New Australian research into the motivating factors of franchise buyers shows the food industry receives the most amount of interest, with 21 percent of prospective franchisees wanting to own a food franchise.
Conversely, the biggest decline in interest was for coffee based franchises, with only seven percent of respondents wanting to buy compared to 11 percent prior to investigation.
The popularity of Food Franchises came as no surprise to 10 THOUSAND FEET whose clients include the likes of Hungry Jacks, Red Rooster, and Donut King.
The research also found McDonalds to be the number one food system, with 40 percent of prospective franchisees viewing it as the best fast food system, Subway came in second with 19 percent and Boost Juice third with 10 percent.
The Franchise Council of Australia (FCA) has thrown its support behind the Report believing it contains information every franchisor should have at their fingertips to extend their business network and target potential franchisees well.
According to FCA CEO Richard Evans “There is no doubt the franchising sector is creating wealth for the Australian economy. The franchising sector generates sales equivalent to 14 percent of GDP and food and coffee make up a significant part of that”
“The intelligence uncovered in the 2007 Franchisee Recruitment Report is vital for every franchisor looking for the most effective and targeted way to communicate to potential franchisees. In the current economy, recruiting quality franchisees is very competitive and franchisors need to have messages that cut through the clutter. This Report arms them with the latest facts and provide insights into key motivating factors,” Evans said.
Market intelligence firm and survey author 10 THOUSAND FEET surveyed over 570 prospective franchisees for the 2007 Franchisee Recruitment Report in March 2007 during the Sydney Franchising Exhibition.
According to 10 THOUSAND FEET’s Managing Director Ian Krawitz, the Report looks at a wide range of issues related to franchisee recruitment in the current Australian marketplace, uncovering vital nuances that every franchisor needs to understand to make the most of their marketing push in a highly competitive marketplace.
“Selling franchises is an important part of the ongoing development of any franchise business. What the 2007 Franchisee Recruitment Report has uncovered is there are different motivating factors for different people looking to buy a franchise,” he said
The Report also has data on the demographics of prospective franchisees, how many hours per week they are willing to work, how much they are willing to spend on a franchise business.
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