The Growth In Franchising Could Aid Economic Recovery

The growth in franchising could aid economic recovery

Johnny Kennedy, General Manager of Battery World, sees franchising as fundamental to the economic recovery of Australian businesses.

“2022 is the year of the franchise industry,” he said. “Franchising already contributes $184 billion annually to Australia’s economy and now, as Aussies are quitting their jobs to become their own boss, buying a franchise is a large part of this.”

A successful franchise model provides an opportunity for everyday Australians impacted by the pandemic to rebuild their lives.

“We have seen an influx of people wanting to acquire their own business after experiencing financial hardships and difficult working conditions,” Kennedy says. “Franchising has always enabled people who otherwise might struggle to start their own business to do just that.

“A franchise model is a more accessible way for them to venture into business ownership for the first time because they have a reliable business plan and an experienced network to rely on. As a result, interest in franchising is reaching an unprecedented high, and 2022 is set to be a year of major franchise growth.”

Investing back into the network

Meanwhile, 80 per cent of Battery World outlets have experienced a growth in revenue over the last three years.

“We currently have 111 Battery World stores across the country, and many of our Franchise Partners have invested back into the network by acquiring second and third stores,” Kennedy says. “Nine existing franchise business owners have acquired additional stores within the last fiscal year.”

He believes the brand’s success is built on Franchise Partners’ commitment to culture, collaboration and service within their local communities.

“Our customer-centric approach has fostered a culture of loyalty and trust,” he said. “In turn, this has significantly contributed to the solid growth Battery World has experienced over the last 25 years of operation.”