Considering a franchise?

According to the 2021 Franchising New Zealand survey conducted by Massey University Business School, there are around 590 franchise brands represented in New Zealand.

This makes Aotearoa one of the most franchised in the world.  These franchises cover a diverse range of products and services including, but not limited to icecream, companion driving services, gardening, home maintenance, health products, accounting and legal services and of course, a wide range of fast food brands.  You can read a summary of the survey here.

The research also shows that franchised businesses have continued to grow despite the challenges brought about by Covid.

The Franchising New Zealand 2021 report indicates the annual turnover of business format franchises grew by $9.2 billion in the past four years to $36.8b, from $27.6b in 2017, excluding sales from motor vehicle and fuel retail.

If you are starting out in business what are the benefits of a franchise over starting your own business from scratch?

For a start, becoming a franchisee gives your business instant brand recognition as well as support from the parent company thereby making starting up a business a less risky option.

For a first hand look at what it’s like to be a new franchise holder I talked to Nick and Mel who, in 2020,  ventured into the world of business ownership through franchising when they opened two Wellington outlets for the iconic American icecream brand, Ben and Jerry’s.

As Nick says, buying into the franchise was

“… the right thing for us… for us it was perfect.  It took the guesswork out of the equation …”

as they were starting out on the business ownership journey.  Franchising has the added benefit of being able to learn from those more experienced, who share their knowledge and mentor new owners.

“If we can learn from someone else who’s maybe made mistakes once before, we can avoid making them”.

Watch our video to learn more about Nick and Mel’s experiences of starting their business journey by becoming franchisees for a well loved brand during a global pandemic.

If you think franchising might be the right way for you to start a business, both Franchise New Zealand and the Franchise Association of New Zealand offer advice and free training to help you decide on all the aspects that you need to know before signing an agreement.

Free copies of the publication Franchise New Zealand can be read online or requested from the website.  Print copies may be found on the display stand at your library.  If not you can request them.

Other library material that could assist someone considering taking on a franchise include:

Australian and New Zealand business franchise guide.
“The Australia & New Zealand Business Franchise Guide is your introduction and manual to the world of franchising. Each chapter in the book is authored by an industry expert. This comprehensive book will lead you through all the steps necessary to fulfil your dreams of owning your own business. The Australian & New Zealand Business Franchise Guide can be utilised as a hand reference on specific topics, or can be read straight through to give a sound knowledge base regarding what is involved in buying, owning and running a franchise business. There is a lot to consider before becoming a franchisee, so inside you will find helpful articles on all things franchising, written by distinguished specialists within the franchising sector, including articles from the Franchise Council of Australia (FCA), the Australian Taxation Office (ATO), the Australian Competition and Consumer Commission (ACCC) plus many more. Whether you are considering buying a franchise or have recently established a franchise system, the team from Business Franchise Guide wish you the best of luck and success with your franchising journey.” (Catalogue)

New Zealand’s top franchise leaders secrets revealed / Burdon, Peter
“International author, branding expert and media trainer Pete Burdon is joined by New Zealand’s top franchise leaders to provide you with the inside secrets to financial freedom in franchising.”–Back cover.” (Catalogue)

If you want to learn more about Ben and Jerry’s and becoming an iconic brand then this audiobook makes a good listen :

100 great businesses and the minds behind them / Ross, Emily
“This fully revised and updated edition of 100 Great Businesses and the Minds Behind Them provides an up-to-the-minute look at a diverse collection of people, their businesses and how they make their enterprises work. From risk-loving entrepreneurs Richard Branson and the boys at Google to self-starters like IKEA’s Ingvar Kamprad; from one-person brands like Oprah to billionaire investment oracle Warren Buffett, this book delves into the hearts, minds and business plans of some of the world’s most successful businesspeople. Profiles include creative geniuses such as food guru Jamie Oliver, vacuum-cleaner mogul James Dyson and accidental ice-cream entrepreneurs Ben & Jerry. This is an accessible collection of stories from Australia and around the world that offers inspiration, ideas and lessons on the principles of successful businesses. 100 Great Businesses and the Minds Behind Them looks at what makes entrepreneurs tick, what drives them, and highlights the pivotal moments in the lives of their businesses. It is a book with lasting lessons on the art of making your business a success.” (Catalogue)

If you need more information please contact the Prosearch team at the library.  We can help you find information across a range of perspectives and resources.  All enquiries are treated in confidence.