advice Tag

Dealing firstly with whether it is possible to franchise your business.

If your business:

  • was only established in recent years,
  • has not been tested over time in a range of economic conditions,
  • is not a respected and recognizable brand in your local area,
  • does not utilize  operational documentation relating to the processes employed in that business,
  • is not strongly supported by employed managers who are fans of the business,
  • does not utilize a patent or other assets that other potential business owners would value and
  • does not produce a healthy profit after factoring in the franchisors anticipated administration and promotions costs

then you are probably not ready to franchise.

When a retailer purchases from a wholesaler or a manufacturer the retailer must ensure that they know the limitations of the goods purchased.  If the goods are faulty then the retailer may be liable to any subsequent buyer.

Whenever a retailer sells goods to a consumer there is a sale agreement and conditions are implied into that agreement.  Consumers may make use of these conditions to successfully claim against a retailer.

The stakes can be high!  If a product is not fit for a purpose it may cause damage and necessitate rectification works the cost of which may go well beyond the cost of the goods supplied.

Lots of people have great ideas but, do not have the time, the focus or the money, to implement or advance those ideas.  In these times, which many business people see as, uncertain times, people are not prepared to take a risk, even if the potential reward is handsome.

There are however ways of reducing the cost and risk associated with the development of  an idea, project or business, while at the same time obtaining access to a bank of  ideas, knowledge and resources, at no upfront cost.  Yes, less cost and a better chance of success!  It is possible!

The implementation of the new Personal Property Securities Register (PPSR) will affect most Business across Australia. Business owners and individuals who take security interests over personal property will need to understand the new system and how it differs from the existing registries. We will run through the some of the terminology and benefits of the new Register as well as provide some helpful information about ensuring your security interests are protected. In the same way that you can lose your interest in a house if you do not register that interest on the title. You can also lose your interest in any personal property in which you have taken an interest if it is not registered. If you operate a business where you retain title to goods until you receive payment then these changes have a particular impact on you.