When reviewing your strong and thriving book of business, you may decide it’s time to expand. But how do you go about it? Opening new locations is a lot of work and requires time and energy to do it right. Luckily, you have the top franchise development consulting firm at your disposal: Accurate Franchising, Inc.!
Many business owners are turning to franchising as a means of expansion. It’s a big step, but Accurate Franchising, Inc. is there for you every step of the way. With our franchise consulting company, you’ll see how our valuable services make the results more than worth it.
We’ll provide you with the tools and resources to achieve a more sound economic expansion. In turn, you’ll see a stronger, more dedicated team under the guidance of franchise owners as opposed to managers. And best of all, your brand will have a greater potential for growth without you having to manage each location, as you’ll have a team focused on making your brand the best it can be.
Our Approach for How to Franchise a Business
Accurate Franchising, Inc. takes a five-step approach to turn your business into a franchise. Our streamlined process usually takes four months to complete, at which time your business will be a turnkey franchise system.
We take the time to get to know you, your business, and your goals. Before we begin our five-step approach, we ask that you take several factors into consideration. During our initial assessment, you’ll have the opportunity to weigh all features of your business to determine if franchising is a viable option for your business. We’re happy to assist you with our free franchise feasibility consultation.
If franchising is a reasonable next step to expand your business, we’ll start developing the necessary infrastructure to transition from a single location to a franchise. In the franchise development phase, we’ll create a plan that includes:
- Designing corporate imagery
- Strengthening your company’s branding
- Ensuring your rights to your intellectual property
- Creating a franchise business plan
- Producing training programs, operations manuals, and materials
- Making financial projections
- Obtaining franchise lawyers
Finally, we’ll execute the franchise plan. We’ll be there for you every step of the way along your journey to help you achieve your business growth goals, including marketing and sales to recruit franchise owners.
Once you’ve decided it’s time to expand by franchising your business, here’s how we can help make your dream a reality. Let’s take a look at each step in the process.
Step 1. Form a Comprehensive Strategic Business Plan
The first step in our approach is to form a comprehensive strategic business plan. We’ll complete a competitive analysis inside and outside the franchise industry while reviewing your franchise concept. We’ll cover royalty percentages, investment ranges, franchise fees, and more as we develop your franchise system.
We’ll also look at ideal franchisee profiles and identify traits that make for a successful owner. We’ll review your franchise sales goals, planning a year-by-year projection for your franchise sales, target markets, five-year proforma for franchisees, and a separate proforma for you as a franchisor.
This level of strategic planning is conducted with top executives at your company. Each of our departments works with you to develop your franchise system.
Step 2. Put Together Legal Documents
In step two, we’ll construct the necessary legal documents to make your business a franchise. Our expert team will assemble your Franchise Disclosure Document (FDD), franchise agreement, and more while providing you with training on how to answer commonly asked questions when it comes to the FDD. Our goal is to provide you with the knowledge to be well-versed in your FDD.
Step 3. Compile an Operations Manual
Step three involves our assembling your operations manual. This all-important step-by-step guide will teach your franchisees how to run their business by providing an industry overview that covers the how-tos of starting their business, including best practices in accounting and bookkeeping, safety and compliance, operations, and more. This provides a great reference resource for franchisees as they move forward.
Step 4. Develop a Marketing Plan
During step four, we’ll develop four key marketing strategies that involve your franchise marketing plan, franchise brochure, sales pitch deck, and franchise landing page off your website domain.
Step 5. Organize Post-Development Sales and Marketing
The final step of our approach is determining post-development sales and marketing. We’ll develop a specific set of franchise sales goals, setting realistic franchise goals for the first five years, as well as a lead generation budget. During this step, we’ll also coordinate real estate and financing options. You’ll have the opportunity to turn over real estate development to the expert franchise consultants at Accurate Franchising, Inc., where we can handle everything from site selection, lease negotiations, coordinating build-out, and more, should you like, as part of your franchise development package.
Let our franchise development consulting firm help you take the brand you’ve spent years establishing and expand it into a trusted, recognizable business with many locations.
Curious to learn more about why you should franchise with Accurate Franchising, Inc.? Contact us today!