Australia has a vibrant franchising industry. According to the Franchise Council of Australia (FCA), there are around 73,000 franchise businesses in Australia and these employ about 400,000 people. The FCA’s statistics also indicate that franchise businesses are making a significant contribution to the Aussie economy, turning over about $131 billion in revenue annually. Furthermore, franchises…
Federal Small Business Minister Bruce Billson recently officially launched Australia’s first franchise registry at a franchise industry event that was held in Melbourne. The Franchise Registry™ is aimed at promoting greater transparency in the sector which is worth a whopping $131 billion and boasts over 1,100 franchise systems and 70,000 franchised businesses spread out all…
All in all, as an entrepreneur, you will know in your heart if your business will work as a franchise, but that’s only half the story. Ideally, you’re going to need several years of audit-able accounts to prove the system works.
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