In recent years we have seen a notable change in the way we work, with a shift away from more traditional 9-5 jobs, and a move towards more innovative employment solutions. In addition to this, there has been a spike in the popularity of entrepreneurial ventures as the concept of self-employment captivates the mind of the young workforce.
Franchise Business identified ‘Adaptive Entrepreneurs’ as one of the top 10 consumer trends for 2018, going on to say that ‘There’s a strong trend for self-employment as consumers reject traditional 9-5 working models and are prepared to take risks.’ Other sources have also noted that it is likely a lack of available jobs in more traditional sectors of the market that is causing people to look into these alternative paths.
The franchise industry presents itself as a great opportunity for those looking to be their own boss and have more control over their employment situation. Despite slow economic growth across the country, the franchising sector continues generate solid results, employing approximately 472,000 people and pouring almost $150 billion into the economy, says Eden Exchange.
Furthermore, looking at a smaller segment of the Australian market, Raghu Rajakumar, director of the Eden Exchange, notes a 50% increase in franchise applications in Victoria compared to this time last year. Figures like this make it clear that whether it be an opportunity to launch into a new career, or the appeal of being one’s own boss, the franchise industry is booming as Australians make the move.
Taking the step from employee to self-employed can be daunting, and the cost of opening a franchise can require a lot of capital. If you’re looking at making the move but are a start-up franchise business who cannot obtain government funding, or doesn't have the backing of private investors and don't want to give away a controlling share of your business, debt finance could be the path for you.
Instead of purchasing the equipment you need outright at the start and using up valuable capital which may be needed at a later stage to promote or expand the business, get franchise equipment funding through a company like Cashflow It.
At Cashflow It we aim to take the confusion and the hassle out of your asset financing. We do this through our simple and fast application process, transparent contract, manageable payments, excellent customer service and solutions to suit your needs.