Welcome to the first of our new 7 part series. Franchising is a wild and exciting ride! Are you ready to begin the journey with us?
We understand that the idea of franchising your business can be overwhelming, complex and intense. That’s why we took over 30 years of experience and created a unique step – by- step process to guide you on the path to your success.
Research is the start of the line
If you’ve read any of our other blog posts or even our books, you will have realised that there is much to learn about Franchising before you even begin. Franchising comes with many rewards, but it’s not for everyone and it’s also not always for every business model. So, working out whether it is the right fit for you is imperative.
One thing to remember is that you are not alone. The fact is that it is overwhelming how many people ask the same questions and share the same concerns, but they also share the same ambitions and the same reasons for wanting to franchise.
Which brings us to the first part of your research task – what is your why?
What is your why?
Some of the most common reasons we hear for people wanting to franchise are:
- Expansion – they see the potential in expanding their business with a whole new perspective
- Vision – they are so proud of what they have already achieve and have a deep belief and vision that expanding will benefit so many others
- Staffing – often managing staff over multiple outlets provides many challenges. Franchising places some responsibility and incentive back on the franchisee and makes the numbers more manageable.
- Reclaiming your time – more time for you, more time for your family, more time to work on the business rather than in it
You may find that this resonated with you and you may find that you had more to add to that list and it all seems completely logical and exciting; and it is. But is it the reality, is it achievable and have you got what it takes?
Being a franchisor is a whole new exciting experience
Over the next few weeks, not only will we explore the process of what it takes to create a franchise, we will also delve into the intricacies of transitioning from business owner to franchisor. You may believe that franchising will eliminate staffing issues and given you back time only to find that you are managing a new type of staff member now referred to as a franchisee and that you have to work harder than you ever have before in areas and using skills you hadn’t even considered, building relationships on a whole new level.
Part two of our series will expand into “all about the people”. In the meantime, browse our website for other blog posts and links to our e-books ‘How to franchise my business simply’ or ‘Exposing the 10 myths of franchising’.