Why a franchise?
Franchising is being used by more businesses and businesses than ever before. Today virtually any product or service can be distributed through franchising. Whether you have a new concept, an existing business in need of faster growth, or simply don't have the capital to expand, the question often is: “Can we afford to go slow and maybe miss the chance of a lifetime, or should we expand and risk losing the business itself?"
Franchising is a modern way to raise capital
The cost of franchising is often less than the cost of setting up even one new store. After paying the cost of the franchise program, the remaining expansion costs (and most part of the risk) are borne by the franchise companies. And since franchisors usually pay the franchisor upfront and royalties, the right strategy for selling your franchise idea can be an immediate, highly efficient, low-risk source of income. Franchising can provide capital for rapid growth, especially if you fit into any of these scenarios:
- If your business does not have capital, people or even time to create a system of company growth;
- If your business has the potential to grow faster than most corporate programs;
- If you want to complement an existing distribution system;
- If you need to improve systems through tighter controls or more motivated management.
Think you have what it takes for the franchise? The test only takes a few minutes. You may prefer to download this checklist to determine your potential as a franchisor. You can find out more about preparing your company for a franchise and about the duration of the franchise. Learn about Topfranchise's proven 20-step franchise development method that has proven successful with over two thousand of our loyal customers. Topfranchise will help you decide if franchising is the right choice for you. We have provided successful service to over 2000 very well established franchises. Talk to a Topfranchise specialist who will evaluate your concept and then evaluate your company and its goals. Franchising is not for every company, but it may be for yours.