As the bricks and mortar retail sector continues to struggle with poor sales and falling profits, there’s growing concern about the health of the Australian franchising sector.
As consumer and business confidence remains shaky and shopping centre rents remain high there’s a real danger that we will see more and more franchisors and franchisees being put into administration or liquidation.
With nightly news reports about major retailers struggling or going out of business, it’s inevitable that franchisors and franchisees will also struggle or go out of business. Not surprisingly, we are already seeing franchise systems where growing numbers of existing franchisees are trying to sell their businesses.
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With Australian franchising under threat from the rogue franchisors giving the sector a bad name and destroying the livelihood of hard working franchisees, it’s disappointing that the Federal Government steadfastly refuses to stand up for franchisees.
Sadly, the Federal Government and, in particular, Nick Sherry, the Federal Small Business Minister, are fast becoming isolated in their blatant refusal to stand up for franchisees.
We have seen Tony Piccolo, a prominent Labor backbencher in South Australia, introduce a Private Member’s Bill to impose financial penalties for breaches of the Franchising Code of Conduct.
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Have you or anyone you know owned a franchised business? If not, are you considering buying a franchised business?
More generally, what do you think about franchising as a business model? Well, for many people franchising is seen as a potentially exciting way of doing business.
However, for a growing number of people the shine has well and truly worn off and for these people franchising is a trap for the unsuspecting ; a trap that too many rogue franchisors are setting for prospective and existing franchisees.
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