How to Franchise

Franchising can be a big job. For one a business owner has to be able to take time away from their business and it's core operations to get into another business. Franchising is a completely new business for most business owners, the product becomes the business itself, the sales process is typically longer, the customer base is definitely different. A lot of preparation and detailed planning needs to be done in order for a company to make this transition successful.

It is important to do several things in order to get into the franchise business and start a successful franchise organization. For one, work with experts. Work with people who have done this before and have run successful franchise organizations. They know how to go through the phases you will be going through when taking this big step. Have a clearly defined system. How do you know if you have that system? Well, if you can leave your business for a couple of days of vacation or business and it doesn't fall apart, you probably have somewhat of a system. How much documentation do you have? Is the business consistent....or do you feel dependent on one or two employees? These are basic ways for a business owner to determine whether they have some kind of an operating model that would allow them to expand through franchising. Be a Leader and a Great Mentor. Some business owners and entrepreneurs are amazing leaders, they are charismatic and charming, people just want to be around them. While other business owners are more "doers", they just get things done and don't really care if anyone is following. To successfully franchise you must be a great leader and mentor to others, that's what a franchisee buys into for their franchise fee!

The most successful franchise companies are businesses who have followed these basic ground rules and have had the capital and intensity to match their expansion desires.