Why franchise my business now?
A
business franchise model or franchise
business plan enables a franchiser to learn how to franchise a business
and expand without incurring debt or investment. The normal barrier
to expanding a business is lack of capital, but since the new franchise
owner provides the initial investment to open a franchise, franchising
allows for
franchise development with minimum investment.
Because a franchisor's income is based on the franchise owner's sales, and
not profitability, keeping an eye on a franchisee's expenses
requires much less direct attention.
Franchising my business - More Growth Less Risk
Starting a franchise
removes one of the key barriers to expanding
business, which is identifying and keeping good expansion managers.
By learning how to franchise your business you can alleviate many
personnel problems by using an invested franchisee to open a franchise
and run the business.
Because the franchise owner, and not the franchisor,
is responsible for lease and service agreements, arranging for design
and build-out, hiring and training staff, franchising reduces liability
to the franchisor. This enables franchise development and business
expansion at greatly reduced risk to the franchisor.
For businesses with tight schedules or too few personnel, franchise
development is a fast way to grow. The franchise owner is your new
right hand man who is totally committed to their business which makes
revenue flow to you.
You become the franchise coach to the franchisee
who does the heavy lifting. Thus, franchise development provides
the franchisor the potential of huge financial rewards through rapid
growth with limited resources.
Learning how to start a franchise is a great opportunity.
Let's
see if franchise development, is for you!
Look over the questions... think about your answers:
Franchising my business:
- Can the gross profits from your business pay a franchisee the
4% to 8% royalty fee and still earn a 15-20% return on his investment?
- Is there a profitable franchise development prototype location?
- Can you provide a strong management team to provide support and training to franchise owners?
- Is there enough funding for launch of franchise development, training and support?
- Is there time to direct towards acting as franchise coach?
- Are there Registered Federal and State Trademark/Service marks,
uniform trade appearance, signage, logos and slogans?
- Do you have proven and written operation processes and procedures
for franchise development?
- Do you have a comprehensive training
program to start a franchise?
- Are there detailed legal documents regarding the business's
strategies and operating policies as a component of franchise
paperwork agreements?
- Is there a market for your products and services
that would enable you to start a franchise?
- Do you understand your competition for your franchise development?
- Are there business relationships with suppliers, lenders, and
related key resources/vendors that will enable franchise development?
Did you answer YES?
A "yes" to all of these questions is not necessary! It's
just a way to get you thinking in that direction.
Want to know more about how to franchise your business?
Contact your How to Franchise.org franchise analyst and learn how
we can develop a custom franchise business plan for your business.
Call (866) 361-9940 or email tom@howtofranchise.org now to get started.
Fill out your
contact information or
Email us:
tom@howtofranchise.org
Franchising my business
Yes, I am ready to have you help me franchise my business fast, easy and economically. Get the help you need with experienced and affordable franchise business consultants.
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