How do you know when you are ready for this huge step? Are you ready, is your business ready?
In my opinion you have to explore the fundamental question, what’s in it for me. If you are standing on the precipice and looking at the whole process you have to know deep down that you are doing this for the right reasons, not just to make money but to help others make money with you!
Franchising is a huge investment in time and $$ with huge potential returns. This is not for the faint hearted. You will spend thousands of dollars and hours in building “the System” your operations manuals, you need to have a successful model that others can replicate, you need facts and figures to support your claims and you need to have great agreements.
I’m going to contine this series as there is alot to cover, here is what I will be including
- The system and how important this is
- Franchisee recruitment and the pitfalls to look out for, the sales process…
- What long term franchisors have to say about their businesses now
- Some of the bestb practices in setting up a franchise
- Master License set up.
BTW, The Franchise Council of Australia has a great web site for you to explore, www.fca.org.au. for lots of great information on this subject.