Unit of competency Outline

Date retreived
23/07/2026 1:55 AM AWST

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Establish a franchise

Establish a franchise

Unit of competency
National Code
BSBFRA402
State Code
AUJ63
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080301 - Business Management
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to establish a franchise from the initial research phase through to finalising a franchising agreement with the franchisor and opening the franchise for business.It applies to potential franchisees who will operate under formal franchising agreements and focuses on the planning aspects of the establishment of a franchise.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Identify opportunities for establishing franchise
  • 1.1 Research and identify franchising opportunities
  • 1.2 Determine own interests and skills to assess suitability for identified opportunities
  • 1.3 Determine requirements for establishing a specific franchise
  • 1.4 Research and check viability and business record of franchisor in prospective franchise
  • 1.5 Enter into negotiations with a franchisor to establish a franchise
2 Complete business plan
  • 2.1 Access business plan proforma, as appropriate
  • 2.2 Consult franchisor and others in process of developing business planning documents
  • 2.3 Research and determine financing options
  • 2.4 Finalise financial planning for franchise
  • 2.5 Undertake market analysis for franchise opportunity and complete marketing plan
  • 2.6 Research and determine needs for premises in appropriate area
  • 2.7 Compile relevant information into business plan
3 Identify and address learning needs
  • 3.1 Determine required skills and knowledge to manage a franchise, and identify gaps for self and others
  • 3.2 Seek assistance to assess and address learning needs and document these in the form of a learning plan
  • 3.3 Determine training required by franchisor of a franchisee
  • 3.4 Undertake learning plan and required training programs
4 Finalise agreements
  • 4.1 Complete finance agreements
  • 4.2 Access legal advice as required
  • 4.3 Finalise and sign off franchising agreement
  • 4.4 Obtain required permits for franchise operation
  • 4.5 Finalise contracts and agreements with third parties
5 Prepare for opening of franchise
  • 5.1 Obtain physical and human resources required to manage franchise
  • 5.2 Undertake marketing activities associated with opening the franchise
  • 5.3 Open the franchise for business
No information
No information
Replaces
State Code National Code Title Type
D0720 BSBFRA402B Establish a franchise Unit of competency
Replaced By
State Code National Code Title Type
OCE80 BSBESB406 Establish operational strategies and procedures for new business ventures Unit of competency