Franchising And The Art Of Keeping Balls In The Air

The Australian Entrepreneur:

Running a successful franchise is a juggling act. Managing cash-flow, recruiting staff, opening new branches, branding, training – the list of tasks is daunting.

The Australian Entrepreneur approached 4 franchisees to talk about the top business lessons they have learned. They also spoke to one franchisor to get a perspective from headquarters. They are worth listening to.

Mortgage Choice has mushroomed from a garage-based mortgage broker to a chain with more than 400 offices. Sleepy’s has opened the doors to 42 Australian bedding outlets in the past 5 years. The Just Cuts network of hair salons has risen to 150 over the past 17 years. SumoSalad has 25 stores after just 4 years in the fast-food business. And since 2004, Healthy Habits has opened 23 sandwich bars.

There is a common approach at these businesses: they learn from their successes and mistakes and then apply those lessons consistently across all areas.

See how they keep the balls in the air.