How to Franchise?

The first step in determining whether or how to #franchise a business involves two questions:

1. Is this business franchisable?

If yes,

2. What is the right strategy?

Not every business can or should start a franchise program. These questions can only be answered after evaluating your business and determining how franchising fits with your vision, goals and objectives.

#1- If the decision to franchise a business is made, a franchisor should develop a #businessplan outlining the company’s growth and strategy for the next five years.

#2- To ensure successful franchisees and maintain quality control, the franchisor has to develop an "operations manual & documantation guide" for its franchisees. These will serve as a sales tool demonstrating franchisor competence to new prospects, as a training guide for new franchisees and as a reference guide for established franchisees as well.

#3- The franchisor should also develop #training programs.

#4- The new company will also need a specific marketing plan designed to get the franchisor’s message to the targeted franchise prospect.

Franchise consultants are excellent resources for prospective franchisees. They help guide your decisions as you choose among myriad franchise options. Historically, consultants help franchisors develop and expand their business model, but this is shifting. Now, franchise consultants also benefit those seeking new franchise seekers to help match individuals to a franchise that promises more opportunities for success.

A professional franchise consultant will evaluate your wants, needs, skills and ideas. She will survey and consult based on your preferences. As the consultant works, there will be dozens of calls and follow-up questions as you consider your next career move into franchising.

Did you know that the founder and inventor of the Singer sewing machine is widely viewed as the father of modern day franchises?

#Consultancy #humanresources #designbusiness #sustainablesolutions #eventplanning #Franchising