As a prospective newcomer to the franchise world I have a question which may seem obvious but I would just like clarification. Why would a successful business decide to franchise it out, as opposed to setting up a network of local area managers to cover the country? Sorry if I am being very naieve!
Why franchise your business? Posted by mjj-11
A Global Franchise Forum,
Franchise Networking Platform &
Franchise Blog
Sign up today for FREE to become
a part of the fastest going business franchise network.
- Franchises For Sale in Scotland - posted by Matthew in Franchise
- 5 Things My Dad Taught Me About Business And Life - by Joel Libava The Franchise King - posted by Matthew in Business
- Involvement in franchise opportunity - posted by Detroit 52 in Ask The Experts
- bfa announces shortlist for franchisor of the year awards - posted by Matthew in Franchise
- New Product Franchise a Healthy Alternative to Energy Drinks - posted by staunchenergy.net in Franchise
- business connect franchise
I too am thinking about joining this company and am going for a meeting next week. It does...
by J NEILSON on 03.07.2009 10:04:54 am - business connect franchise
Hi Blaine, I myself have had a meeting with this company and I too am a little sceptical. However...
by P Lester on 01.07.2009 12:35:37 pm - 5 Things My Dad Taught Me About Business And Life - by Joel Libava The Franchise King
Matthew, Thank you so much for posting my article-about my dad. Now it's International! You...
by franpro on 24.06.2009 12:27:19 pm - Franchise or Training Package ?
Franchising is not an easy way to make money and get rich, it takes a lot of hard work, dedication...
by JackieHandunge on 23.06.2009 5:20:52 am - business connect franchise
hi matthew thanks for the advice i will get them to answer the questions you suggested, i...
by blaine on 15.06.2009 1:55:34 pm
Why franchise your business?
Posted by mjj-11 in Ask The Experts on 27.11.2008 7:48:11 am | 350 views
Comments
franpro on 28.11.2008 5:40:42 pmThe most important thing to know when deciding if you should franchise your business is this:
Is your business "special" enough for someone to pay to get into it. If it is, then you have answered your own question.
One more little thing. Be prepared to work harder than you ever have. really.
Joel Libava
USA
Comment edited on 28.11.2008 5:41:00 pm
Joel Libava,President
Franchise Selection Specialists Inc.
Cleveland, Ohio
franpro@sbcglobal.net
web-FranchiseSelectionSpecialists.com
Franchise Humor- FranchiseFollies.com
JT on 02.12.2008 3:58:23 pm
I agree with Joel, above - if your business has the edge, USP or whatever you wish to call it, you may want to avoid the creation of a netwrok of potential headaches (salesforce and management) by offering the "edge" as a franchise. One addition I would make, is don't make the common mistake of taking your franchisees for granted. In essence they are the lifeblood of the company and may give you the exit strategy you need at some future date. Goodwill is hard fought for but worth it. Recruit carefully, train, support, encourage, lead by example, go into the field with franchisees, live it with them.
JT
- Login | Register
- Your Account
- Edit Your Profile
- Write a New Post
- Manage Your Posts
- Messenger
- Friends
- Profile Views
- Invites
- Be part of an established Health and Safety franchiseHealth and Safety Department Ltd
Do you have proven health and safety skills? Would you like to be self-employed? Do you know what to do next? Many practitioners have high levels of health and safety skills but don’t have the...
- The Bluebird Care Franchise OpportunityBluebird Care
The fastest growing care franchise in the UK with experience in franchising and care provision you will not find elsewhere! Bluebird Care’s growth has been exceptional by any standards. From...
- Billboard Connection continues its expansion with the opening of 2 new offices in ScotlandBillboard Connection
Billboard Connection has recently opened it's first 2 Scottish offices and continues to look for motivated individuals in areas throughout the UK.
- McDonalds Franchise FeeMcDonalds Franchise
As a guide, the cost of an average restaurant is £200,000. You will need to provide at least 25% of the value as unencumbered funds, the remaining 75% can be funded through a bank loan with...
- The FIRST Mystery Shopping franchise launches in the UK!Shopper Anonymous
We are looking for individuals that have an interest in helping businesses to achieve an excellent level of service so that they can improve their operations and systems to benefit their customers...
- Be a part of the Outdoor Advertising Industry with a Billboard Connection FranchiseBillboard Connection
Billboard Connection recruiting driven individuals who are looking for a highly rewarding business opportunity. Billboard Connection can be operated from either home or an office.
- Kumon FranchiseKumon Educational
Looking for A Kumon franchise for sale? We have newly listed the Kumon franchise on our site and are actively seeking new franchisees for them. The Kumon franchise is one of the UK's...
- Shared Earth launch the very first Fair Trade franchise in the UK!Shared Earth
A unique opportunity to become part of the first Fair Trade franchising operation in the UK has recently become available. This is a highly exciting retail franchise which offers Fair Trade...
Your comment "a successful business" is highly relevant, as you cannot franchise a business unless it is successful.
There are a number of sound business reasons for franchising your business.
1. There is the ability to expand your business quicker through franchising. You can take advantage of the success of your products/services and develop new markets more effectively through your franchise network.
2. It is a more cost effective way of expanding your business as your initial investment is likely to be funded by the franchise fees. Also you would not have the recruitment and ongoing employment costs associated with a team of area managers.
3. As a franchisee is investing their money in your business they will be highly motivated to develop their franchise area and to ensure its success and early profitabilty.
Before making the decision to franchise however you need to evaluate whether your business is suitable for franchising and if so, what is the most effective development strategy.
Comment edited on 28.11.2008 12:23:16 pm
Jeremy Webster