How long is the Franchise period? Fourteen years in total, comprising an initial term of 7 years with a renewal option of 7 years. Franchising is a long-term commitment. The relationship between franchisor and franchisee must be carefully assessed to ascertain whether it will be beneficial in the long run for both parties. Can I make alterations to the Franchise Agreement? Banjo’s strongly recommends that you seek independent legal and financial advice as to the meaning and effect of the agreement however, the content, which is standard across the franchise, is generally non- negotiable. The terms and conditions contained in the agreement have been carefully considered, and take into account extensive practical experience. A set standard ensures the protection of all members of the franchise network. What are the risks? Any commercial venture is subject to a variety of risks, and a franchised store is no different. Banjo’s has a proven track record of successful franchised stores and relationships, with a commitment to further growth. It’s in Banjo’s best interests to assist you to achieve the best out of your business, however we cannot provide you with any guarantee of success or guarantee against any losses. Ultimately it is for you to assess the risk and returns that can be achieved from a Banjo’s franchise. We strongly recommend you obtain, and maintain independent financial advice throughout this process. Do I have to work in the Franchised store? Every Banjo’s store is required to have an operator. Our business experience indicates that this is the most successful model. So a franchisee is able to choose whether to work in the business, partner with an experienced operator or manage the business with an experienced baker and store manager team. In time, if you have a successful track record, you may be approved to open up a second store.
How do I know if I’ll want to further explore becoming a Banjo’s franchisee?
Because Banjo’s encourages you to participate in our ‘Try Before You Buy’ program. Banjo’s place you with an existing franchisee in their store for a week. You get to have hands on experience running a Banjo’s bakery. This means a full time commitment for the term of the placement. In production expect to experience early starts. Most stores start production at 2am. It also means late finishes (around 7.30pm) to gauge the sales side of the business. We recommend that you commence your ‘Try Before You Buy’ in one of our Hobart stores so that you have access to our Resource Centre staff, and have access to a number of our local established and newly opened stores. The ‘Try Before You Buy’ program is also available at designated mainland stores. At the end of the trial period the franchisee will provide Banjo’s with an assessment of your trial.
It is important to get your store off to a flying start
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