The process
Franchising is not a fast undertaking. Most projects require a minimum of six months to complete. They involve many steps and we’ll explore each one in depth with you. We’ll answer your questions and carefully guide you through the process. Here are some of the points we’ll cover in each step.
Evaluation
- What’s the best structure for my franchise?
- Should I only offer single units? What about multi-units?
- Should I offer regional franchises?
- What is my best growth strategy? Local, Regional, Countrywide, or International?
Financial Analysis
- How much can I charge for my franchise?
- What should my royalty fees be? How often should I charge them?
- Will my franchisees make money?
- What are the sources of revenue for my franchisees?
- Will I make money?
- What other sources of revenue besides royalties are available to me?
Pilot Location
- What should a typical franchised location look like?
- What is the best equipment?
- What are the best practices that should be followed?
- What modifications, if any, are needed to be made to the current business model?
- Are our assumptions correct?
Operations and Procedures Manual
- What’s the best way to convey how to open and operate the business?
- What do franchisees have to do to open a location?
- What do franchisees have to do to market their services or sell their products?
- What do franchisees have to do to run the business day in and day out?
- How do franchisees communicate with me and my staff?
- How and when do franchisees pay royalties?
Legal Compliance
- Do I need to add a trademark?
- Should I patent a process?
- I have a trademark, what else do I need?
- What should be included in the Franchise Disclosure Document?
- What should my franchise agreement look like?
- What are the regulations of the states (provinces, if in Canada) I want to go in? How do I comply?
Recruiting Plan
- Who should be my franchisees?
- Where do I find people who want to buy my franchise?
- How do I market the franchise without getting in trouble with the states and the Federal Trade Commission?
- What should my website say? Do I need any other collateral materials to send to prospects?
What process should I take prospects through? - What should I tell prospects about my franchise opportunity?
Training
- What should my training program look like?
- How many days should I train franchisees?
- Should I offer classroom training, on-the-job training or a combination of both?
- What should my training manual look like?
Franchise organization
- Who should I hire now to help me with franchise operations ? If not now, when will I need to hire someone?
- How many staff members should I have?
- What would be their duties?
- Where do I find qualified people who have experience in franchising?
The Cost
Our services are turn-key; that is, we charge an all inclusive fee that provides you with everything you need to become a franchisor. Email us at Lizette@expansionexperts.com or call us at 828.407.9641 for a free estimate.
Are you ready to franchise?
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