The Accidental Entrepreneur by Janine Allis

Author:Janine Allis
Language: eng
Format: epub
Publisher: John Wiley & Sons, Incorporated
Published: 2016-02-13T00:00:00+00:00

So before you make the leap, consider carefully what kind of model your business is best suited to.

The Boost franchising method

I never even considered having just one juice bar. I always knew that Boost was going to be big (which shows just how naive I was, and lacking in any true knowledge of what was involved to make this prediction a reality).

In the very early days, I hadn't considered how exactly I was going to create all these stores. I simply thought I'd have another and another and another … Unfortunately, as the brand expanded, I simply couldn't hire the high-quality people I needed as well as expand. I realised early that if we wanted to grow quickly, people in the company needed to have ownership — and there's nothing like having everything on the line to make a business work well. Enter franchising.

I'd never had anything to do with franchising, and didn't really understand how it worked. We met Rod Young, a franchise industry consultant, through a friend of a friend, and approached him to advise us in setting up the Boost Juice franchise. I always think that if you're going to do something, you should do it right, and getting Rod on board to help us avoid some of the basic mistakes in franchising was a good thing for us in the early days — at the time, he was the best in the business.

Another important factor was getting the right franchise manager. I've always seen our franchise manager as the gatekeeper of the Boost Juice name. I imagine her standing in a knight outfit (with a very sharp sword) on a plank outside the Boost castle, and I know that she will not let the wrong people into my business (or our business, as she would say). We do not tolerate mediocrity. Believe it or not, the best decisions we have made involve the people who are not with us!

For Boost Juice, franchising has been a wonderful way to get amazing people into our business and to create ownership in individual Boost stores. We call our franchisees ‘Boost partners' and in a sense that's what they are. Franchisees pay Boost an ongoing royalty — a percentage of turnover — for the right to use our brand on a single store. They are buying into the brand and the support we give them. The statistics are very straightforward and, overall, you're more likely to run a successful business if it is a franchise business; however, buying a franchise business is not a blanket guarantee.

As the franchisor, we get two major benefits from the relationship. The first is growth of the brand. (We were listed in BRW in early 2005 as Australia's fastest growing franchise network.) The second is the quality of the people you bring into your business to run the individual stores. Both the franchisor and franchisee have the same motivation to be successful, and both parties have everything on the line to make it work; this is a great motivator.

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