The Jim’s name remains one of most popular and respected name in Australian service franchising. Presently operating almost 4,000 franchises in Australia, NZ, UK and Canada with more than 50 divisions covering the full-range of service-based industries, Jim’s believe that the success of franchising lies in the welfare of franchisees.
The Melbourne South East region has unlimited potentials in the OH&S and fire service industry. The region is made up of over 55,000 businesses, which generate 44% of the products manufactured in Victoria. It is hard to imagine a franchise area with more potential than this.
Test and Tag is one of the fastest growing service segments in Australia. Jim’s Test & Tag offers a service assisting businesses in meeting their OH&S obligations. They also offer a portfolio of testing services in the electrical & fire industries, appliances, RCDs (safety switches), emergency & exit lighting, fire extinguishers, fire blankets, fire hose reels, first aid kits, and safety signage.
When you acquire this franchise, you get the benefit of incredible support and training. You do not require formal requirements to be a Test and Tag franchisee. Jim’s provides you with an all-round expert training to be certified as a technician. Formal electrical training is not required.
Aside from providing electrical risk assessment as well as basic fire prevention services such as testing safety switches and inspecting and maintaining fire extinguishers, fire blankets, fire hose reels and smoke alarms, this company can also test microwave ovens to make sure they’re not leaking radiation.
Jim’s Test & Tag is ISO 9001 accredited – that’s the internationally-recognised standard for the quality management of businesses. Their major objective is providing successful business opportunities and, as a result, their selection process is very rigorous. Entrepreneurs who make it through the initial filtering process attend a two-day Prospect Information Workshop where, as well as undergoing further assessment, they receive everything they need to make an informed decision.
Prospects are then asked to create a business plan and a cash flow to demonstrate that their goals are achievable and that they have the resources to survive the critical first 12 month period when they’re building the business. However, this is a very lucrative Franchise for any entrepreneur looking to venture into the test and tag business in Australia or NZ.
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Financial Investment Required to Open Test and Tag Franchise?
- Initial Investment: $45,000 + GST plus equipment
- A suitable van
- Total Investment: $100,000
Steps to Open a Jim’s Test and Tag Franchise
According to the company’s website, Jim’s Test and Tag is expanding and learning with every single workshop. The company believes in zero limitations and is always eager to help franchisees achieve success. However, without further waste of time, below are steps to consider when acquiring this franchise.
You are expected to visit the company’s website and fill out some preliminary information to get started. Note that this is not an offering to sell you or for you to acquire a franchise. An offering for this franchise can only be made by a prospectus only in the form of a franchise disclosure document (FDD).
At this initial stage, the goal is to create a relationship between the two parties. It’s imperative to discover if you have a shared interest in working together.
Review of the Franchise Disclosure Document
Reviewing the Franchise Disclosure Document (FDD) is a very crucial part of the due diligence process. Notably, you’ll learn about the franchise system’s financials and details around your investment and start up costs. The FDD will offer deep insights into the nature of the relationship the franchisee will have with Jim’s Test and Tag.
However, since the FDD is quite daunting and contains legal details, it is ideal to have an attorney walk you through the document to thoroughly understand it. This way, you are clear about what the company’s expectations (and your obligations) are.
At this point, you will receive support from the company’s development team on how to build your business. The company will provide demographics, target markets, suitable real estate location suggestions, and assistance with other aspects of the business.
Have it in mind that part of running a successful business is having a foundation of knowledge about the operating playbook. The company will feed you about the training process and the support that will be provided to allow you to follow its proven systems.
Here you are advised to seek out other franchisees or even previous franchisees. It’s very advisable that each franchise candidate contact other franchise owners to have frank discussions about their experience. This is a unique way to learn about the company’s culture and how others view the franchise leaders and services.
In addition, it’s a good idea to visit the different franchise locations and go through the franchise disclosure document again. Have it in mind that collecting feedback from other franchisees is critical before signing a franchise agreement. Through this franchise sales process, you will be able to establish what you can expect from the franchise and identify any questions, issues, or concerns you may have.
Franchise Discovery Day
This is the point where you officially get to meet the management, and get to know each other well enough to determine if you will make a good team. Other potential candidates and franchisees may be in attendance as well. Note that this is a perfect opportunity for you to learn about the company’s operations and ask questions. By the end of this event, you will most likely have enough information to make an informed decision.
To help you make a concrete decision, you may want to seek the services of a consultant or consult with your attorney or accountant to evaluate whether the opportunity is right for you. But if you are comfortable with the opportunity, you can close by signing the franchise agreement. At this point, you’ll be asked to pay the necessary fees and then the exciting process of launching your franchise begins.
There is a reason you see the Jim’s brand all over Australia – it’s because the opportunity they offer is unlike any other franchise in the country. Over 90% of Jim’s brand franchise owners make a successful full time income – and many earn substantially more than that.
The Jim’s name is synonymous with reliability and integrity. Jim’s have been helping Australians at home for more than thirty years and in that time, the group has expanded from one lawn mowing run to an empire covering the entire country and internationally.
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