Determining the suitability of a business for a franchise
To franchise or not is not an easy decision. You will need to consider business issues and weigh the pros and cons from an expert perspective.
Franchising as a tactic of rapid expansion has a huge potential for the development of your business. How does franchising work? The key is to create systems that can be replicated through training and support.
The characteristics that are attractive to your potential franchisee partners include:
- a good percentage of profitability.
- built on a unique or unusual concept.
- with wide geographical appeal.
- which is relatively easy to operate.
- which is relatively inexpensive to operate.
- which is easily duplicated.
A good place to start is our review of franchising. You will also be able to get information on exactly how to franchise.
Despite its impressive record, franchising is not for every business.
There is a high risk of franchising any new, unverified business. There are companies that probably shouldn't have a franchise:
- where is difficult to control from long distances.
- which requires a large number of employees.
- with complex operations.
- with low profit.
Is your small (or large) business a worthy franchise candidate?
You can quickly determine if you are ready for a franchise by completing our basic online test.
If you are ready for a franchise, our control manager will guide you through the entire process. If you are still unsure, a Topfranchise franchise analyst will discuss your business franchise with you.