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Franchising is as great way to franchise your business, but to franchise successfully you should consider using expert franchise consultants. Franchising is very niche, you don't know what you don't know so using franchise consultants, that are experienced in franchising a business should make the whole process smoother & more successful
Why do I need a franchise consultant to franchise my business?
Franchising is quite niche even though it does represent a significant amount to the UK economy & employs thousands of people. Therefore few businesses, including professional advisors have limited knowledge of how to franchise a business & how to grow a franchise business. To franchise a business successfully you need to be able to transfer the skills & knowledge to another person & another geographic area. To achieve this you will need very specific franchising documentations including;
- Franchise agreement
- Franchise operations manual
- Franchise training manuals
- Franchise prospectus
Recruiting suitable franchisees is an extremely difficult task, particularly if you have no franchising experience. When you recruit franchisees you are seeking people to invest in your business as a partner. It is not like recruiting employees, the relationship dynamic is completely different, essentially it is a business marriage, which usually lasts a minimum of 5 years. Many franchise consultants will deal with the whole process of franchisee recruitment to help you find suitable candidates. Franchisee recruitment takes a lot of time & effort so this service is very useful for many new franchisors, freeing up your time to continue running your business.
Ongoing Franchising Operational Support
Franchising a business & successfully launching the franchise takes a successful proven business model, great support from franchise consultants & a lot of hard work. But that's just the start of the journey. To grow a successful franchise network is a huge task, their will be many other potential pitfalls so working with experienced franchise consultants ongoing will help you through all stages of growth.
Franchise My Business?
Franchising is not right for every business. Essentially you are creating a separate training & recruitment business. It's not the same as growing organically. Therefore franchising a business is not right for everyone. Most franchise consultants will provide a free initial consultation to discuss the pros and cons of franchise my business. This initial consultation is essential to consider if franchising your business is the right path for your business expansion.