Turning My Business Into a Franchise - Franchise Business Source

Turning My Business Into a Franchise

If your initial one, two, three or six locations have been successful, you likely have dreams of expansion and rightfully expect that your business concept will work anywhere.

There are several methods of expanding and the franchising model is extremely popular. It provides a path to rapid expansion and brand recognition as the franchisees take on owner’s duties with regard to funding capital, staffing – hiring, training, ongoing management and other daily operations. In exchange for your operational systems, marketing expertise, sales and product training and support, you have a motivated team of business cheerleaders that push as hard as you do for continued success.

However, the process of turning your business into a franchise is involved, complicated and can be expensive. It needs to cover a whole host of tasks and strategic decisions that will govern how you operate the franchise rollout. It also requires a switch in your thinking – how do you run the franchise expansion vs how do you run your day-to-day business.
For all these considerations, the franchising model is not the right fit for all businesses.
Here’s the good news – there are people to help!

We have resources available that can be contracted to help you through each and every step of the process to become a franchise. But first, take a few minutes and objectively look at your current business – use these questions to stimulate your evaluation:

  • What basic need or desire, for the business user or consumer, does your business satisfy?
  • How easily can your business concept be replicated?
  • Will the franchisee be able to be profitable? What is a good expectation of net profit to owner?
  • Will you be profitable as a franchisor?
  • How will you develop the franchise support team to drive success for the franchisees?

Our franchise development resources will want to first discuss these questions and provide you with market trend insights that help you finalize your decision. Our resources can also help you develop all franchise related material, develop launch, franchise sales and marketing strategy..

Contact Us Today to start the conversation.

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