As with any national trauma, the collective psyche shifts. Trust, once placed in institutions, is redirected.
As we exit the instability caused by COVID-19, and we look to the future of our industry, there are a few key factors to reinforce the desirability of business expansion – and franchising as the vehicle for both a capital funding and HR strategy.
The global pandemic (COVID-19) brought mental health crises born of isolation and insecurity. Yet conversely, the worldwide fear of contamination also awoke in many a deep resilience and self-reliance as never before.
While corporations in many sectors struggled to re-align their systems and bureaucracies to the transition to work-from-home & hybrid cultures, the bulk of the workforce tipped the balance towards greater flexibility and a voice favouring the employee’s priorities, with lifestyle, family and earning capacity at their instruction, not that of a company.
In short, Australia’s work culture has undoubtedly changed.
Employees are now looking at other options. These options reflect their desire for both self-reliance & flexibility.
Inflation is top of the list of concerns in our region according to a recent McKinsey study on global economic sentiment. And wage inflation is at the core of that. Franchising is actually an inflation risk mitigation strategy. By partnering with passionate owner operator franchisees, you receive not only a motivated workforce, but also a productive – and profitability oriented one.
The psyche of the Australian employee was transfigured during the pandemic. Self-care, mental health and self-reliance became default positions as a result of the traumatic stressor of COVID-19. Economically, as Australia moves out of the pandemic towards more uncertain times, adorned with inflation and overseas conflicts, everyday Australians are looking for certainty. And where is the future more certain than in your own hands? Franchising your business – or alternatively buying into a well-oiled existing franchise – furnishes you with just that opportunity.
International travel and with that migration and temporary visitors such as international students are on the rise. Coupled with this trend is a ready and willing workforce, keen to make their mark on their new country. Migration to Australia remains the key source of our growing population.
Australia remains a safe and even promising bet for investors. We are a politically stable democracy, with a forecast for population growth, an innovation hungry entrepreneurial segment and in spite of tensions around the region, our borders are secure. So, in spite of the tremors of instability around the globe, our market remains one replete with optimism and opportunity.
Franchising or owning a franchise – is now seen as one of those options.
Innovative businesses looking to expand are now turning to franchises instead of shackling their futures to institutions such as banks for huge capital investment to drive substantial network growth.
Conversely, the entry price to own a turn-key business is surprisingly affordable for employees wishing to switch to entrepreneurship.
For over 35 years, DC Strategy has been helping both ends of the spectrum – assisting businesses in growing their networks through franchising and helping individuals take control of their futures with ready-made business solutions.
Barry Money
Barry Money is the Group CEO of DC Strategy. He is a graduate of the Australian Institute of Company Directors and a C-Suite professional, with a MBA in entrepreneurship. For the first ten years of Barry’s career, he consulted in Toyota’s franchise standards to the global Toyota network, including leading innovation and transformation projects. Barry has senior corporate executive experience across multiple disciplines including sales, marketing, export, customer service, engineering, systems development and supply chain with full accountability for P&L. Originally, Barry trained as a linguist and interpreter. After many years living and working all around the world, he is fluent in Japanese, French, German and conversant with several other languages