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My Guy
  • Total posts: 47

Hello Heaton,

I am very interested in having an input here as I am currently franchising my business out.

I was told in the early stages it costing $50,000+ to start a franchise.

Depending on your business model and how much time you have it really only takes 5-7 months to start marketing the business for sale.

The information I was fed from ‘experts in the industry’ seemed to assume I had 10’s of thousands of dollars to blow tomorrow morning starting it up when in fact we didn’t.

There are three ways of doing franchises.

1st way is hire a consultant to do everything for you. I heard they start at $60,000 deposit and then the cost goes from there.

2nd way is you research as much as you can, then hire a cheaper consultant to does intermittent checks on your work and move forward slowly.

3rd way is do 90% of the work yourself, take it to someone and get them to finalise the whole thing and go to a random lawyer and find an agreement that suits you and done.

net lawman on Google is great, they have a brilliant franchise agreement for $100

I met with three lawyers in South Aus.

1: Said $22,000+ for an agreement and disclosure doc.
2: Said flat fee of $15,000.00 for the same.
3: Said $4750 and they’ll just modify the net lawman to suit my business.

All I had to do in the end way make work doc with dot points of things I wanted to happen in the business and they put it all in there over the space of a month and done.

Shop around take your time and you’ll get there, don’t be ripped off.

If someone says they want to take X% from your business sit down and work out numbers, do some spread sheets and think about it.

If there is anything else I can advise you on just message me :) Good luck.