For business owners, franchising is a great way to rapidly expand your ‘brand’ without the burden of personally funding all the growth. Let’s face it, brick and mortar development is tough as it requires tons of capital and effort. Like most business owners, time and money are usually in very short supply and your skill sets are in operating your business not in real estate development. You have a great product, your process has been perfected, service is fantastic, customers are constantly saying that you should expand, cash flow is great and you see competition growing and stealing market share. You are constantly convincing yourself to keep life simple but there’s always that very wise quote going through your head, “In this world you’re either growing or you’re dying!” This is where franchising comes to mind. Franchising creates a path for the business owner to uphold sacred ‘brand standards’ that took years of blood, sweat and tears to create while allowing their use by others.
For franchisees, this is an opportunity to replicate proven business principles that have been market tested by a broad audience. This opportunity creates a new relationship, better yet a partnership, between the novice brand partner and the seasoned brand partner by offering a wide range of system support in an independent small business setting. There is no trial and error of systems, standards, design, branding, packaging, costs or other business factors for the franchisee to consider. Execution of the established business model is the #1 priority for the new brand partner.
Franchising is not a guarantee for success! The same business principles apply to a franchise business as they do for any other business: informed decision-making, calculated risks, hard work, time management, financial acumen and exceptional customer service. Fundamentally, a “win-win” framework between a franchisor and franchisee fuels the long-term success for everyone.
If you have ever wondered if your business has what it takes to franchise but don’t know where to start in evaluating the opportunity, you’re now in luck! Regardless of where you currently are in this process, stop, pick up the phone and call us immediately. Our certified franchise executives, combined with our in-house business modeling expertise and overall general ‘know how’ provides the total package solution for all your franchising needs. If you are an existing franchisee with a multi-unit development commitment, please view our Market Planning and Store Development Services above.
Federal law defines and shapes the act of franchising. Under the Federal Trade Commission (“FTC”) Franchise Rule, also referred to as the “Amended FTC Rule” following an amendment effective July 1, 2007
Determining a concept’s viability in being a franchise system is the first step in franchising. Prematurely offering a franchise opportunity for sale leads to both short and long-term obstacles
Franchising is a long term business relationship regulated by both federal and state law. Prior to selling a franchise opportunity, franchisors are obliged to disclose information about the company
Both the franchisor and franchisee candidates are tasked with a very important upfront evaluation process; it is a long-term relationship that both parties must assess to determine fit.
At the heart of franchising, is the concept of the franchisor significantly controlling or assisting a franchisee in their operations. As part of this process, creating and setting clear…
How a franchisor communicates and supports its franchisee community materially increases the likelihood of success for everyone. Equally, a franchisee representative who understands how to best…