Being your own boss, taking control, creating the ideal lifestyle, and doing something you’re passionate about. These are just some of the reasons people would like to own their own business, says Ben Johnston, Head of SEEK Business.
“We’ve seen a notable increase in younger Australians visiting seekbusiness.com.au to research franchise and small business opportunities, 49 per cent of the visits to our site are from those aged under 40 and 20 per cent are under the age of 30,” said Johnston.
“Owning a business is no longer reserved for older workers who after twenty years as an employee are now ready for a career change – there is a growing trend of younger people becoming small business owners,” he added.
Over the past three years, business buyers via SEEK Business have increased by 25 per cent and enquiries to business sellers is up 70 per cent. This trend indicates that people are really considering being their own boss, and business/franchise ownership is growing as a career alternative for people in Australia.
“Throughout Australia there are approximately 79,000 franchises that employ 460,000 people,” Johnston commented.
To celebrate the franchise industry, for the second consecutive year, SEEK Business have again partnered with research agency 10 THOUSAND FEET, to present the Topfranchise Awards.
The awards, as voted on by current franchisees, recognise the effort and achievements of excellent franchisors. They also help potential franchise buyers identify and connect with leading franchisors.
“The Top Franchise Awards celebrate an industry that is growing. Franchising offers a way for people of all ages to manage their schedule and follow their passion,” Johnson explained.
“It’s a highly respected business model, and it can be a lucrative option for anyone wanting to transition from being an employee to being their own boss. Franchisees have the backing of a proven formula and structures that, if followed, can increase the odds of success,” Johnston continued.
Franchising can be a ‘happy medium’ between the reliability of full time employment and the autonomy of building your own business from scratch.
“While independent small business owners get to call all the shots when it comes to decisions like selecting their products, developing a marketing plan, and choosing their location, this freedom can come at a cost,” explained Johnston.
“With franchising, the franchisor has already developed a successful business model, and can help owners avoid the mistakes many new business owners face. You might not have the same creative flexibility as a small business owner, but for many people it’s a worthwhile trade-off,” he added.
The majority of franchises offer thorough training programs and a built-in business network to support their franchisees, making it an attractive business/career option.
“Being able to tap into the knowledge of other franchisees can be invaluable as you set out on your journey. After all, your success is also the success of the franchise, so you’re surrounded by a support system from the moment you start,” revealed Johnston.
With a range of different models, there are franchise opportunities that accommodate just about everyone’s needs!