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Part 1: Think About Yourself and Your Goals

Why do you want to own a business?

For lots of people, the starting point is ʻbeing your own bossʼ, but it really helps to develop the idea a bit more than this so you have a vision of what success means.

What is your vision of what owning a business will do for you and how it will make you feel?  After you have created your vision, you can start to consider some specific goals that come from this, and turn your ambition into action.

What is your financial situation?

The cost of starting a business varies, so itʼs a good idea to take a look at your finances as you start to think about owning a business.

Some things to consider are:

  • what assets (your home, investments, cash, etc.);
  • what liabilities (mortgage, loans and other debts) you have now;
  • whether you are thinking about a business as a primary or secondary source of income; and
  • what other sources of finance or security might be available.

What sort of lifestyle do you have and how might this affect your business choices?

Lifestyle is important for all of us and what we do every day is a big part of that.  Owning a business can impact your lifestyle and routines, so it can be a good idea to consider the impact of owning a business on your daily and family life and finances.

What do you enjoy?  Can you find a business that relates to something you enjoy doing?

‘Passion’ is one of the most popular words among successful franchise owners.  Your success will be enhanced then youʼre doing something you enjoy and are in a business that youʼre enthusiastic about.

What are the things that you enjoy doing and which might influence your choice of business?

Next steps

Perhaps youʼre now ready to consider franchise options in more detail - if so, you can take a look at Part 2 and start to consider the specific questions that will help you learn more about franchise options.

If not, you might simply want to make general inquiries and learn more about business ownership and franchising.

Whatever stage you are at, we look forward to seeing you at the Expo and helping you learn more about the great opportunities in franchising – in a practical and realistic way.

Tips for the Expo

Hereʼs a suggestion for how to plan your visit so you get the most from the expo. A visit that involves these steps will take 3-4 hours.

  • Start off by visiting the Franchise Council of Australia stand for general information about franchising.
  • Attend the daily ‘Franchising - Is It For You?’ seminar and then join in an open panel discussion with franchisees.
  • Talk with a broad range of exhibitors and gain insights into the range of franchise and business opportunities.
  • Hear from successful franchisees at the Seminars.
  • Visit the Franchising Magazine stand for more background information on franchising.
  • Explore a list of exhibitors at the upcoming Expos.