Owning a thriving small business is an accomplishment in itself, but growing that business with multiple locations is an even larger goal. At AFI, we talk to business owners all the time who want to take that next step but they don’t know how. The good news? You don’t have to! We are the experts and we know just how to franchise a business. We start with a simple, three-step process that helps set you up to become a franchise success.
#1. Initial Assessment
Step one is to determine if franchising is the right fit for your business. In order to be a good fit for franchising, you’ll need to consider how well your business model can be replicated in other locations, with other owners and other clients or customers. In addition, you need to be confident that your business is currently performing well enough that a franchise location would also perform well. Finally, keep in mind that the skills you’ll need as a franchisor are different than the skills you use as a business owner. But don’t worry, if you are a good fit for franchising Accurate Franchising, Inc.’s experts will help you develop those skills.
#2. Franchise Development
In order to prepare your brand to become a franchise, you’ll need to ensure that it has the best possible chance of success. Key to that are your franchisees, who will need your guidance, training, and support at every turn in order to thrive with your brand. At AFI, we’re experts at helping business owners to prepare, and showing them how to franchise a business with these crucial development items.
A few of the important items to take care of are writing an operations manual, developing a strong training program, making financial projections, implementing support structures on an ongoing basis, and more. All of these actions can help to ensure that your franchise brand is attractive to buyers and is ready for its franchise expansion.
#3. Franchise Recruitment and Sales
Now that your business is ready to be franchised, it’s time to start finding potential buyers! Accurate Franchising, Inc. has years of experience helping to match our franchise brands with buyers, and we know what it takes to find the investors who are looking for an opportunity like yours. When you rely on our expertise, we can make the process of franchise recruitment and sales as hassle-free as possible.
Put simply, we know how to franchise a business. Let us show you!
These are just a few of the major steps involved in starting a franchise brand. If you’re ready to grow your business we have the expertise you’re looking for at Accurate Franchising. Contact us today to learn more about the process!