Types Of Companies We Work With
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, as more people decide to “franchise their business”.
We work with very small companies (and larger ones) in all types of businesses that have the following.
The business is successful — both financially and in terms of having it’s concept or method of operation “together”. The length of time that the business has been in operation is relatively unimportant. (Occasionally we work with clients who have a concept but no operating business. In these cases, we work with them “from scratch” and assist in the development of the prototype unit, while at the same time preparing their franchise program. After the prototype is launched and “debugged”, we make adjustments so that the franchise program comes together in a timely fashion.)
The business is in an industry or field that is expected to grow over the next several years or has a new twist if it’s in a mature field.
The business is “interesting” to a prospective buyer.
Prospective buyers, provided they have the right background and personality profile, should be able to be trained in the day-to-day operations in a reasonable period of time.
A franchise buyer should realistically be able to recover their investment within a reasonable period of time from the earnings of the business.
If a business meets these descriptions, it can usually be franchised. (A simple test of “Can I franchise my business?” is whether you could open company-owned branch units [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.) “Franchising a business” is a way to grow where franchise buyers put up the investment capital to open a business similar to yours.
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. The desire of people to own a small business gives you the opportunity to grow by franchising your business.