How do I franchise my small business?

A small business owner may ask a Franchise Consultant, how do I franchise my small business?  Franchising is often seen as a logical next step for business growth.  The dream of growing a business empire, via a franchise network as a small business owner can be tempting. And indeed the rewards of franchising a business can be a great, if you get it right.

Whether a business is large or small, the same basic rules apply to build and develop a franchise. There are many questions that need to be considered.

Areas that need to be considered particularly when franchising a small business include;

  • would the goods or services the business provides, be required by anyone, in any location?
  • are there any particular skills or qualifications needed to deliver the goods or services supplied?
  • could any individual be trained to deliver the goods or services the business supplies?
  • Is the business profitable?

Even with an experienced franchise consultant on board to advise, as a potential Franchisor you will need to ensure you have the time and resources available to build the franchise. This could be a potential pitfall for a small owner managed business that is seeking to franchise.  It is important to put plans in place before you franchise to ensure stability of the core business.

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