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Business Partners Welcome to Workforce Extensions - unashamedly different! Franchising - Frequently Asked Questions Here are answers to some frequently asked questions that provide you with a brief overview of the Workforce Extensions system. What is the legal structure of the business partner relationship? The relationship operates under a franchise agreement and Workforce Extensions complies with the federal government's Franchising Code of Conduct. What is the investment in a Workforce Extensions franchise? The investment comprises:
In addition you will need to allow for legal and accounting fees, the cost of incorporating a company to own the franchise, any prepaid expenses such as insurance and some working capital. Can I borrow or finance the investment? Yes. While the investment in the franchise is modest we do not restrict your ability to borrow. You should consult with your accountant to make sure that your borrowings are reasonable. Does Workforce Extensions provide any assistance with financing the purchase of the franchise? Yes, we can introduce you to our preferred equipment financier who offers leasing finance for office equipment to suitably qualified applicants. What initial training do you provide? We are proud of our comprehensive training program which will help you get to know our system right from the start. How long does the Workforce Extensions franchise run for? The initial term is 5 years. You have the option to three further 5 year terms, subject to certain conditions and the payment of any fees applicable at the time of extension, giving a total of 20 years. Can I sell the franchise? Yes, you have the right to sell on the open market at any time provided that we approve of the proposed purchaser. There are certain conditions that must be met such as the buyer undergoing any necessary training and there is a transfer fee payable to us. Full details are contained in the franchise agreement. What skills, abilities and other requirements are you looking for in a Workforce Extensions franchisee? We are seeking entrepreneurial people with leadership or management experience who have had some exposure to sales or recruitment. This is because with that experience you will have gained contacts and skills that will be valuable to you as a franchisee and you will take less time to establish your franchise. You will also need to demonstrate that you have the management skills necessary to operate a small business with our help and lead a team. Naturally you must also be able to finance the upfront investment. What are the hours that I would be working? Our offices are open 5 days a week. Most franchisees introduce a roster system that ensures a staff member is there to service clients from 7.00am to 6.00pm. Which areas are still available? Since the company only began franchising in 2002 there are still many areas available. We would aim to place you in an area that allows you to maximize the value of your network of contacts. How many franchisees does Workforce Extensions already have? At March 2011 we have 13 franchisees located on the East Coast of Australia. Do all the franchisees work from offices? Yes. We would expect that a suitable office would be selected for you in your area and fitted out and equipped to our minimum standards. What does Workforce Extensions think of franchisees taking a second franchise? We encourage franchisees that have the necessary financial and managerial resources to expand and take a second Workforce Extensions franchise at another location. What are the ongoing fees and charges? There is a Franchise Service Fee and also a Marketing Contribution. These amounts will be discussed in detail with you if you decide to move forward. What do I get for the Franchise Service Fee? The services we provide include:
What do I get for the Marketing Contribution? |
