Are you ready to franchise?

Asking yourselves ‘Can I franchise my business?’

Before you start franchising (or any other format of expansion) you need to make sure your business is robust, proven and ready to grow. And everything you eventually put in your franchise manuals must work.

Franchising is a great way to expand but WON’T magically fix performance issues in your business.

If you face any challenges and don’t fix them BEFORE you franchise then you simply won’t be as attractive, won’t sell enough franchises, will compound issues as you grow and could end up in an expensive mess of litigation with dissatisfied franchisees.

The five essential tests of whether you can franchise are:

1. A business that is proven to be successful in an established format, with a defined system, and a distinctive name and appearance.

2. A business that is easily duplicated - which means it can be set up in enough locations to create a network of manageable and profitable proportions.

3. A business that is easily learned in a reasonable period by someone with the required knowledge, skills and attitude to fit the desired franchisee profile.

4. A business that creates enough profits to satisfy both franchisor and franchisee.

5. A business that has, or can adapt to, a culture of mutual support and trust – where the franchisor will assist appropriately qualified people to setup and run businesses as successfully as possible under a common brand and system.

We’ve created a FREE checklist (accompanied by many pages of detailed guidance), which you can download and keep below. Use it to check if you’re ready to franchise or to find out how to prepare:

Get our ‘Ready to Franchise Checklist & Guide’ (PDF) here.

You’ll be far more successful if you address any shortfalls before you start. Feel free to get in touch for our help.