Francorp Process

Franchising Checklist
Steps to take to expand your business
Assess the feasibility of Franchising
Gather information
Attend a Franchise Seminar
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
Franchise
Business opportunity
Licensing
Meet with a Franchise Consultant
Tour the Headquarters
Are the systems in which the consulting firm follows in developing your franchise program proven
In-House vs.
Outsourced
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 the work done in house by fulltime employees
Is it clear that the communication between the employees working on your program is free from barriers like:
Not working together
Having to work communicate via phone, instead of face to face
How many times a week do the employees see each other
Working at different locations
Is there a project manager to head up your project
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
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
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