The money side of franchising
Many people talk about franchising as using other peoples capital to grow your business, this is not entirely accurate.
Selling and marketing franchises. A potential franchisee has many options, there are a lot of franchised and non-franchised businesses for sale in your price bracket.
What will you need to do to start franchising?
Change your role from that of successful business owner and operator, to that of franchisor. It is a new job. It is a head office.
Potential advantages & disadvantages
The Good: A method of expansion for your brand, or product/service distribution network. Can reduce the drain on capital outlay – i.e you don’t have to establish new retail premises or fund vehicles, staff etc.
Practical issues and considerations of franchising
Would you be a good franchisor? Could you treat franchisees with respect, as business partners and deliver on promises and not try to hide your mistakes.
So you're thinking of franchising
Why? You have a successful business, or potential business concept and you think it can be replicated and operated by independents.
Buying an existing franchise business
Buying an existing franchise business is different to buying a non-franchised business, and different to simply signing a Franchise Agreement then starting a new franchise business yourself.
The Franchise Agreement
A typical Franchise Agreement can easily be 30 to 50 pages long, they are specialist and complex documents.
Is buying a franchise right for you
There are potential advantages and disadvantages that should be considered before buying into a franchise opportunity.
What is Franchising?
The right to use a business model and trade mark combined with the obligation to follow controls and standards...
How Do I Unlock the Potential of My Franchise System?
How Do I Unlock the Potential of My Franchise System?Franchising is currently in a state of flux. In particular, the recent recession has meant that a number of once successful franchise systems have encountered financial difficulties (at both a fra