Looking to Expand Nationally? Ask Yourself these Five Questions.
April 13, 2015
If you’ve been considering expanding your small business across the country, then you’re facing a life-changing and business-changing decision. When you turn your business into a franchise, you also change from business owner to a franchisor. As a franchisor, you are responsible for perfecting and properly documenting all your operation systems; complying with all federal and state franchise legal requirements; recruiting, training and supporting franchise owners; and so much more. You go from a business owner in a few locations to a business replicator in hundreds or thousands of locations.
So entrepreneur, before you make that big decision to franchise (or grow your existing franchise nationally), here are five questions you need to ask yourself:
WHAT kind of expansion do you want for yourself and your business? Get clarity on what you want and how you want it. There are multiple ways to expand. Do you only want regional expansion or national expansion? If you want national expansion, is your business concept something that can be duplicated successfully around the country? If the answer is yes, then ask yourself WHY franchising is what you want.
WHY do you want to expand through franchising? You must have a strong and compelling WHY. The purpose, reason and motivation for growing your business must be strong. This is not something to take lightly. And it can’t just be about making more money. It must be a strong mission that makes a difference and serves a real need. You have to engage your heart and passion to provide you with sustaining energy, even on the down days. Taking your business nationwide is an involved and challenging process, so it’s not a journey for the faint of heart. You must be truly committed to go down this path. You must have a strong WHY and clear MISSION.
WHY NOT expand through franchising? What has held you back to date? Has timing been wrong until now? Have you been perfecting your systems and results? Or, have you just been making excuses? Be honest with why you have NOT expanded already. Knowing what has held you back before is critical so you can move forward NOW. Has it been you, your mindset, or your fears? Has it been the lack of franchising expertise? All the legal documents and regulations? Not having a proven franchise development path to follow? Lack of funding? If these are the things that are holding you back, then that’s where Franchise Funding Group comes in. Our 30-year track record of franchising success, our proven process, our critical services and funding, and our reputation for growing successful franchise systems means you can embark on YOUR franchising journey with confidence that you have a strong partner committed to your success.
WHAT is your strategy? Now that you’ve decided to turn your company into a franchise, how are you going to make your dream a reality? Are you going to do it yourself? Hire a franchise consultant for $100,000 or more? Just hire an attorney to get your legal documents in order? Unless you have a background in marketing and franchising, you’re going to also want someone who can help you with business promotion, franchise marketing, franchisee recruitment and support, and much more. If you work with Franchise Funding Group, you’ll be partnering with true investors and strategic partners. Our services mean you can turn your business into a franchise system without all the stress of doing it yourself. We help fund up to $150,000 in critical legal and marketing services, training, mentoring, and financial support.
WHAT WILL BE YOUR FIRST STEPS? You have two main options – you can ignore your dreams and goals and go back to the status quo or you can decide to really do this. It’s about feeding your dreams and starving your fears. If you’re going to move forward with franchising, it all starts with one simple step – filling out the 5-minute, Franchise Funding Group online application. We don’t accept phone calls or end-around’s for funding requests, so getting the process underway begins with that online application. If filling out the application makes you uncomfortable or seems like a hassle, then ask yourself what you need to do to build a stronger commitment...a more powerful WHY!
The Franchise Funding Group online application can be found here: http://www.franchisefundinggroup.com/#!request-funding/c3g8.
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