What to Look for in Franchises for Sale, Part 1
Steve Strangward| Franchisee of the Year | Kwik Kopy
Steve Strangward‘s Kwik Kopy Richmond, Victoria won Kwik Kopy’s Franchise Location of the Year 2012. Kwik Kopy is a print and design provider that focuses on the small to medium business market. The franchisor has an extensive network of over 100 centres in Australia, providing a blend of friendly advice, design and print expertise.
Steve has been a franchisee with Kwik Kopy since 2004. To compliment his small business experience, Steve has close on two decades of experience as an engineer. Prior to joining Kwik Kopy Steve was a consultant in information technology for seven years and also spent nine years as a Naval architect in ship building.
In a two part article Steve shares some of his insights regarding his accomplishment as Kwik Kopy’s 2012 Franchisee of the Year and what prospective franchisees should look for in franchises for sale.
A franchisor’s support system plays a major role in determining whether its franchisees will be successful, and the best franchises in Australia support their franchisees in many different ways. When looking for franchises for sale, in addition to searching for financially stable and profitable enterprises, you should look for a franchisor who offers a strong support team in the areas of finance, business process, information technology, and marketing.
Kwik Kopy, for example, offers its franchisees sound business/financial analysis and advice, on the back of extensive performance benchmarking. Kwik Kopy also provides substantial marketing to build brand awareness. The company maintains a focus on developing profitable operations through the delivery of high levels of quality, speed and service. This formula continues to supply me with the resources required to build my business without spending extra time and money outsourcing these services to people who may not be familiar with the printing business. Kwik Kopy’s focus on franchisee support has helped make it one of the best franchises in Australia and helped us win the 2012 Kwik Kopy Franchisee of the Year for our Richmond operation.
Because receiving strong support from my franchisor has been so important to my success, I am convinced that prospective franchisees should consider several features of a franchisor’s support system before committing to any of the thousands of different franchises for sale.
It was a simple equation when I went looking for my first business – the stronger the franchisor support, the less the risk of failure, the greater the likelihood of success.
"Because receiving strong support from my franchisor has been so important to my success, I am convinced that prospective franchisees should consider several features of a franchisor's support system before committing to any of the thousands of different franchises for sale."
Every potential franchisee should ask the following questions of franchisors regarding franchisee support, before buying into a franchise:
- Who will be my personal Business Development Consultant /Area Sales Manager and how many hours on-site support can I expect to receive a month?
- What specific expertise/knowledge does the franchisor have about: my territory, my client base, my sales, my IT systems (to support me technically and to assist me in operating my business), human resources (to guide my staff selection), and marketing (to drive network sales activity)?
- What business/financial planning support can the franchisor provide for my business – Is their success linked to mine? Is the franchisor really concerned about my success?
The best companies offering franchises for sale will be able to provide straightforward, affirmative answers to these questions. It is also imperative to follow up with existing franchisees to enquire about their experiences regarding franchisor assistance in these areas. Remember, it is difficult if not impossible to succeed in a franchise business when franchisor support is not forthcoming.