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Franchise terminology for franchising your business - what does franchising mean

 

IS FRANCHISING FOR YOU?

The fact is, that there are a lot of advantages to franchising a successful business. The first thing to consider then is whether you do in fact have a business and a strategy that can be duplicated over and over again. If your business can be replicated and taught to others then franchising may be your best route for expansion.

To help you decide if franchising makes sense for you, please go through the following 10 questions.

  1. Is your business profitable? Yes   No
  2. Has the business made money for a long enough period of time to predict continuing success?
    Yes   No
  3. Do you have a simplified, standardized or uniform method of doing business? Yes   No
  4. Is your method of operation teachable to a new manager within a maximum of four weeks?
    Yes   No
  5. Can a reasonably intelligent trained person operate the business? Yes   No
  6. Is the business transferable to other markets across the United States or to other countries so far as you know? Yes   No
  7. Is your business distinctive in some way that gives you a competitive advantage? Yes   No
  8. Are you comfortable working with business associates on the basis of persuasion and discussion, without being able to issue direct orders? Yes   No
  9. Is your business based upon long-term trends rather than a short-term fad or market phenomenon?
  10. Do you have a burning desire to grow your business?   Yes   No

If you honestly can answer "yes" to each of these questions, then franchising may well be in your future. Even if you are hesitant about one or two of them, go ahead and go to our Getting Started Franchise Questionnaire and we will discuss the issues together. You are welcome to contact our franchise consultants directly with any questions for a free no risk and no obligation consultation.

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