This will be a quick one.
I know you won’t want to hear it, but yes – you need to prepare a business plan for franchising.
You need to think about the structure of the franchise, profile of the ideal franchisee, how to divide up the territories, review the impact on your staffing resources and your proposed franchisee support system.
When you decide to franchise your business, there are a lot of new questions that you will need to answer to make sure that you’re doing the right thing for your business. These questions will have a serious impact on you and your business. Questions like:
How will the franchise opportunity work? What is your role and what should the franchisee be responsible for?
Asking these questions will help you to establish the operating guidelines for your franchise.
(But then if you’re only after a franchisee with a chequebook and a pulse don’t bother…..it won’t work anyway.)
Franchising your business is a major business decision. You need to take the time to make sure it’s the right one.
- Euan
If you’d like to see if your business is right for Franchising, contact Euan directly.
