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Franchise Your Business

#1:   Determining if your business is “franchisable”.

#2:  Is franchising the right growth strategy for your business?

Here are some initial assessment questions:

  • Is the business model replicable?
  • Is there a clear differentiation from competitors in the marketplace?
  • Is the business profitable? There must be a proven return on investment.
  • Are their licensing requirements state-to-state that impose a barrier to entry?
  • Do you have the capital reserves to implement a Franchise Program?
    • Resources required: personnel, legal, marketing, operations manuals, training and technology.
    • The amount will vary depending on the expansion plans: ($50K – $250K)

While franchising may be a great strategy for a proven business model, it is not always the recommended path for growth. There could be a combination of distribution means that are used such as:

  • Company-Owned
  • Licensing or Business Opportunities
  • Distributorships
  • Agency relationships

Furthermore, it is not uncommon for Franchisors to grow with 1 or more of the above-mentioned channels, in addition to selling franchises.

Take the next step to “Define Your Journey” Book a 30 min Call

Are you thinking about Franchising your business? Let’s talk.