Start business franchise- Podcast #3: How to Franchise Your Business
When one asks ‘how do I start a franchise business?’, the best thing we can tell them is to get organized. If you want to franchise, you need standard equipment, you need standard rules, and you need a plan. If you are running a business and want to expand quickly, then starting a franchise might actually be the best option for you. Before you can start one, or even think about starting one, you need to ask yourself if your business can be easily replicated. What is a replicate business exactly? How does it differ from other businesses? 97% of franchises opened within the last five years are still open for business. In 2000, the median gross annual income of franchisees was in the $75,000 – $124,000 range. Many business owners dream of seeing their brand become a household name, with a network of franchisees from coast to coast or around the globe. When the right concept is franchised effectively, it can be a great expansion strategy that doesn’t require as much up-front capital as growing through company-owned units. here consultation services may be used to discuss franchise issues, review the Client’s marketing and sales performance, monitor development of the Operations Manual, refine growth objectives, or for any other services you need.