A Biz Out Of A Box
A franchise might promise a safe entry into business but things can pan out differently. John Kavanagh reports.
A conversation that is taking place around lots of Australian dining tables at the moment goes like this: one of the family’s breadwinners has lost his or her job and is wondering what to do with the redundancy payout. On the list of options are paying off a chunk of the mortgage and other debts, putting money into super, taking a holiday or buying into a franchise and becoming a small-business owner.
As the economy moves through a serious downturn and more people contemplate the prospect of unemployment, the franchise industry is gearing up for a period of growth.
The executive director of the Franchise Council of Australia, Steve Wright, says if the pattern of previous downturns is repeated, a lot of money is going to be invested in franchise licences over the next couple of years.
“Owning a small business is one of those dreams that many people have,” he says. “A redundancy is a time to assess where you are going in your career and if you have a payout, you have the means to invest in a business.”
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