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Getting Financial and Legal Advice on Opening a Franchise

11 April 2012

There are quite a few considerations to address in the early stages of the franchising process – everything from what kind of franchise to buy into to how it will impact your career and lifestyle. However, perhaps the biggest of them all is the financial and legal aspects of franchising. These can initially seem a little daunting, particularly if you are new to running your own business.

It is for these very reasons that a visit to the Franchising and Business Opportunities Expo is essential. In addition to bringing together a broad range of franchise and business opportunities to potential franchisees, the expo offers invaluable access to informative resources. Among them is the Franchising Advice Centre, where lawyers and bankers who specialise in franchising will be available for free one-on-one consultations with expo visitors.

“Attendees can book these appointments upon arrival at any of the expos, meaning you can walk through your shortlist of business opportunities with the experts and get the right advice to help you take the next step with confidence,” explains Gaye Murray, group exhibition director for the Franchising and Business Opportunities Expo.

Bankers from the NAB Franchise Bankers division will be on-hand to provide advice to potential franchisees on their borrowing capacity and return on investment prospects.

“Due diligence checks are vital and you should speak with existing franchisees in the business and get a feel for their experience as well as sitting down with the franchisor and discussing your goals and expectations,” says Darryn McAuliffe, national manager of franchise banking for NAB.

“You also need to be sure you are entering franchising for the right reasons and that you fully understand the lifestyle and income implications of your decision. Finally you need to ensure you have adequate borrowing capacity including working capital and you should seek financial advice as soon as possible to determine what franchise options are within your price range.”

Learn more about the advisory services and information seminars being held and don’t forget to register for free tickets to attend the 2012 Franchising and Business Opportunities Expo in your capital city.