Are you ready to franchise?
Just as every business is different, every franchise is different. You must develop a franchise system that reflects your needs, reflects your business and reflects the direction you want your business to take. As a concept, franchising is not difficult to understand, but the devil definitely lies in the detail and the difference between a strong franchise model and a weak one will only be evident to a trained eye – one that has worked in numerous industries and businesses and understands the details of both franchising, and managing a business for growth.
Developing a franchise requires helping you understand the complexities of franchising, designing the ideal franchise program for you and helping you successfully implement your franchise program and achieving the growth you desire.
Franchising your business requires a deep understanding of what your business does, how it works, and where it’s heading. Whilst you may want your franchise up and running tomorrow, it is important to take the time to truly consider all elements involved in franchising your business and ensure your franchise model is the best for your business – now and in the future. A good business advisor will advise you not only on what is good for your franchise, but also on what is good for your business. Most importantly, a good business advisor can help simplify any of the complex issues and help you build a profitable, protected and sustainable system. The steps involved in transforming your business into a franchise model are:
- Identifying and commencing the changes required in your business to accommodate and run a franchise business model.
- Calculating your costs of establishing and running a franchise and the revenues you require to earn a reasonable profit – now and in 5 years’ time.
- Calculating a franchisee’s costs of establishing and running an operation and the revenues they require to earn a reasonable profit.
- Developing the rules and regulations specific to you, your business and your franchise model that govern your obligations to your franchisees and what franchisees can do, and what they can’t do.
- Obtaining all necessary legal documents that, critically, reflect you and your business as discussed in steps 1 - 4.
- Preparing the guidelines that advise franchisees on how to run their business (Operations Manuals).
- Following a legally compliant franchisee recruitment process that helps:
a. ensure you get the best franchisees available
b. protect you and your business.
- Helping you and your franchisees get off to a great start and assisting them to continually improve their businesses.
Our franchise consulting team has a mandate that is simple, yet demanding: We help build great franchise systems. Profitable, protected, sustainable and saleable. This helps you make an informed decision that is best for you and helps ensure you build a great franchised business.