How to Franchise My Business – A Q&A Approach
Since successfully funding and helping to launch Pet Wants Franchise System – which sold five franchises within two weeks of launch – Franchise Funding Group has received a slew of phone calls from others who want to know how to franchise their businesses with Franchise Funding Group. To help provide quick clarity to what we do and how we do it, we pulled together some of the most frequently asked questions and our answers.
Q: What is the Franchise Funding Group?
A: We are like the show Shark Tank but focused 100 percent on funding companies that wish to expand through the franchise business model. The Franchise Funding Group is led by our Advisory Board, a specialized group of proven franchise executives and investors. We are not consultants and we do NOT charge any fees; we are investors and strategic partners. We provide franchising expertise and financial backing to a select number of entrepreneurs to expand their businesses on a national scale through a franchising model. In short, we are THE answer to: How do I franchise my business? Who can help me franchise my company? Who can help me fund my franchise expansion? Where can I find a franchise development partner with real “skin in the game?”
Q: Why are you offering this service?
A: We love what we do! Sharing our collective franchising expertise and track record of success is our way of giving back and making a difference in the lives of others. We have been very fortunate to enjoy long-term success and fulfillment with our multitude of franchise businesses and want to help others achieve similar results. This is a powerful national platform for us to leverage our talents and expertise while helping to strengthen the American dream and the small business community.
Q: What kind of candidates are you looking for?
A: We will consider all business concepts, but we are definitely looking for energetic entrepreneurs who have an exciting concept with national, if not international, appeal. We are especially interested in service businesses that enrich and take care of everything from homes (inside and out) and automobiles to children, aging parents, pets, personal health and well-being. Typically, we do NOT fund restaurants and hotels. Ideally, we like companies to be with a five-hour drive from Cincinnati, Ohio so we can establish strong, long-term, face-to-face relationships. We do make exceptions for the right entrepreneur who has strong operating systems in place and requires fewer face-to-face meetings. To begin a discussion with the Franchise Funding Group, the starting point is our simple, no-obligation, 10-minute questionnaire.
Q: What investment is required to work with the Franchise Funding Group?
A: We are not consultants. We are your strategic and financial partners. We require no upfront fees to partner with us. In fact, we invest up to $150,000 in services (strategy, training, marketing, systems development), legal advisers, marketing collateral, nationwide advertising and publicity for your franchise system, as well as invest our own money in you and your business. We are your true partners and advisers who are invested in YOUR franchise system’s development, growth and success. We take on risks and have “real skin in the game.” In return for our financial backing, we require a 25 percent equity stake in the new franchising entity. But make no mistake, you become the franchisor, you are in charge, you make all final decisions. We your strategic investors, advisors and guides.
Q: Will I still be the sole owner of my company?
A: Yes. You will keep 100 percent of your existing business and 75 percent of the new franchise system. You will make all decisions for your current business and your franchise system. As your seed investor and strategic adviser, we will continually guide you, sharing only in the success of the franchising system we help you create. We will require a 10 percent management fee on the total revenue generated by the new company for ongoing guidance and to recoup our initial investment in your company.
Q: What benefits will I receive in return for The Franchise Accelerator's minority stake in my new franchise company?
A: You will receive up to $150,000 worth of services and funding in launching your franchise system in addition to ongoing guidance, strategy and development for the franchise system as well as sales and operations training for you and your team. We will help guide you to build necessary systems and back-office franchise sales and support structures. We will help you develop the initial franchise marketing brochures, publicity, advertising campaigns and social media campaigns to drive franchise buyers to your concept. We'll give you access to legal advisers at significantly discounted rates and regular face-to-face advisory sessions with members of the FFG executive team and their staff. For a full listing of benefits you'll receive, click here.
Q: Will my business have to re-locate to Cincinnati, OH?
A: No. We don’t require our chosen candidates to relocate. You continue to own and run your existing business as well as your franchise system, operating it from your home town.
Again, if you have any interest in beginning a dialogue with us, you must fill out our simple, 10-minute, no-obligation questionnaire: http://www.franchisefundinggroup.com/#!request-funding/c3g8