Franchisors and Intending Franchisors could use our franchise mantra, a road map, to franchise your business. So, we have created a ‘To Do List,’ which you must have as a resource document, while you go about franchising.

Information & Basic Research:

• Attend Free FranClinic
• Speak to Franchise Analyst
• Read books on franchising
• Research the Internet on franchising a business
• Take the Franchise Quiz
• Evaluate All Expansion Options
  • Grow Internally
  • Find Investors
  • Franchise
    • Business Format Franchising
    • Dealership / Distributorship / Agency
    • Licensing

Meet with a Franchise Consultant

• Visit the Head office
• How many years has the firm been in business
• What is the knowledge and franchise experience that the proposed team has?
• Is there a project head that will take complete responsibility for your franchising and you will not be lost with the other more important clients the company is working with.
• Are there systems and processes defined to help clients get success
• Review the client list and the previous work the company has done and hence seek referrals.
• Are they really interested in franchising your business correctly? Else are looking as another client who would add to their marketing activities.
• Are they accredited to the governing franchise association?

Are you moving forward with Franchising?

• Do personalized detailed meeting with specialized franchise consultants
• Talk with your chartered accountants, business advisors, close friends, and relatives
• Make a realistic assessment of the resources you have to move forward in terms of:
  • The Capital and Finances that you have
  • The Personnel
  • The passion and energy that you have to make it happen the time
  • To roll out your franchise network or will you need to fast-track the recruitment of franchisees.
  • To attract the initial consumer and therefore, sustain the consumer vis-à-vis anticipated market changes.

However, avoid these mistakes as you set out to franchise your business:

• Do not assume ‘franchising.’
• Don’t get started with a P&L Sheet & A return on Investment document for a franchisee.
• Do not copy & paste bits and pieces from similar successful franchise models.
• Hiring Franchise Managers and Employees will only ensure that you get their perspective of franchising.
• To design the franchise agreement needs more than a lawyer.
• Never start with a lawyer, have a complete strategy in place before you even think of getting a legal consultant.
• If you have never franchised your business before, it’s not easy to do so.
• Being a Franchisee is much different than running a franchise company.