Choosing a business franchise

Helpful resource links and tips on choosing a franchise business that is right for you.

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Research franchise opportunities
Find out all you can about franchising business opportunities in New Zealand using
> Franchise Association of New Zealand
> Franchise Business
> Franchise New Zealand
Choose an industry
Choose an industry that interests you and that you'd enjoy working in. Ask yourself these questions about potential franchise opportunities
is there a real need for this product or service?  
how stable is that need?  
how big is the market and is it growing?  
how much competition is there?  
how good is that competition and how long have they been in business?  
is the franchise part of an international operation?  
are there several franchises in the industry to choose from?  
what are the points of difference between each competitive franchise?  
Contact the franchisors
Take a look at each franchisor’s website. Contact each franchisor for
a franchise information pack  
the company's history  
details on franchise products, services—and the market for these  
the role of the franchisor—what will they do to help?  
franchise costs—both initial and ongoing  
> email our Franchise Team for a franchise research checklist
Meet a few franchisors
Get as much information as you can to make an informed decision about the franchise business. Think about whether
you like the franchisors  
you'd fit with the company  
Arrange several meetings with the franchisor. Look to gather more detail than you did at the previous meeting.
Buying a franchise is a complex and multi-leveled decision. So don't be afraid to keep asking questions.
> email our Franchise Team for a list of questions to ask the franchisor
Double check the franchise info you've been given
contact the Companies Office to confirm the company's details, shareholders and directors  
get a list of credit references and check carefully  
run a credit search through a credit agency  
> visit the Companies Office website
Obtain references from existing franchisees.
Ask questions such as
is the franchise business what they expected?  
what do they think of the business?  
what do their customers think of the franchise business?  
Bring in the franchise professionals
Involve a good franchise accountant, lawyer and bank for independent and professional franchise advice.
Meet with your franchise lawyer to
check if there are any legal actions pending against the company  
review your franchise agreement prior to signing  
Contact a franchise accountant for help with
preparing a business plan  
financial projections  
Use a bank that
employs franchise business specialists  
offers franchising finance options  
> franchise banking packages
> contact a Westpac franchise business specialist
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