Each year The Franchise Council of Australia and Griffiths University survey the franchise market.
The 2016 survey reports that:
- There are 1,120 business format franchise systems operating in Australia
- There are an estimated 79,000 franchised units in Australia
- Franchising employs over 470,000 people in Australia
The Franchise Council of Australia Limited (FCA) is the peak body for the $146 billion franchise sector in Australia, representing franchisees, franchisors and service providers to the sector. Membership of the Franchise Council of Australia is voluntary, and is open to any organisation or individual involved in the franchise sector, including franchisees, franchisors, lawyers, accountants, banks, consultants, academics, and publishers.
The Franchise Council of Australia (FCA) is the only voluntary body for franchising in Australia. Representing franchisors, franchisees and service providers to the franchise sector, its remit is to develop and continuously improve the standards of good practice in franchising and to accredit franchisors who meet these standards.
Members of the FCA
TaxAssist Accountants ia a member of the FCA and we fully endorse the FCA’s code of ethics and operate in accordance with them. For further information please visit their website: www.franchise.org.au
An often used cliché in franchising states that 'you are in business for yourself but not by yourself'. Like many such clichés it rings true. The prospect of going self-employed can seem a daunting one. Many people that join us have strong technical skills but need support in areas such as client acquisition.
With a franchise you will be expected to put in the same level of effort, time and enthusiasm you would if going it alone, however, you will be doing so with the added benefits of proven training, systems and support provided by the franchisor. You will also enjoy the benefits of being part of a well-established network of accountants who have a community spirit of sharing and supporting one another.
A franchisor should provide you with:
- A proven business model with a strong brand
- Comprehensive training on all aspects of the business
- Business development support and marketing materials
- Technical support
- Regular field visits
- Investment in research and development
- The opportunity to build a sustainable business with a proven exit strategy
Franchising is a proven, tried and tested route into self-employment and the banks are supportive in providing funding as there is a lower rate of failure than going into business alone.