1. 1. Assess the feasibility of Franchising
    • Gather information
      1. Attend Franchise Seminars & Webinars
      2. Read books on franchising
      3. Talk with a Franchise Analyst
      4. Take a Franchisability Quiz
      5. Looking at all of your growth options
        1. Grow internally
        2. Find investors
        3. Franchise
          1. Business opportunity
          2. Licensing
  2. 2. Meet with a Franchise Consultant
    • Are the systems in which the consulting firm follows in developing your franchise program proven
    • How many years has the firm been in business
    • Review their client list
    • Call references
      • What work did the consulting company do for referral
      • Why did they choose to work with consulting company
    • Is there a project manager to head up your project
  3. 3. Do you really want to franchise
    • Meet face to face with consultants at their place of business for advice
    • Talk with business advisors, close friends, and family
    • Evaluate your current resources for moving forward with franchising
      • Financial
      • People
      • “The heart” or Drive
  4. 4. Moving forward with franchising
    • Hiring a consultant and finding the right company
      • Do they have a proven business system
      • Go to place of business
    • Hiring a lawyer
  5. 5. Mistakes to avoid while looking at franchising
    • Do not make assumptions
    • Do not meet with a lawyer only
      • Legal documents do not drive the business
      • All lawyers claim to be franchise specialists
    • This is not easy to do if you have never franchised a business before
    • Developing a franchise company is much different than being a franchisee