How to... | Due Diligence
of money in a short space of time, regardless of your effort or experience in the industry? Is the franchisor reluctant to provide you with the contact details of other franchisees?
that the franchise itself is a scam, or is otherwise not something to get involved with.
Professional advice and assistance Performing the research outlined above is critical if you wish to make a truly informed decision about buying a franchise. You don’t need to stop there, though - consider talking to a lawyer, accountant or business adviser to help you process the information you’ve gathered and give you a clear idea of any potential risks. F
If you find yourself identifying with unhappy ex-franchisees, or unsatisfied current franchisees, this may not be the right franchise for you
Dr Michael Schaper is deputy chairman of the ACCC. The ACCC has several franchising publications containing useful information for prospective franchisees, including a Franchisee Does the franchisor ask you to pay an amount of Manual and a DVD about the code. These are available at money upfront, before providing you with informawww.accc.gov.au/franchising or by calling the ACCC’s Small tion about the franchise? Business Helpline on 1300 302 021. The ACCC in conjuncIs the franchisor engaging in high pressure tion with Griffith University offers a free, online training sales tactics, pushing you to decide quickly and course for potential franchisees. Existing franchisees can also suggesting if you wait you will “miss out on an learn more about their rights and responsibilities under the amazing opportunity”? Competition and Consumer Act 2010 by accessing a free Has the franchisor sold this particular franchise online education program for small businesses, funded by the site numerous times in the past? further information and to access these courses, AD_ F RGJ GJ AN_ 1 3 . p d f Pa ge 1 4 / 1 2 / 1 2 , 4 :ACCC. 0 4 For PM Any of these behaviours may be an indication please visit www.ccaeducationprograms.org
Businessman + Builder = GJ Gardner Homes Franchise
Join Australia’s number one franchise builder*
own a You Don’t Need To Be A Builder to ld partner cou You e. chis Fran es GJ Gardner Hom w one. with a registered builder, if you kno systems allow you to Our proven building and business ess partner works busin your t whils ess work on the busin on the building. for you If you want to: A GJ Gardner Homes Franchise is ideal • Use your business experience
• Create an asset worth selling • Work smarter, not harder life easier • Work with systems that make your built over • Work with an organisation that has ing 20,000 homes worldwide and grow
*Source: HIA Housing100 Report 2011-12
25 YEARS STRONG 20,000 + Homes Worldwide
NSW & ACT I Jarrod Blamey I SA & WA I Dean Lindstrom I QLD & NT I Murray Kahler I VIC & TAS I Ross Morley I
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0403 664 480 0408 338 641 0418 878 114 0416 234 3233
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30/11/12 5:51 PM
Published on May 24, 2013
What should you look for in a franchise? Find out nine key elements to consider before you purchase in the latest issue of Franchising magaz...