Whether or not to franchise isn’t an easy decision. You’ll need to consider the business issues and weigh the pros and cons from an informed perspective. Franchising as a rapid expansion tactic is one of several options you should consider for it’s tremendous potential to grow your business quickly. How does franchising work? The key is in the creation of systems which can be duplicated through training and support. Other characteristics attractive to potential franchisees include businesses:
A good place to start is our overview of franchising. You may also access information on how to franchise.
There is high risk in franchising any new, unproven business. Established companies that should probably not franchise include businesses:
You can quickly assess whether you are ready to franchise by taking our basic online quiz. Or, you can download our comprehensive worksheet and determine your company’s franchisability for yourself at your convenience. If you’re ready to franchise, our checklist will guide you through the process. If you’re still not sure, a Francorp Franchise Analyst will discuss with you the franchisability of your business.