HOW TO APPLY

This is a step by step guide to the process of becoming an Opposite Lock Franchisee.

Our Franchise process is established on 2 keys principles, disclosure and productive relationships. The process is designed to ensure that all potential new franchisees are provided all information they need to fully investigate and evaluate the franchise investment (we are confident that what you discover you will like) and to be able to form close and working relationships with all the key managers of our business to ensure that the full support of the organization is available to each and every new franchisee

STEP 1:

Submit an Enquiry or call 1300 550 155 to receive further detailed information about the franchise

The information you will receive includes:

• A listing of all New Sites, Stores forSale, and Search Areas for New Sites
• A Frequently Asked Questions document – the Facts and Figures
• An Information Booklet about Opposite Lock and the Automotive Parts and Accessories industry
• An Expression of Interest Form

STEP 2:

Submit an Expression of Interest

If after reading the information provided you wish to proceed further we ask that you complete and return an Expression of Interest form. This form will give us a few brief details about you, and your immediate business ambitions. You may nominate a specific opportunity in which you would like further information, e.g. a specific store that is for sale. On receipt we will get in touch.

STEP 3:

Let's Meet

We will invite you to meet with one of our Business Development or Field Support Managers for an informal chat about the Franchise and identify specific opportunities you may have an interest in.

• If your interest is in a specific store that is for sale, we will provide you with a Business Summary document which will give you the top line information about that franchise business

STEP 4:

 Initial Application / Disclosure, Investigation and Due Diligence

Following our meeting, if you wish to proceed further, then you need to be able to investigate the franchise investment in detail and to conduct your due diligence. We will therefore encourage you to complete an Initial Application for Franchise (soft copy form) and to submit this application for preliminary approval. Assuming your Application receives preliminary approval, you will be provided a complete Disclosure Package. You will receive;

• A Disclosure Document ( which includes contact details for our existing franchisees, we strongly encourage all applicants to contact our existing franchisees to have a chat)
• A draft Franchise Agreement
• A Business Plan template and Financial information about the store network, including existing store sales and earnings, development and operating costs
• A copy of any relevant Lease and Lease Disclosure ( for new sites a Site Evaluation Report will also be provided)
• Contact details for Accredited Finance providers

If you have made an Application for a specific existing store that is for sale then you will also receive

• A Business Profile containing detailed business information inclusive of
  • Demographic and trade zone information
  • Financial statements ( 3 years )
  • Copy of Lease and Lease Disclosure
  • Copy of existing Franchise Agreement
  • Staff and Roster Details
  • Stock reports
  • Sales reports
  • Advertising and marketing activity report

STEP 5:

Confirmation of your intent to proceed

It is our intent to ensure that all the information provided in both the disclosure and your discussions with us is sufficient to enable you to confidently decide if you want to proceed with a specific new store site, a potential territory or the purchase of an existing business (assuming that a purchase price has been negotiated). If you confirm with us that yes, you do want to proceed, then we will ask that you;

• Formally complete the Application for Franchise ( hard copy, and evidence documentation)
• Pay a refundable application deposit of $2,000
• Submit your completed or partially completed Business Plan for assessment

On receipt of your Formal Application and application deposit we will arrange with you

• Completion of any outstanding Disclosure Items ( e.g. the lease for a specific new site)
• Your attendance to an Orientation Day (at out cost) at our Melbourne Head Office

STEP 6:

Orientation Day

This is a very valuable and rewarding day. After this day there should very little if anything that you do not know about Opposite Lock, the franchise, your future store and how to operate it. We will also have the opportunity to get to know you better and to evaluate any special support or needs you may require in your future franchise. We will arrange your travel to our Head Office and National Distribution Centre in Nunawading, Melbourne where you will participate in discussions and presentations, with our Senior Department Managers on

• Advertising and Marketing
• Product buying, product range and breadth, inventory management
• Store Operations-
• Merchandising
• staffing and management systems
• Point ofSalean I.T systems
• Business administration and reporting
• Store construction, image, set-up
• Training programs

Also your business goals, ambitions, and expectations will be discussed and your Business Plan will be assessed and evaluated

STEP 7:

Application Approval and Franchise Agreement

If you advise us that you intend to proceed with the franchise opportunity following the orientation day, and your Business Plan and Application are approved by us, then we will arrange for a Franchise Agreement to be offered to you for completion.

• If a new store is being developed we will provide final development cost estimates and a payment schedule
• If an existing store is being purchased we will make the necessary arrangements with yours and the vendors lawyers for settlement

STEP 8:

Training

Your 4 week training program must be completed before the franchise is finally completed you open your new store or complete the purchase of an existing store. Training primarily consists of extensive hands on training in a nominated training store, and some elements of class room training are conducted at our Melbourne Head Office.

Also for the first 4 weeks of operation of your new business a Training Manager will be in store with you to provide you mentoring and intensive care support

Welcome to Opposite Lock

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