Source: Unsplash/Vaishnav Chogale
A recently released report has shed light on the changing demographics of Australia’s $172 billion franchising industry, the vital role of technology, and the effect of internal migration growth on Australia’s rapidly evolving franchising landscape.
The report “Unlocking Franchise Growth in Regional Australia” was released by Australian startup and online platform for buying and selling businesses, Eden Exchange, in partnership with the Franchise Council of Australia (FCA).
According to the report, the franchising industry has undergone a significant transformation in adapting to the technological advancements of the modern era and a notable shift in the industry’s mindset has been showcased in the report, moving away from a singular focus on franchise sales towards a growth mindset that places emphasis on innovation, integration of advanced systems and a deep understanding of the Australian market.
The report also highlights that over the past 15 years, there has been a notable migration of people from capital cities to regional areas in Australia, according to the Regional Australia Institute.
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