How To Reduce Risk When Opening A Business
Starting out a new business can be risky, well, risky business. You are not only investing your money, but also your time and future. A business with reduced risk, and in turn increased benefits, is therefore a no brainer. Many Australians agree. There are currently around 79,000 franchise units operating in Australia, a number that is expected to continue to increase as franchises take off throughout the country.
Being part of a successful franchise can reduce the risk factor when starting out your new business. However, it is important to bear in mind that just as opening a business on your own can be risky, your choice of franchise can be just as tricky. For advice on how to ensure that you are choosing a genuine franchisor, read our guide here.
A reputable franchise, such as Muffin Break®, will already have established business models in place that have evolved over the years to best accommodate its franchisees. The risks associated with trying and testing your own business models, therefore, are eliminated allowing you to confidently get your business up and running. In addition to an established business model, Muffin Break has also invested over 25 years of time and money into growing their brand. The award-winning café brand is now recognised throughout Australia as a leading café bakery, allowing you to leverage off its reputation, achievements and accolades.
When starting out any new business you are vulnerable to making crucial mistakes, particularly if your business is in an industry unfamiliar to you. By joining a franchise like Muffin Break, you are supported throughout your journey as a café owner, with industry experts on hand to guide and advise you through all aspects of your business. What’s more is that you are provided with accredited training covering all areas required to run a successful café business, meaning you don’t have to be an expert to be a success!