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Be your Own Boss

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If you've always fancied yourself as an entrepreneur but aren't sure how to start your own business, a franchise might be the way. Franchise consultant Jane Lombard ( explains that it's a business with an existing marketing plan, trademark or symbol that you've been given the right to operate (making you the franchisee) by the overarching owner (aka the franchisor). The benefit of this is that you don't have to start a business from scratch - it's already laid out for you. So how successful are they? Three women spill the business beans...

Aggie Hong, 24 (Franchisee of Moi Moi Fine Jewellery, Perth)

"I'd always wanted to own a business. During the last year of my business administration degree, I saw Lauren and Alana Chang of Moi Moi Fine Jewellery featured in SmartCompany's Hot 30 Under 30 entrepreneur list. I started researching the business, fell in-love with the signature jewel, moissanite, and enquired about a franchise. 

While completing my university and working part-time, I had to look for a lease , find shop fitters, plan the launch, search for sales staff, attend intensive training in Sydney and pull together funds - all within 8 months! Moi Moi Perth opened in October 2010; we've now built a loyal following and have custom-made some incredible pieces. 

It's a relief to own a franchise because I get the guidance - it's one of the most effective ways of learning to run a business. And of course there is nothing more satisfying than watching the business slowly grow each day."