Elements and Performance Criteria
- Identify opportunities for establishing franchise
- Research and identify franchising opportunities
- Determine own interests and skills to assess suitability for identified opportunities
- Determine requirements for establishing a specific franchise
- Research and check viability and business record of franchisor in prospective franchise
- Enter into negotiations with a franchisor to establish a franchise
- Complete business plan
- Access business plan proforma, as appropriate
- Consult franchisor and others in process of developing business planning documents
- Research and determine financing options
- Finalise financial planning for franchise
- Undertake market analysis for franchise opportunity and complete marketing plan
- Research and determine needs for premises in appropriate area
- Compile relevant information into business plan
- Identify and address learning needs
- Determine required skills and knowledge to manage a franchise, and identify gaps for self and others
- Seek assistance to assess and address learning needs and document these in the form of a learning plan
- Determine training required by franchisor of a franchisee
- Undertake learning plan and required training programs
- Finalise agreements
- Prepare for opening of franchise