Franchising Checklist

1. Assess the feasibility of Franchising


    • Gather information
    • Attend Franchise Seminars & Webinars
    • Read books on franchising
    • Talk with a Franchise Analyst
    • Take a Franchisability Quiz
    • Looking at all of your growth options
      • Grow internally
      • Find investors
      • Franchise
        • Business opportunity
        • Licensing


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. 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. 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. 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