Franchise Your Business

Let’s talk about Franchising Your Business
Franchising your business is the most popular way of growing. Of course not all the 80 companies we’ve franchised are successful. Several of them did not devote their attention to franchise sales that was needed.
When you begin thinking about how to franchise your business, we believe that you should educate your self thoroughly on what is required to be a Franchisor. We came up with 10 essential elements that determine your franchisability. Use these to gage your business viability as a franchise. Once you do that you will have a good idea as to whether you should go forward and franchise or maybe wait until you are ready.
More importantly you should look at where you are financially, personnel, and time constraints before you go forward. Any of these can spell trouble for you during and after the franchise process.
Let’s assume you decide you are franchisable. Then take a look at your long term goals and exit strategy. Are they in line with franchising? It all comes down to “Why do you want to franchise”? Answer the Why and you’ll know how to proceed. You may want to take a blank sheet of paper and do what Ben Franklin did. Draw a line down the middle of the page. Write yes on the left side and no on the right. Then proceed to go through your list of what to consider.
Many of our clients have found our eBook, Why I Franchised my business and Why You Should Too, useful in helping them decide. Email or call me at 770-595-1055 and let know you want one. Or just call to chat. We are always happy to help you with your decision.

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Tom Rather

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