WHAT IT REALLY TAKES TO FRANCHISE YOUR BUSINESS

Franchising your business can be a smart way to grow. However, it is not simply a matter of replicating your success and giving the keys to someone. It requires preparation, organization, and letting go of some aspects of your business and, at the same time, not losing the brand. 

Here is what it takes to go down this road.

A recognizable, strong brand

When you franchise your business, you are not just selling a product or service to the consumers. It is selling them the experience of the brand. That will entail your logo, messaging, tone of voice, visual design, and even your team talking to customers.

The franchisees will be required to present that brand in a consistent manner. So, if your branding is still under development, take the time to define what your branding is, and then you can branch out.

A proven, repeatable model

To begin with, your business must not only be successful but also repeatable. Is it feasible that another person can come along, learn your systems, and still provide the same experience as yourself?

This implies that your processes need to be optimized. Processes such as staff training, inventory ordering, marketing to clients, and delivering your service or product should be documented and easy to teach. 

Franchise documents and legal foundation

Franchising is a contractual relationship. You will have to draft a Franchise Disclosure Document (FDD), a document that outlines all the information that a potential franchisee may need to know. It includes fees, support, territories, duties, and legal history, among others.

You will also have to register in some states and develop a sound franchise agreement. You need a franchise attorney at this point. This is not something to do yourself.

Training and support systems

Your franchises will need to be informed specifically on how to operate the business as you do it. That implies developing a training system that would touch on operations, marketing, customer service, and other daily systems.

It does not end at that. You should also consider support as well. Will you assist in advertising? Provide technology systems? Offer coaching or field visits? Successful franchises are not about giving the franchisee the manual and throwing him to the wolves; they are about supporting franchisees throughout their journey.

The right mindset

Franchising is not just an expansion but a change of leadership. You are shifting from being an operator to being a mentor, business owner, to brand builder. That requires trust, patience, and letting others win with your model.

You have to do the following to ensure your franchise development:

• Keep your standards intact without planning every small detail
• Care about your franchisees without being their leader
• Keep your priorities focused on the long-term value of the brand.

A key takeaway

The process of franchising your business is a risky one. However, when done with the right systems, support, and attitude, it can propel your brand to the next level. And you do not have to do it all by yourself. Franchise consulting professionals can assist you through the maze. They help you structure your franchise offering, develop operations manuals, comply with the law, and market your offering effectively.