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Franchise lessons from the Dragon’s Den |
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I recently watched a repeat of the entrepreneur reality television show Dragon’s Den, in which existing or wannabe business operators pitch to wealthy and experienced investors for start-up or expansion capital. Aside from the shock entertainment value of seeing the investors dismember the ill-prepared and ill-conceived pitches of some budding entrepreneurs, much can be learned from this show by both current and aspiring franchisees and franchisors alike. Here are five franchise lessons from the show: |
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Understanding the three most common types of franchise royalties |
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When deciding to franchise a business, new franchisors often have little understanding of the different types of royalty options available to them. Franchisors which form part of their network’s supply chain may even have the freedom to not charge royalties at all, and instead derive their income exclusively from mark-ups on goods or services supplied to franchisees. |
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Introduction to Franchising seminars |
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The basics every potential & start-up franchisor & franchisee should know.
(And essential training for new franchisor staff who have no prior franchising experience. 1-day workshop 9am-5pm) Brisbane - Sydney - Melbourne - Perth - Adelaide (See below for event dates) Why attend this course?
Perhaps you already have a business and would like to grow it by franchising?
Or are you an established franchisor with new staff who need some franchise training in order to be job ready?
Are you looking to buy a franchise and need to build your knowledge to make a well-informed investment decision? |
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