OK small business owner, how many times have you thought to yourself: “How do I franchise my business?” Franchising your business is something many successful business owners have considered, but without an experienced team to walk you through the complicated franchising process and legal minefields as well as the money to support a national expansion plan, franchising your business can seem like a pipe dream.
So, let’s help answer the “How to Franchise My Business” question! After you have perfected a proven and profitable business model with well-documented systems, there are basically three options to consider franchising your business:
1. Do it Alone: The first option for franchising your business is to do it all yourself. This is an option that works for some, but turning a business into a franchise system requires a special kind of expertise. Launching a franchise is different than opening a third or thirteenth location – and it has its own federal and state legal requirements, funding and marketing challenges, and essential training and operational support and infrastructure, to name a few hurdles to jump. As such, turning your business into a franchise on your own can be done, and you can save money doing it this way, but it can be extremely challenging, overwhelming and risky.
2. Hire a Franchise Consultant: If you’re looking to franchise your business, you’re probably also RUNNING a business of your own! So if you don’t have the time to walk through the “How to Franchise My Business” challenges on your own, you can hire a consultant to do it for you. Choose wisely. Make sure you have the money to do it right because it will not be cheap. Also keep in mind that many of these consultants are great at the initial paperwork and legal elements of franchising, but most have never designed, successfully launched, marketed, managed or supported a national franchise system, let alone several of them. Do your due diligence and examine their track record of success before selecting one, but also be warned of the ones that help with the paperwork and disappear. Many franchise consultants will typically charge six-figure fees up front with no skin in the game and nothing to lose. Make sure you select one that will function more like a strategic partner and be with you beyond just the paperwork.
3. Working with The Franchise Funding Group: If neither of the first two options seems like a good fit for you, you could answer the “How to Franchise My Business” question with the help of The Franchise Funding Group! We are unique. We are NOT consultants and we DON’T charge any fees. We are franchise system developers, investors and strategic partners and we have a 30-year successful track record of launching and growing well over a half dozen national franchise systems. We are business people – not just paperwork and legal experts – and we know what it takes to create and build a successful franchise. We have awarded thousands of franchises all over the world. Also, because we’re a partnership, we are committed to the short-term AND long-term success of your business! By working with The Franchise Funding Group, you’ll have access to up to $150,000 in financial backing, marketing, training, and on-going strategic guidance to help you navigate the minefields and take your business to the next level. See if your business is a good fit for a partnership with The Franchise Funding Group and apply for funding here: http://www.franchisefundinggroup.com/#!our-process/c1v2l.