There is nothing more satisfying than seeing your entrepreneurial idea turn into a successful business. Now that your business is growing and thriving, you may be wondering what the next step is in terms of expansion. The easy answer is franchising! By turning your business into a franchise, you are opening up a whole world of possibilities. Investors can buy into your concept and spread it all across the nation — even worldwide. If you are not sure how to start a franchise from your thriving business, here is what you need to know about the process.
Find Out If Franchising Is Right for Your Business
The first step in how to start a franchise is to actually find out if franchising is the best way to go about your business expansion. We have created some helpful tools and resources that have helped business owners all over the country discover if they should turn their business into a franchise. From our franchise feasibility study to our franchise profitability calculator, we have the resources you need to take the first step to grow your business.
Reach Out for Franchising Help
If you want to expand your business successfully, it is better to enlist the help of experts that know how to do it. We have been in business for over 30 years, and our expertise has helped hundreds of businesses grow through franchising. We start by communicating with our clients to determine the best course and services that they need for their business. These services often include franchise development. This encompasses the structure of your franchise: policies and procedures, operations manuals, the franchise disclosure document, and training and support.
Once your infrastructure is established, the next phase is to make sure you have a strategy to appeal to investors. We can work with you to ensure that investors will see what makes your franchise unique over other opportunities out there. Investors are very cautious when it comes to franchises, because their investment affects their whole career. This is why we work with clients to make sure they have systems in place that ease investors’ minds and show them that your franchise is the best opportunity for them.
Grow Your Franchise
Now that you have an infrastructure and a strategy for your brand, you are ready to find franchisees. However, this is easier said then done. Instead of finding franchisees, we work hard to help franchisees find you. Our inbound marketing and lead generation strategies help bring potential candidates to your website through optimization and updated content. We also use a franchise-specific customer relationship management (CRM) system. Our CRM can help you streamline, automate, track, and improve tasks that you will have as a franchisor, as well as manage incoming leads.
Once your name is out there and people are searching for an opportunity like yours, the big thing standing in your way of actually being a franchisor is to sell a franchise unit. Our goal is to help you sell franchises, and we have just the expertise to do so. We help franchisors create a sales plan and develop realistic goals toward their franchise’s success. By being goal-oriented, you will be driven to achieve them.
We work with businesses from the very beginning of their expansion all the way until they are a successful franchise. If you are wondering how to start a franchise from your thriving business, we are here to help throughout the whole process, from developing the structure to selling your first franchise.
Find out more about how to start a franchise and why expanding through franchising is the way to go by downloading our free eBook!