Our franchise feasibility study can help you determine if your business is right for franchising. If you have ever dreamed of turning your existing successful business into a franchise, you are not alone. There are many business owners who believe they have something that could be duplicated.
Unfortunately, this is not always the case. Even the most successful businesses can fail when they attempt to franchise.
How do you know franchising is right for your business?
You are able to duplicate what you are doing simply and easily.
Every business owner has his or her own way of doing things. Unfortunately, there are times when whatever personal system they have in place might not work for others. If you have created a system that can be duplicated, your business is one step closer to franchising.
You are able to move from business owner to franchise owner.
Many business owners struggle to change their mindset from that of business owner alone to franchise owner. You need to be able to shift your thinking and take on a more macro-management style. You will be overseeing a lot more when franchising and you need to be sure you are ready and willing to do so.
You are confident others can have the same success as you.
This one requires a bit of objectivity. Though you might assume your business would be just as successful for others as it would be for you, it is important to consider a few things. Is there a market in other places for your products or services? Would people be willing to do what you do? These factors play a crucial role in the success of transitioning to a franchise.
If you would like to know more about franchising, our survey examines the various factors that affect building a franchise model from your business. Give us a call and we can discuss your franchise opportunities.
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