Trade-based Franchises in NZ
If you have a trade or practical skills, then being self-employed can be a very normal thing to do. But owning your own business is one thing; managing it is another. You become responsible for your own marketing, sales, time management, administration, tax management, debt collection and all sorts of other functions that you might not enjoy – and which will certainly take up time that might be better spent on the tools or with family.
One of the benefits of a trade-based franchise is that you get a whole lot of systems to help you manage your business better, and support to operate those systems and grow your business. If you want to employ people, a franchise can help you through all the legal complexities of hiring and firing, not to mention health & safety compliance. And the buying power of a franchise means you also get better terms and better service from suppliers, and help from fellow franchisees when you have a big project, need to take a break or even just want to chat over a problem.
There’s one other big advantage to being part of a franchise, too. As an independent, your business relies upon your own skills, and when the time comes to move on then it can be hard to sell it for a good price. As part of a franchise, your business will be operating under a known brand that can increase its value to a purchaser by a considerable margin. That can increase the return on your time and investment many times over.
Franchises operate in many trades – home building, electrical and plumbing, commercial construction, renovation, specialist maintenance, equipment hire and purchase, vehicle servicing, building inspection and more. Search opportunities in our Directory by industry, or by investment level.
When you’re looking for a trade-based franchise, it’s important to do more than ask ‘How much does it cost?’ and ‘What experience do I need? Do your research – we recommend putting in an hour of research for every $1000 that you plan to invest. Apart from talking to the franchisor and asking them lots of questions, it’s also a good idea to talk to other franchisees who are already running the same business to get all the information you need before you open your own business.
While there are many good trade-based franchise opportunities for sale, they are all different. Some offer work guarantees or income guarantees, but you need to be clear on what’s really guaranteed. Before making your decision, you should consult a lawyer specialising in franchises. You’ll also want to know how much you can make from a business so consult a financial advisor or accountant experienced in franchising. If you need finance, there are a number of banks which specialise in financing trade-based franchises.
What you need to know
Some useful advice to consider when looking for a Trade-based Franchise
Protect your own interests as you assess any franchise business opportunity. Translated versions of this article are available in Hindi, Traditional Chinese, Simplified Chinese and Korean.
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