There’s been a noticeable change to the New Zealand landscape over the last few years. Familiar signs are popping up all over the country, which can mean only one thing…franchising is booming!
Why the buzz?
Once you have researched the risk involved in opening a small business, the proliferation of franchises begins to make sense. The Franchise Association of New Zealand reports that around 4 out of 5 independent businesses cease trading within five years from their launch.
When people buy a franchise ‘they buy the experience and the formula from the franchisor, in order to minimise the risks and increase their chance of success.’
The right timing is also important when it comes to opening a business. The Kiwi economy is actually in a sweet spot right now if you’re thinking of launching a new venture over the next year or two. According to Westpac, New Zealand’s economy ‘has been growing at a steady pace for some time.’ Annual GDP growth is expected to top 3% in the next couple of years.
If you’re thinking of investing in a franchise, make sure you do your research. An established network such as Jamaica Blue has over 25 years’ experience in what makes a successful café business.
They support their franchisees with award-winning training and ongoing support, as well as assistance with bank financing. They’ll be with you every step of the way. Jamaica Blue is also known for the high quality of its fresh ingredients and premium ingredients, making it a strong choice in a competitive market.