Despite the Global Financial Crisis, which had a subsequent economic downturn in Australia in the years between 2008 and 2010, the interest in franchise enterprises shows a rapid increase. With sales turnover estimated at $131 billion, the Australian franchise sector reflects an increase of nearly 4 percent during the past three years immersing more and more entrepreneurs in the idea of taking part of a growing business. In comparison with the statistics from 1998, when franchise systems were approximately 693, today, more than 1180 companies proudly represent the franchising sector of the country, giving employment to more than 400,000 people.
Franchising: The Tip of The Iceberg ( Facts and Statistics )
Buying a Franchise or Not? Facts and Statistics
According to the 2012 Australian franchise report of the Griffith University, after an extensive process of personally contacting and ascertaining the status of the organizations in the country, researches confirm that 1137 business format franchisors currently operate, 92 percent of which originate in Australia. Until the outset of the global financial crisis, the franchising sector indicated a steady growth. Regardless of the economic deterioration in the Southern Hemisphere, which resulted in a short decrease in the growth of franchise systems in the time between 2010 and 2012, franchise ventures turned out to be a profitable investment.
Research on The Development of The Franchise Sector in Australia
Providing a supportive environment which encourages entrepreneurial activities and innovative thinking, franchising became a turning stone in the financial progress of Australians. Today, embarking in franchising opportunities rules out to be a winning strategy for franchisees from all around the continent. Being a top priority in the franchising sector, the service industry provides a steady start for business entrepreneurs interested in investing in a cleaning franchise or other type of supply chain business.
The Prosperity of Franchise Business Ownership
The enduring recovery of the franchising sector lead to the development of retail and support service industries as leading in the area of Melbourne, Sydney, Brisbane and the large cities. With over 90 percent profitability of franchisees in the country, buying a franchise becomes more alluring to opportunists with each year. Offering high availability of prospective and strong presence on a market with inexhaustible capacity, commercial cleaning franchises represent a vast number of the newly-established businesses in the Australia. According to franchisees working as part of the Fantastic Services Group in Australia, buying a cleaning franchise has been a turning point in their prosperity as business owners. With rapid increase in the individual franchise activity over the past 12 months, the franchising sector grows to be a significant part of the economy of Australia.