How to franchise a new business?
Franchising a business is about replicating an already successful business method and transferring these skills, knowledge and branding to effectively replicate the existing business model and reduced risk, is that’s the case then how to franchise a new business?
When you have a new business you do not have a proven method so why would you wish to franchise a new business? Well you could have several legimate reasons that you need to launch a franchise of a new business including;
- Existing brand – Let’s say you are supplying a new unique product and have been granted the rights from the manufacture to distribute these through a licence or franchise business, maybe via a Master Franchise Licence. The business is successful, a proven business and/or product but just new to this market.
- Time sensitivity – You could have an technology or product that is compeltely unique and despite IP laws could be replicated, perhaps even franchised so you need to launch ASAP to recruit and secure as much market share as possible.
These are just a couple of many reasons why you coiuld consider franchising a new business. To book a free consultation regarding how to franchise a new business with one of our franchise experts please complete the form below