from the franchisor. Read on to take the plunge.
What Is Franchising?
At the most basic level, franchising is a business relationship where the owner of the business allows other people the right to market and distribute their goods and services for a certain period of time.
If you want to buy a health and beauty franchise, this is a good time to do so. This industry is competitive with several national players, including Laser Clinics. Additionally, in Australia, the aesthetics industry is booming: cosmetic treatments in the country have risen to $1 billion in 2016, with no signs of stopping.
All it takes is choosing the right franchisor and taking into consideration their terms and agreements, their business model and other marketing support they are willing to offer or shoulder.
What Franchising Isn’t
There are different types of businesses out there that may sound like a franchise but aren’t. Here are some models:
Advantages of Franchising
If you want to try out owning a business, you can try franchising first. This type of business will be advantageous in different aspects such as:
Buying a franchise from Laser Clinics Australia, in particular, gives franchisees ongoing support with a comprehensive training program, operational support and a full suite of cloud-based business management tools that will help our partners grow and succeed in their clinic.
Franchise Cost & Fees
The cost of a retail franchise business in Australia varies from one business to another and can be as low as $50,000 or even reach over $1 million. If and when you are ready to take on a health and beauty franchise, the cost can be at the very least $75,000.
Any franchise in Australia is governed by the Franchising Code of Conduct. In this Code, franchisors are required to show the following documents:
Businesses with existing franchises for sale are well equipped with these documents and can walk would be franchisees throughout the process.
Thinking about buying a health and beauty franchise in Australia? Talk to us at Laser Clinics Australia, a trusted cosmetic business with years of franchising experience under our belt. We are always looking for active partners who want to share their success in the growing aesthetics industry. Our franchisees will operate a state-of-the-art clinic that is completely furnished with industry leading equipment and retail, including IT set up and professional stock.