Exporting your business or franchise systemMore and more New Zealand franchisors and non-franchised business are investigating exporting their businesses in a franchised or licensed format into large attractive overseas markets.
Overseas markets are attractive to local businesses, as they are often perceived to represent huge, untapped potential - many times New Zealand’s size. For example, Australia has more than five times New Zealand’s population.
Britain is similar in size to New Zealand but exceeds its population by a multiple of 15. The United States of America is much larger again – and each of the aforementioned countries have per capita income much greater than New Zealand.
Harnessing the potential of these and other overseas markets is an exciting prospect. Yet the prospect also presents a complex set of problems, challenges and hurdles (particularly financial) that require addressing in a methodical and structured way.
Examples of critical high-level considerations when exporting your business for franchise off-shore include:
- Assessing your operation’s readiness for export
- Researching and ranking target countries for export
- Determining the feasibility of international entry
- Determining an appropriate international entry plan
- Determining the appropriate franchised organizational form and commercial structure
There are obviously many additional considerations (with each containing numerous sub-considerations). Selling a franchise?
Win Robinson - Franchize Consultants (NZ) Ltd
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