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How to spot a winning franchise

Owning a franchise can be one of the most exciting and rewarding experiences you can have. But how do you choose the right franchise for you? How do you spot a winner?

Poolwerx founder and CEO, John O’Brien, recently sat down the Franchise Business to talk about how to spot a winning franchise. In this 20 minute podcast, John O’Brien brings his years of passion and experience in franchising to discuss key elements any potential franchise owner should consider.

He discusses simple and practical tips you can use to see which business has the highest potential, and digs deeper into the key factors you should look for to spot a winning franchise.

There is so much that goes into spotting a great franchising opportunity. John O’Brien suggests that some of the key factors to look for are training, marketing, technology, vision and culture. A great was of finding out if a business holds what you’re looking for in all of these areas is to attend a ‘discovery day’ because it gives you the opportunity to delve in deeper into the business and see if it’s right for you.

Another key to success is putting together a great business plan! In the above podcast, John O’Brien shares practical tips on how to find out more about the financial aspects of the potential business, what to look for and who to speak to.

Have a listen!

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An Entrepreneur’s Secret to Success When John O’Brien was travelling the world looking for a franchise to launch, he was very particular about the type of business he wanted to run. “I was specifically looking for a services industry that already existed, yet had strong growth potential, high gross margins, and most importantly, was totally disorganised,” O’Brien says. During a visit to California in the early ’90s, the Brisbane native noticed that the swimming pool maintenance business was driven by a lot of one-person-and-a-van operations. “I’d finally found my business.”

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