Starting a franchise is the best way to go about expanding your business without the hassle of owning multiple properties. Through franchising, franchisees have the ability to own a business, proudly displaying their proven hard work and representing what they stand for. However, in order to achieve this and foster successful franchises, finding the right real estate is important. Here are some tips for finding the right real estate so you know you are starting a franchise the right way.
Determine Your Demographic for Starting a franchise
Once you have started a franchise, you need to make sure you have a brand identity that is impenetrable. This means that every franchise gets the same business model and represents the same values that you held true with your business. With a strong brand identity, you will have a better understanding of your desired clientele and who is coming to your franchise locations. This can be determined through content marketing, persona creation, and other inbound marketing techniques.
In addition to determining the people for your ideal demographic, it is also important to research additional elements as well. This could include foot traffic, profitability in cities vs. suburbs, and other factors that can help narrow down the targeted territories for franchisees to open a franchise.
Research Franchise Registration States
Every state has the freedom to implement different registrations and fees for franchising, so researching which states have what can be an important step for finding the right real estate. When you are starting a franchise, you don’t want to run into any surprises that can put a halt on your expansion. Knowing what to expect and what to relay to the franchisee can go a long way.
In addition to fees and registrations, several states also require a Franchise Disclosure Document (FDD) that franchisees and franchisors sign acknowledging both parties agree to the terms, benefits, and more that are associated with owning the franchise. Accurate Franchising’s consultants help franchisors all across the country develop their FDD so franchisees face no surprises when they invest.
Find a Franchise Consultant to Help
Determining multiple real estate locations that are perfect for potential franchises may seem like a lot of work, but with the right consultant to help with the whole process from starting a franchise to expansion, you can trust that all potential franchisees will have a location best suited to represent you and your brand. Places like Accurate Franchising Inc. go beyond what is traditionally expected of franchise consultants in terms of commercial real estate services. They offer assistance for site selection, lease negotiation, construction management, finance consulting, marketing research, and more to make sure you have what you need to expand your brand and start your franchise.
Accurate Franchising offers leading commercial real estate brokerage to help any and all franchises find locations that are best suited for their needs to successfully expand. Through Accurate Franchising’s advanced industry insight, marketing techniques, and overall franchising knowledge from over 30 years in the industry, franchisors feel confident in Accurate Franchising’s ability to help them find the perfect real estate for franchisees and help them grow.
If you are interested in learning more information about starting a franchise and finding the right real estate, contact us today.