Have you been considering franchising your business? If so, you’ve identified a great way to expand your brand without the hassle of personally overseeing the management and operations of every location. For more than 30 years, the team of experts behind Accurate Franchising have been helping grow franchise brands. Today, we’re currently serving more than 200 brands in 80 countries! You might be wondering how franchising got to be such big business. In this entry, we’ll take a quick look at some of the key periods in the history of franchising.
The Pre-Industrial Period
Did you know that the franchising concept dates back to the middle ages? It’s true! In the early days of franchising, high-ranking officials would pay for the rights to assess taxes and conduct other business from local governments. Later, entrepreneurs paid for the rights to conduct business on landowners’ private property.
These examples aren’t so different from how modern franchises operate. Instead of granting franchisees the right to operate on private property, franchisors grant them the rights to conduct business under their brand name and business model. When everything goes smoothly, this is a win-win for franchisors and franchisees alike.
The 19th and 20th Centuries
Franchising as we know it today first came about in the 19th and 20th centuries, when popular brand names sold operating rights to individuals. Perhaps the most famous example of this is McDonald’s, a franchise brand pioneered by Ray Kroc. By developing the modern franchise model, Kroc helped to expand McDonalds from a single franchise to a multinational giant.
Kroc and others like him understood that franchising had the potential to help franchisees profit by owning and operating a well-established brand. Furthermore, franchising helps brand owners expand their business more easily – when they franchise their brands, they don’t need to worry about personally paying for new leases and inventory or managing employees. This symbiotic relationship has helped to successfully grow franchise brands such as McDonalds, Texaco, Signarama, and more! Franchising your business is a great way to work toward achieving growth.
Franchising Today
Today’s franchising landscape is as rich as ever. If you’re a successful business owner, franchising is a great way to capitalize on the strong business model you’ve already developed. Accurate Franchising has been helping business owners break into the world of franchising for more than 30 years. We’re well-equipped to help you assess your business in order to determine if you’re prepared to franchise. If your business model would work well as a new franchise, we’ll provide you with the guidance and services you need in order to start franchising your business.
One key service we provide along these lines is helping you to develop a franchise disclosure document, which your franchisees will rely on to learn about the details of operating one of your franchises. We also help you to establish a strong training and support program, so that your franchisees have the tools they need to make the most of their investment. These services, among others, will help you build the solid foundation you need to start off strong as a franchisor.
Franchisors in the pre-industrial period might have had to figure things out for themselves, but with the help of Accurate Franchising, franchising your business can be simple! Contact us today to learn more about becoming a franchisor.
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