The Process of How to Franchise My Business
Knowing “how to franchise my business” can be hard. There are a number of things to take into consideration before you get started, and even more to think about once the process has begun. There are so many articles and tips about how to franchise a business, how do you know where to start?
An expert franchise consultant can help you sort through all the information and teach you how to franchise your business. At Accurate Franchising, Inc., we have identified the three phases of franchising a business.
- Phase One: Initial Assessment
- Phase Two: Franchise Development
- Phase Three: Franchise Recruitment and Sales
Phase One: Initial Assessment
During the initial assessment period, you have to ask yourself hard questions about your business. During this important phase, you will decide whether your business is a good fit for franchising and, if it is, how to franchise it.
The three questions to ask yourself are:
- Is my business franchisable?
- Is franchising the right growth strategy?
- Am I ready to become a franchisor?
Is my business franchisable?
A thriving small business is a good place to start! Your business also needs to be easily replicated in a variety of locations, appealing both to consumers and to potential franchisees.
Is franchising the right growth strategy?
Franchising is not the only way to grow your business. You will need to weigh the pros and cons of franchising before you learn how to franchise your business.
Am I ready to become a franchisor?
Being a franchisor is different from owning a small business. You will need to acquire new skills relating to franchising. Being a franchisor likely will include hiring managers and other employees that have experience with growing a franchise system.
Find out if franchising your business will be a good fit for you by scheduling a FREE Franchise Feasibility Consultation. Accurate Franchising, Inc.’s expert franchise consultants can help you determine if franchising will work for your business. From there, they will use their expertise to show you how to franchise your business, helping you along the way.
Phase Two: Franchise Development
A key part of franchising your business is developing and implementing the infrastructure necessary to transition from a single business to a franchise. The experts at AFI show you how to franchise your business, helping you along the way, by:
- Designing corporate imagery
- Strengthening your company’s branding
- Ensuring your rights to your intellectual property
- Developing a franchise strategy
- Creating a franchise business plan
- Writing operations manuals
- Producing training programs and materials
- Making financial projections
- Obtaining franchise lawyers
Phase Three: Franchise Recruitment and Sales
Once you have completed the franchise development phase, it’s time to recruit franchisees and drive sales.
Recruit Franchisees with a Franchise Marketing Plan
Developing a comprehensive and effective franchise marketing plan is the most important thing you can do as you franchise your business. Our franchise consultants lend you their expertise in developing your franchise marketing plan, helping you attract both franchisees and consumers.
Drive Sales with Effective Franchise Sales Training
Operating your business as an owner is completely different from selling your business as a franchisor. Learning franchise sales training based on our proven methods will help you in a variety of sales situations. Franchise sales methods will help you feel confident as you introduce your franchise concept, make a presentation, and close the sale.
Call us today at (888) 341-7123 to see how we can help you answer that question, “how to franchise my business.”
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