So when we hear that 7-Eleven franchisees have been caught out underpaying their workers and claiming they can’t afford to pay them properly, it’s a bit of a shock. Most of us think these franchise businesses are a licence to print money. It turns out the franchise game is tough to win. Often the only people earning less than the kid behind the counter are the ones who bought the franchise. The life of a franchisee is a life of fees. They pay the franchisor to buy the business, pay a share of takings, and often a lot of other charges. The founders of Bakers Delight and Boost Juice make it onto the rich lists. Meanwhile many franchisees go bankrupt or end up fighting their franchisor in court. Franchise disputes are so common the Australian Competition and Consumer Commission has a whole page set up to make sure franchising runs smoothly. So why on Earth would anyone buy a franchise? The answer is small businesses fail a lot. A lot. Survival rates: They’re not that great.Source:Supplied About 10 per cent of the small businesses open at the start of the financial year close by the end of the year. Surviving… Read full this story
- Hint of truth in LeBron-Calipari rumors?
- Free advice for Bush: Tell the truth
- NFL Truths: Braylon, Vince and more
- Teams, not agents, should run Hot Stove
- NFL Truths: Change our view on PEDs
- Coach Tom Rathman leading strong 49ers run game
- NFL Truths: Break bank for Manning
- Willingham’s 3-run HR lifts Twins over A’s
- Truths about kick returns, ‘power struggles’
- 2 Truths and a Lie Week 15: Seahawks borrow from Belichick’s ‘Up 30 Playcard’
The truth about running a franchise have 275 words, post on www.news.com.au at September 7, 2015. This is cached page on Travel Breaking News. If you want remove this page, please contact us.