Are you sick of your day job? Considering buying a franchise? Give yourself the best gift this Christmas and make a move.

Are you disenchanted by the same routine?

Maybe you’ve worked in a role for a long time and have always wanted a change.

Do you want something more rewarding and hands on?

You might feel that working for the company and meeting its goals has little meaning for you.

Still looking for that next big adventure?

You might feel that you’re at the next stage of your career and are after something exciting to focus on.

Above all, do you want to be your own boss?

This Christmas, give yourself the gift of taking the first steps to your future.

Here are the steps you can take:

Checking out what franchising has to offer

Franchising functions as a way of growing a business without the business owner (franchisor) investing in new outlets. The franchisor increases their brand presence by licensing to franchisees the right to operate a business or distribute goods or services for a specific term. The franchisee then pays the franchisor a fee in return. This could be an initial payment, an ongoing cost (either a flat rate of a percentage of turnover), or a combination of the two.

Why not consider enrolling in an online pre-entry education course at Griffith University? It’s free and good overview of how franchising works. The course is funded by the Australian Competition and Consumer Commission and a good way to learn more about the sector.

Getting familiar with the sector and what’s happening in the news

Keeping up with trends and news in franchising is a good way of familiarising yourself with the sector. You can keep updated by signing up to the Franchise Business newsletter. You might also consider browsing through the listings provided by franchisors on www.franchisebusiness.com.au to view opportunities to get a feel for brands.

Talking to the family

If you’re still keen after doing some initial desktop research, talk to your family about the investment, both personal and financial, you may need to put in.

Know what you are capable of.

Are you able to manage the challenges of running a business?

Are you able to withstand the financial burden of an initial investment and ongoing costs?

Do you have the support of your family if the goings get tough?

Do you have an exit strategy or long term plans?

Getting professional advice

Once you’re confident in your personal situation to purchase a franchise and have some franchisors in mind, it’s time to consult experts. Due diligence or research is a fundamental part of your journey to buying the right franchise.

Speak to a franchise accountant about whether your funds add up and you can manage the financial obligations of a franchise. Consult a lawyer that specialises in franchising law about the legal obligations of the franchise agreement.

Contacting franchise professionals will cost money, but it will be worth it when you select the right franchise system for you.