How to franchise your own business
So you want to franchise your business, have searched and spoken to several franchise consultants & wonder is it possible and how to franchise your own business?
After all you have been successful setting up & running your own business so do you really need franchise consultants to help you? The answer is yes, for the reasons below.
I am an entrepreneur with over 28 years experience running successful, small businesses. I have been a Franchisor twice, the first time I thought I know my business so I will do it myself, big mistake! The thing is you can’t really learn anywhere to be a franchise consultant or how to franchise your business, it’s trial an error and experience.
You may know you business and day to day operations but there is so much more to franchising a business than just a franchise agreement and prospectus. You need to consider how to market and how to successful recruit new franchisees, a multitude of clauses in the franchise agreement that could make or break the business long-term plus have expert knowledge on how to manage a franchise network, something as a business person employing staff I soon realised was a completely different proposition!
So to answer the question how to franchise your own business? Sure you can read blogs like this online, work with a franchise lawyer and accountant to put together agreements, projections etc but without the expert franchising knowledge, which can only be gained through experience you are very unlikely to get it right. This could be a very expensive mistake in the long run. When people say “why do I need a franchise consultant?” or “its seems expensive to franchise a business” I remember the famous Red Adair quote. “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.”
Franchising a business doesn’t have to be expensive but you do need the right advice to franchise your business. To arrange a free consultation with one of our franchise consultants please complete the form below