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So when considering how to grow a business the majority of SME business owners face 2 key challenges. The first is time and then second is money.
With very few exceptions small and medium sized business owners work IN their business each and every day. So to ask them to take time away from their business to work ON growing their business presents a challenge in itself. If they are fortunate enough to have well trained staff who they can rely on to competently operate their business while their focus is channeled elsewhere then they should consider themselves fortunate.
The next challenge is almost universal amongst small and medium sized business owners and that is the issue of funding. Do they have funds or access to funds to grow their business. For most business owners the answer is no, which is why franchising is such an attractive opportunity. But before looking at franchising in more detail lets first look at the process of growing a business using a traditional approach.
The purpose of this site is to provide an overview of what franchising is, what franchising involves how to franchise a business and whether you and your business are suited to franchising.
The franchising information here is a general guide only. If you are contemplating franchising your business go to www.thefranchiseinstitute.com.au.