If you have ever wondered if your business would make a good franchise, there are several things you can do to find out if you should franchise your business. We offer a free franchise feasibility study that can help you determine how well your current business model would translate to a franchise.
What are some of the questions we use to help us know if building a franchise model is right for you?
Why Did You Start Your Business and What Makes Your Business Unique?
We start by getting to know you and your business. We want to understand what your original intentions were and why your business is something special. We also take a look at your competition.
Can Your Systems and Processes Be Duplicated?
This is arguably the most important factor in whether a business can become a franchise. If what you have been doing can easily be duplicated over and over, chances are good your business would make for a solid franchise model.
How Much Would It Cost to Franchise Your Business?
Cost is a factor because you need people to buy into your franchise. If costs are unreasonable, you are going to have a tough time getting people to become franchisees. The same is true if the expected ROI is not what it should be. We take an in-depth look at how much it would cost to start a franchise based on your business and what franchisees can expect in return.
Do You Have Capital for Investing in Franchising Your Business?
If you are still operating in the red, chances are the time is not right to franchise. We will look at what’s available and determine whether or not it will be enough to begin building a franchise.
Finally, our survey examines the various factors that affect building a franchise model from your business. Every business is different and we want to be sure franchising is right for you.
Want to learn more about how to franchise your business? Give us a call and we can discuss your franchise opportunities.