What makes a great franchise in Australia to invest in?
What are the best franchises in Australia to invest in? The best franchise concepts combine profitability with ease of operation, but the best option also depends on the goals and values of the investor.
Starting a business can be expensive, and most people don’t have a million dollars to invest to get their business up and running. The good news is that you don’t need that kind of money to start a profitable business. There are plenty of great franchises you can buy for $25,000 or less. Franchises come from all sorts of industries — everything from a restaurant to a health centre and tax services — so there are plenty of options that can fit your interests, strengths and budget.
Many people have dreams of becoming a business owner, but aren’t sure where to begin. If you have an entrepreneurial spirit but don’t necessarily want to start a business from the ground up, looking into low-cost franchises is an opportunity worth considering. It’s one of the easiest ways to break into business ownership fast, giving aspiring entrepreneurs the chance to make their business dreams a reality without the challenges of starting from scratch. The buy-in cost of some franchises can be very expensive, but others are more affordable and therefore more accessible to hopeful franchisees with limited capital available. Some low-cost franchises has an upfront franchise fee of $50,000 or less and a total initial investment of $110,000 or less.
Low-cost franchise opportunities:
Although owning a franchise isn’t for everyone, it does have some advantages over starting a business from scratch. For one thing, a franchise already has an established brand and customer base. The parent company—or franchisor as they’re called more commonly—has already done some of the hard work, such as creating the business concept, designing the logo, and developing marketing materials. Now, you—the franchisee—can jump in and carry out the day-to-day responsibilities of business ownership. As with any business, of course, you need capital to buy a franchise. Every franchise requires some initial money up front and an ongoing investment of dollars and time.
When purchasing a franchise, whether international or just in Australia, there are cost parameters to consider:
Franchise fee – Virtually every franchise opportunity requires the business owner to pay a one-time, upfront franchise fee. Initial investment – Your initial investment covers the materials, labor, and resources you’ll need to launch. The initial investment amount includes the franchise fee.
Ongoing investment – This is the money you’ll need to run the franchise on an ongoing basis.
Personal finances – A few franchises require the owner to have a minimum net worth before they’re eligible to purchase a franchise. Others have liquidity requirements. The franchise fee, initial investment, and personal finance requirements are typically the biggest barriers to entry for most potential franchisees.
When added up, large franchises like McDonald’s come with initial buy-in fees that are more than $1 million. But don’t lose heart, affordable new franchises do exist that span a wide range of industries—fitness, cleaning services, travel services, coffee shops and more. Some low-cost franchise opportunities can even be operated as home-based businesses with no physical location. Before venturing into one of these business opportunities, do your research, review franchise paperwork, and evaluate whether the franchise is expected to have a positive uptrend in revenues and customer demand. Some information on financing and business loans that can help make your dreams of business ownership a reality.
The best franchises to open in 2021 all boast strong profitability, streamlined operations and strong brand names, but not every franchise is right for every franchisee. Massive brands such as McDonald’s will always have large business investors, as all of these franchises have a proven business model and thousands of profitable stores in operation. The best franchise for any individual franchisee will match their skills and interests. The best franchise for you because franchisees need to dedicate lots of time to running a business, a franchisee has the best chance of success when they actually like dealing with the type of business they pick.
Consider Franchise Investment Levels
Additionally, individual franchisees need to consider their investment levels. Franchisees with less money upfront should go for lower-cost franchises while more experienced and better-capitalized franchisees can likely land a big-name brand. In summary, the best franchise to open in 2021 will have a profitable, proven business model with a comfortable investment level and territory availability. However, of course, not every franchise entrepreneur can or should invest only in the behemoth brands, sometimes the best business opportunities come from a business in a different industry or location that you could benefit from.
The Music Lessons Academy franchise combines remarkable financial opportunity with the ability to make a profound and lasting impact on the lives of children (& adults) in your community. Partners trust us, and students love our lessons.
What makes a Music Lessons Academy franchise different?
There are many great reasons to join the Music Lessons Academy franchise network and here are the top four:
1. Fast Track Your Success.
One of the biggest stumbling blocks of going into business is a lack of knowledge and experience about what works and what doesn’t. Sure, you can give something a go and see if it works.
But a much smarter way is to find someone who is already doing well and join their team. This is exactly what Music Lessons Academy offers franchise partners. The chance to be their own boss and operate their own business but secure in the knowledge that there is a team at head office supporting every aspect of the business.
2. Repeat Customers
One of the most expensive costs in a business is acquiring new customers. One of the great benefits of Music Lessons Academy is that our students pay by the term. So, we have money booked into the future
3. Low Overheads
The Music Lesson Academy business model has low fixed overheads as there are no expensive premises to rent and no front office staff to hire. All of this helps to keep costs down and profit margins high.
4. Flexible Work Hours
Owning a Music Lesson Academy franchise means you get to be your own boss and with that comes flexible working hours. The franchise partners role is to mostly administrative as well as some sales and marketing, This can be carried out from a home office meaning its very flexible.
Being in locations all across Australia and venturing into New Zealand, this established Australian owned business in Music Lessons Academy Australia has high quality potential to form and develop into a leading music lesson provider throughout many years to come.
Which Franchise Business is Right for You?
The success of a franchise is down to the franchisees, which is why good franchisors will carefully select those franchisees that they believe would be beneficial to their network. Equally, you as a prospective franchise owner should make sure that you do thorough research and search for advice and are careful when selecting a franchise to make sure that you find the best franchise for you.
In order to do this you should look at:
- What you like doing – there is no point in buying a franchise that you do not enjoy working in, list what you like doing and then keep the list in mind when reading about opportunities and what they entail. If you want to invest for 20 years plus, you would want to invest in something you enjoy.
- What your strengths and weaknesses are – again list these out and use the information when doing your due diligence. E.g. if you are not good at managing then a franchise that employs staff may not be suitable for you. Use your strengths to your advantage when buying a franchise.
- What type of environment or market you want to work in e.g. work alone or in a group, or in retail talking face-to-face with customers or working in an office environment, or doing marketing projects.
- Which industries interest you e.g. food, restaurant, children, pets, recruitment, estate agency, health services etc. Also look at whether you want to try something new, or get into an industry in which you have experience. Remember most franchisors will train you in all aspects of their business and so no experience is necessary.
- How much money you have to invest – what you can afford will help determine the type of franchise you can buy e.g. if you do not have much money then you should rule out by a retail franchise with high demand.
- If you want to start a franchise from scratch or buy into an existing franchise. Also look at whether you wish to buy into an established franchise brand or one that is new.
- Which location or locations would suit you – are you able to travel or would like to work closer to home
Answering these questions will help you to gain a better understand of the franchise that may be right for you. Remember there is no such thing as the best franchise in Australia. Different franchise business opportunities could become the one that’s right for you.