Should You Franchise Your Business?

In the last decade, franchising has expanded to include an ever-widening variety of businesses, products, and industries. Its application to new concepts and emerging industries will only increase in the future.

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The sale of franchises is relatively unaffected by the economy. In fact, arguments can be made that franchising does quite well in a weaker economy, since the potential buyer is possibly stagnating at their present position, is eager to control their own destiny, and has assets available (such as equity in a home or a severance package) which can be used to buy a franchise. This increasing desire of people to own a small business gives you the opportunity to grow by franchising your business.

A simple test of “Can I franchise my business?” is whether you could open company owned branch locations [if you so desired] managed by a company manager. In most cases, “franchising a business” is a very similar process, except that instead of a company manager, you’d have a “dedicated” manager.

Ask yourself. “Would it be desirable to have dedicated invested owners operate branch locations under my controls and standards, freeing up my time from day-to-day branch level operating headaches, and giving me time to grow the business?”

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If you wish to start franchising your business, call us. We’re here to help.

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