A lawyer might say that first you must comply with franchise laws. But that’s not really the first step. To start with, Francorp recommends the formation of a business plan. Francorp will help you decide, based upon your own presence in the marketplace and the strength of competition, where to sell franchises and who to sell them to. (What is the profile of your prospective franchisee?) Francorp will also assist, based upon similar criteria, what the franchise fee and royalties will be and what percent of sales franchisees must contribute to regional or national advertising. Once a plan is formulated, Francorp will develop professionally crafted programs and materials as outlined below.
A Senior Consultant will visit the business to be franchised to review its operational characteristics and recommend policies and procedures, aimed at enhancing the franchise program. The Senior Consultant will also identify operational elements of the business critical to the legal, operations, and marketing aspects of the franchise program, and relay this information to appropriate Francorp personnel.
At Francorp offices, a Senior Consultant will review and recommend policies and procedures aimed at enhancing the franchise program.
Francorp will make recommendations relating to the critical business decisions that become the foundation of the franchise program and that are incorporated into the legal, operations, and marketing documents and strategies. These issues include policy formulation, market potential, speed of expansion, the franchise structure best suited to the Client’s situation, and current company resources available to meet franchise goals.
Francorp will review the Client’s revenue options and recommend appropriate revenue sources that may contribute to the Client’s income and profits. Among the available revenue sources are the following: