With a strong and thriving business, it can seem only natural to want to expand. But opening new locations calls for a lot of work, time, energy, and money. In comes franchising to save the day: converting a business to a franchise has many advantages over traditional expansion efforts.
In fact, it was found that the two-year franchise success rate was about eight percent higher than the independent business success rate. Accurate Franchising Inc. can provide the resources necessary for a comprehensive and worthwhile experience.
Why Convert Your Business
There’s a lot to do when you decide you want to convert your business. There are development strategies to create or revamp; training materials, operations manuals, marketing campaigns, lead generation, and more vying for your attention; and oh yeah, running your business. It’s a lot to take on all at once!
One of the biggest roadblocks that businesses encounter when looking to expand is finding and training a well-qualified management team. By going the franchising route, you trade a manager for an owner. Franchise owners are more motivated to work hard because they made an investment and have a stake in the business’ profits. Plus, franchisees are dedicated to the process of building a strong business unit, marketing, site selection, lease negotiation, hiring and training staff, and more.
It can cost a lot of money, person-hours, and time to open multiple locations. Franchising can help you save on market expansion logistics for a growth strategy that costs considerably less.
How to Convert Your Business
Franchising is a big step. Accurate Franchising Inc. can help make your dream a reality in three phases.
In Phase One, the initial assessment can determine if it’s viable to franchise your business. You’ll have to ask yourself hard questions about your business, including:
- Is my business franchisable?
- Is franchising the right growth strategy?
- Do I know how to franchise my business?
Accurate Franchising Inc. can help with our free franchise feasibility consultation to help you determine whether you move on to Phase Two.
In Phase Two, you’ll develop the infrastructure to grow from a single business to a franchise. We’ll show you how to franchise your business through the creation of a franchise 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
In Phase Three, all of the preparation from Phase Two goes into executing your franchise plan. In conjunction with marketing and sales, your franchise plan is key to recruiting franchise owners and showing them that you have the resources and tools to help them run their businesses.
Accurate Franchising Inc. is dedicated to making the process of converting a business to a franchise a rewarding one for both franchisees and franchisors.
Contact us today to learn more about how Accurate Franchising, Inc. business consultants can take your business to the next level.