8 Key Considerations When Small Business Budgeting
All small businesses should track where their money comes and goes. Budgeting, often a painful and tedious exercise, is crucial to ensuring your business can make ends meet. We set out below some key points small businesses should remember when organising their finances. 1. Understand Your Budget’s Purpose Ultimately, a budget is more of an […]
How To Successfully Exit Your Franchise
When you’re ready to sell or exit from your franchise, there are several things to consider which can contribute to the success of your efforts. First, there are exit planning strategies you should consider: 1. An outright sale, when your franchise goes on the market and a purchaser buys it from you, lock, stock, and […]
The Best Option to Sell a Franchise Business
More than 10,000 franchise businesses change hands every year in Australia, approximately 15% of the total franchises in the country. One of the primary questions that comes up in these situations is how to go about the sale. Should the franchisee ask the franchisor for help with the sale or should they sell it on […]
The 9 Local Area Marketing Strategies You Need to Know
In franchising, there are generally two types of advertising and marketing strategies. The first, often referred to as ‘global’ advertising and marketing, is usually implemented by the Franchisor and is funded by the advertising and marketing levy paid by franchisees. Some examples include yellow pages, newspaper advertising, television, radio, point of sale (P.O.S.) posters, counter stands, […]
Building the right team to expertly sell your franchise
There are times when a franchisee of a business needs to move on for one reason or another. Sometimes this is due to the franchisee being unsuccessful in running the business, and other times it’s because they have been very successful and accrued profitable value in the business. More than 10,000 franchise businesses change hands […]
Who’d A Thunk? The New Normal of Business
Is anyone else fed up with hearing about how bad things are? Let’s get on with it and start focusing on what we can do to get through tough times and thrive. Some entrepreneurs have disrupted the business world and created a new normal. Read on to learn about different innovational ways to create, or […]
Selling Your Business Off-Market
There are traditionally a lot of off-market sales for large transactions in Australia, like large real estate, commercial property, and business sales, but this is also starting to happen more with the sale of small and medium businesses as well. An off-market sale is when the business is sold somewhat “under the radar”, meaning it […]
What Every New Employer Should Know About the Hiring Process
Becoming a new employer can be both an exciting and nerve-wracking experience. Many new employers experience a learning curve far greater than they anticipated, so it is imperative to educate and prepare yourself as much as possible as you embark on your new leadership position. Before You Hire Anyone You can master the interview and […]
How to Sell Your Business to an Employee
When you decide to sell your business, the main obstacle that stalls that process is usually finding the right buyer. For lots of business owners, the answer to this problem is often sitting in morning meetings already – an employee that is interested in the business. Is selling to an employee a good idea? There […]
Sell Your Unique Business and Retire Comfortably
Lots of people want to own their own business, and the majority of them would prefer to buy an existing business so they don’t have to build it from the ground up. The problem is that many of these potential business buyers don’t have any idea about what kind of business to buy, so many […]
