The basics every potential franchisee and new franchisor should know. Essential training for all new franchisor staff with no prior experience in franchising, and a useful refresher for experienced franchisors.
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All dates correct as at December 21, 2011
Record low prompts Harvey Norman share purchase
Australian retail icon Gerry Harvey as bought $1 million worth of shares in Harvey Norman after the company’s shares fell to a record low of $1.80 after poor profit forecasts from fellow retailers JB Hi-Fi and Billabong drove down the market earlier this week. However the net tangible asset backing according to a company spokesman is $2.15 per share, or 35c per share higher than its lowest trading point.Read more
WA appoints Small Business Commissioner
The Western Australian government has appointed former Australia Post state manager David Eaton to the newly-created role of Small Business Commissioner. The role will involve supervision of the Small Business Development Commission, which will mediate business disputes. An initial surge of disputes in relation to retail tenancies are already expected by the Commission.Read more
Krispy Kreme partners with 7-11
Iconic doughnut maker Krispy Kreme has partnered with 7-11 to sell its products throughout 7-11’s 600-store network throughout Australia, commencing in January 2012.Read more
Conman Peter Foster released on bail
Serial conman Peter Foster has raised the $125,000 surety required to be released on bail, but will have to live with his mother while he awaits trial for contempt of court proceedings over his involvement in failed diet spray franchise SensaSlim.
Foster was arrested after an application by ACCC investigators for contempt of court over his breach of two previous court orders, and concerns that that he may have been planning to leave the country. The ACCC alleges Foster and SensaSlim falsely claimed authenticity for its diet spray product, and which drew in 70 franchisees who invested $60,000 each for the rights to distribute the product.
Media reports have also indicated that Foster himself posed as a Swiss layer, a company official, and a scientist when selling franchises, and has links to underworld figure Mick Gatto.Read more 1;Read more 2; Read more 3;
RedRoom purchase signals move to kiosk DVD vending
The acquisition of RedRoom DVD’s network of 100 kiosks heralds a move by new owner Franchise Entertainment Group (FEG) toward more kiosk and vending machines as a way of “future proofing” the business.
FEG is the parent company of longstanding video rental brands Blockbuster in Australia, and Video Ezy, and has indicated that the kiosks will complement existing outlets by creating more touchpoints and greater convenience for customers.Read more
Arbib becomes third Small Business Minister in 15 months
The resignation by former Australian Small Business Minister Nick Sherry means that new minister Mark Arbib, a key ally of Prime Minister Julia Gillard, will be the third minister to represent the Small Business portfolio in just 15 months.
Sherry, who resigned the portfolio and will not contest the next election in order to spend more time with his family and other pursuits, was appointed in September 2010 and replaced former minister Craig Emerson in the role. Both Sherry and Emerson were opposed to moves by Western Australia and South Australian state governments to introduce state-based franchise legislation, however Arbib’s position on the issue is yet to be made public. Read more 1;Read more 2;
Storm Financial victims fund documentary, launch class action against bank
The victims of failed investment business Storm Financial, who collectively lost more then $3 billion, have funded a $30,000 documentary to tell their story.
The documentary was shot and edited over six months, and funded by former investors, their families and friends at a cost of $250 each. Meanwhile, law firm Levitt Robinson is preparing class action against the Bank of Queensland.Read more 1;Read more 2
No support for lowering GST threshold: Productivity Commission retail report
The federal government as released the Productivity Commission’s report on the Economic Structure and Performance of the Australian Retail Industry, which has found that lowering the GST threshold for goods bought overseas from the current limit of $1,000 is unlikely to reduce overseas online shopping or deliver a net increase in tax revenues.
However the government has established a retail taskforce, which has since been criticised over its composition, to further examine the issue of lowering the GST threshold for overseas online purchases.Read more 1;Read more 2;Read more 3;Read more 4
Plan your franchising professional development in 2012
The Franchise Advisory Centre has updated its 2012 franchise education calendar, with dates now confirmed for more than 40 events to be held throughout Australia between February and November next year, as well as a Franchise Education Week to be held in New Zealand in March.
The range of seminars and workshops include both half-day and full-day events, and address common franchise issues such as franchise recruitment, site selection, performance management, lease negotiation and others.
Download the 2012 Education Calendar by clicking here.
Thank you to readers and supporters – Best wishes for 2012
The Franchise Advisory Centre, publisher of Franchise News & Events, would like to thank the many clients, supporters, suppliers, readers and friends who have utilized our services, read our news bulletin, attended our seminars and workshops or provided us with valuable feedback during the course of this year.
In lieu of Christmas cards and corporate gifts, we have this year made a donation to The Salvation Army Christmas Appeal, which provides food, care and accommodation for the underprivileged.
We wish all readers a safe and happy Christmas holiday, and a prosperous New Year in 2012.
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