{"id":10333,"date":"2013-05-02T14:09:28","date_gmt":"2013-05-02T18:09:28","guid":{"rendered":"https:\/\/www2.franchisegator.com\/articles\/?p=10333"},"modified":"2022-03-18T16:09:50","modified_gmt":"2022-03-18T20:09:50","slug":"franchise-your-business-could-franchising-be-the-answer-11330","status":"publish","type":"post","link":"https:\/\/www.franchisegator.com\/articles\/franchise-your-business-could-franchising-be-the-answer-11330\/","title":{"rendered":"Franchise Your Business: Could Franchising be the Answer?"},"content":{"rendered":"

<\/em>By: Mark Siebert<\/strong>
\n<\/o_p><\/span><\/p>\n

So your company is taking off and you’re trying to figure
\nout how to expand. Could franchising be the answer?<\/span><\/p>\n

Business owners should keep several factors in mind when
\nthey are looking into the concept of franchising. There are the obvious
\nquestions one would ask of any business owner including: Is the business
\ncredible? And is there adequate differentiation from franchised competitors?<\/span><\/p>\n

But there are several other factors specific to franchising
\nthat a business owner must take into account before diving head first into
\nfranchising.  A potential franchisor should
\nbe operating a business that can be taught to a franchisee in a relatively
\nshort period of time. Likewise, that system must be documented in a manner that
\ncan easily be communicated to those franchisees. <\/span><\/p>\n

Furthermore, it’s important that the franchisor has a
\nsuccessful and refined prototype that demonstrates that its system is proven
\nand it must be adaptable, so when franchisees are awarded a franchise, the franchise
\ncan be adapted from one market to the next.<\/span><\/p>\n

Among the most important considerations are the economics of
\nthe business. It must be affordable enough so the prospective franchisees can
\npay for them, but also should reflect enough of a profit where those business
\npartners can make a living while also being able to pay royalties and any other
\nfees associated with operating your concept. If the business cannot generate
\nbetween 15 percent and 20 percent return on investment after royalties are deducted,
\nit’s going to be difficult to keep franchisees happy.  And, keeping your franchisees happy is key to
\nyour franchise success.<\/span><\/p>\n

Franchising can be a tremendously advantageous and fast
\nway of expanding a business, particularly for the entrepreneur who lacks the
\ntime, the manpower and the finances to open several company-owned locations
\nalone. It’s a growing strategy that has remained strong even during times of
\neconomic uncertainty.<\/span><\/p>\n

 So, is franchising
\nright for your business?  The experienced
\nconsultants at iFranchise Group can help you determine if franchising is the
\nbest expansion strategy given your personal goals.  iFranchise Group can help companies that are
\nconsidering franchising for the first time with strategic planning for
\ngrowth,  operations and training
\ndocumentation, franchise marketing and sales, and other vital services. For
\nfurther information, get in touch today at: www.ifranchisegroup.com<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By: Mark Siebert So your company is taking off and you’re trying to figure out how to expand. Could franchising be the answer? Business owners should keep several factors in mind when they are looking into the concept of franchising. There are the obvious questions one would ask of any business owner including: Is the business credible? … Franchise Your Business: Could Franchising be the Answer?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":10334,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-10333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-starters"],"yoast_head":"\nFranchise Your Business: Could Franchising be the Answer? - Franchising Blog<\/title>\n<meta name=\"description\" content=\"Business owners should keep several factors in mind when they are looking into the concept of franchising. 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