Article - Thinking about franchising your concept?
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Article - Thinking about franchising your concept?

 

Why & When to Franchise Your Business

 

  1. You have a well-defined brand with a unique selling proposition and have captured market share with your current points of distribution.

 

  1. You can offer customer service and savings????? by creating a larger network of distribution points.

 

  1. You have proven your concept in three or more locations.

 

  1. Your business has systems and written processes that can be taught to others.

 

  1. Your business is better operated by an owner/operator than an employee/manager.

 

  1. You can’t access capital to grow.

 

 

When Not to Franchise Your Business

 

  1. You only have one successful operating unit.

 

  1. Your business is only successful (profitable) when you are there.

 

  1. Your business does not have systems in place and written processes.

 

  1. The founder is the only management staff.

 

  1. Your business does not generate enough income for to replace a professional’s income if they were awarded your franchise.

 

  1. Your business does not have a replicable marketing strategy.

 

Your business units are growing so fast that you do not have time or staff to train and support franchisees.