Thursday, 22 December 2016

Maurice Antoine Roussety, How to Turn Your Company into a Franchise

When it comes to franchising a business, no one is more adept at understanding the intricacies of this process than Dr. Maurice Roussety. As an Executive Consultant DST Advisory and Lecturer in Small Business, Franchising, Entrepreneurship, and Marketing at Griffith University in Queensland, Australia, Dr. Roussety is an expert in this field. Over the course of his career, he has worked with many of the top companies in Australia, including leading brands like Queensland Transport, IAG, Westpac, Australia Post, Coles Myer, and many more. As a professional consultant, Dr. Roussety wants fellow business owners to understand the benefits they can reap by choosing to franchise their companies. So, when Dr Roussety speaks how to turn your company into a franchise it is probably a good idea to pay heed to his comments.

“One major reason business owners should consider franchising is because it lowers costs. Unlike employees, franchisees make an initial payment in return for becoming a part of the business, and then continue to pay a percentage of their revenue to you, throughout the duration of their Franchise Agreement. Subsequently, the costs of setting up the franchise, training staff, and launching the business are all covered by the franchisee instead of the parent operation. Franchisees are also responsible for handling day-to-day business operations for their own unit, which makes management much simpler overall.

As the document ' Maurice Antoine Roussety, Moving Franchises and Brands Into The New Age' elaborates, Dr. Roussety is passionate about organizational best practice and has a proven track record as an analyst, strategist, change agent, and franchising expert. “In Australia, franchising is especially important to the economy, as it generates revenues in excess of $144 billion and directly employs more than 460,000 Australians through over a thousand franchise systems. I have developed a Franchise Risk Imputation Model (FRIM), which establishes a framework based on two cornerstones: risk-free rate and total risk as measured by the sum of market specific and company specific risks. He has also written a PhD thesis titled “An Integrated Economic Model for the Evaluation of Franchise Systems – A Synthesis of Agency and Finance Theories.”

“In addition to cost effectiveness and simpler management, franchise businesses also allow for fast expansion and better market penetration. Since they are generally self-financed, they can be expanded more quickly than company-run networks. All in all, franchising is about replicating an already successful business model, which means that expansion is mostly reliant on investment. Franchisees are also usually already established as part of the local community, either on a persona level or because of its past business activities. This kind of goodwill gives franchisees an advantage when it comes to gaining new business at the local level.”

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