Franchising in Australia has become one of the most recognised strategies of growing a business in 2017.
The franchise sector is valued at an estimated $146 billion, up from $144 billion in Australia’s previous survey conducted in 2014. The number of Australians employed in a franchise format business has continued to rise steadily and has resulted in almost 500,000 people being employed in a franchise model across Australia.
According to a Franchising Australia 2016 survey, despite relatively slow economic growth, Australia’s franchising sector has continued to perform strongly. The total sales turnover for the sector has risen and franchisors are continuing to predict growth in franchise numbers over the next year.
For many growing businesses, a franchise model may prove to be an extremely lucrative growth strategy.
“A franchise model is one of the most effective growth strategies available to small to medium sized businesses that are looking to expand quickly, yet steadily,” said Nasser Abdu, executive director of Baybridge Lawyers and Advisors.
“The best franchise systems are the ones that engage experienced franchise consultants, who, along with business owners, are able to strategically plan and build business models that ultimately lead to sustained growth, whilst eliminating unnecessary risk.”
One particular industry that has continued to dominate the Australian franchising sector is the food retail industry, in particular Quick Service Retail (QSR) and Fast Casual. These two growing sectors now represent a total of 26 per cent of all brands operating in a franchise model across Australia. Placing second on the list at a total of 19 per cent is the accommodation and “other” retail sector, with 15 per cent held by administration and support services.
The franchise industry as a whole is expected to continue growing into 2018 and beyond. If you think a franchising model is suitable for your business, consult with the franchising professionals today.
Baybridge Lawyers & Advisors, a Sydney-based franchise consultancy firm, are the people behind some of Australia’s best brands. The firm houses a team of experienced franchise consultants and advisors who are able to help grow your business through proven market know-how, franchise expertise and advice.
Baybridge Lawyers & Advisors pride themselves on providing clients with the highest level of personalised attention that you would expect from a boutique firm. They have provided franchise consultancy and legal services for Top Juice, Total Tools, Platinum Electricians, Zeus, Soul Origin, Oliver’s Real Food and a multitude of other successful franchise brands.
Find out more here: http://www.baybridge.com.au.