Franchise and Small Business Survival eClass
Recent Centre research “Survival of the Fittest: the performance of franchised versus independent small business during economic uncertainty and recovery”* discovered that franchises and small businesses overlooked critical issues in their business management that may lead to business failure.
Contractual Understanding, Partnerships, Expectations, and Debt Levels were identified as being the most critical areas, yet it was revealed that most failed business owners were lacking in knowledge in one (or more) of these areas.
Knowing what these issues are before buying a franchise or small business is the best insurance you can give your business. Now, you can watch the four free animated eClasses below to improve your business management knowledge.
Franchise and Small Business Survival eClass Overviews
eClass 1: Contractual Understanding
Duration: 8 minutes 38 seconds
- What a contract is, and what prospective business owners should look out for
- How to understand two of the most important agreements in business and franchising: Franchise Agreements and Lease Agreements
eClass 2: Expectations
Duration: 9 minutes 35 seconds
- Expectations of business owners when buying their business or franchise
- Expectations to be managed in a business or franchise
- Expectations of your customers
- Mutual expectations between franchisee and franchisor
eClass 3: Debt
Duration: 8 minutes 5 seconds
- What debt is
- What debt does for a business
- How much debt is enough
- Sourcing debt
eClass 4: Partnerships
Duration: 7 minutes 46 seconds
- Why should prospective business owners consider a partnership?
- How to keep the relationship healthy
- Issues to address when entering a partnership
- The risks that come with partnership
The next step: If our eClasses have struck a chord and you’d like to learn more about getting established in franchising or small business, make sure you check out our Franchise Business Management Essentials online program.
*The 'Survival of the Fittest Research' funded by the Australian Research Council, The Treasury, and Franchise Council of Australia.