Franchise Spotlight: Consultancy
Australia’s consultancy sector punches above its weight and several franchises are thriving.
Australia, the world’s 13th largest economy, has the fourth largest consultancy industry by global revenues, according to market research from Source Global Research.
This analysis also revealed a healthy industry growth rate, with revenues climbing 8.1% between 2018-2019.
Consultants provide expert, independent – and therefore impartial – advice to businesses on strategy, management, operations, HR, finances and technology.
Solving a specific problem for a fee, these business-to-business advisory services are widely seen as more cost-effective than hiring a permanent employee with the requisite skillset.
Franchise industry trends
Consultancy franchises tend to be quite specific compared to other sectors about the experience franchisee candidates must possess. They might favour experience in managerial positions, certain industries or fields like finance, procurement or project management, for instance.
Generally ranging between $25,000-$50,000, the good news is that capital investment requirements are usually modest compared to sectors involving inventory and premises.
The ActionCOACH franchise offers growth, marketing and business development strategies that are all the more effective, it claims, for being delivered in a fun, entertaining way.
The company, which operates in 70 countries, says it accepts clients based more on their attitude than size.
Present in more than 40 countries, Expense Reduction Analysts (ERA) says its recession-resistant business helps cash-strapped businesses control their costs.
ERA, the ‘Best White-Collar Franchise’ for three years in a row at the Global Franchise Awards, also says its franchisees can leverage the expertise of its entire global network to service the unique needs of each client.
Ology Business Coaching, meanwhile, uses the ‘DiSC’ model of human behaviour, which has been used by over 70% of FTSE 500 and Fortune 500 companies.
Ology licensees can run a coaching business part-time or full time, grow their business by recruiting and training new coaches, and generate additional revenue by selling the programmes to other business coaches.