Are you a business owner looking for ways to expand your business? Do your customers travel far distances to come to your place of business? Or, perhaps you’re simply ready to take your successful business to the next level. If any of these are true, you may want to consider franchising your business as the next step in your business growth and expansion.
Who can franchise? You can! Did you know that one in ten US based businesses are franchised? That means franchises are everywhere. In its simplest terms, franchising is the process of licensing your established systems and methodology to others. Whether your business is a restaurant, jewelry boutique, home services provider, manufacturer, janitorial service, automobile shop, distributer, sales territory, or any business in between, franchising is a viable, and potentially lucrative, business expansion option. These are a many benefits you’ll gain from a franchise business, here are some of them as you consider franchising your business:
- local and national market expansion
- local owner operators
- utilizing other people’s money to grow your brand
- expanding faster than on your own
Think of it this way – who can franchise a business better than its founder? After all, you’ve already created at least one successful business, which proves you have what it takes to build on your current success on a larger scale. You’ve also proven you can establish credibility and trust among your target audience. You’ve also shown that you know how to manage the finances of a business. Franchising lets you expand your business at a much faster rate than you can do on your own or by opening new territories or locations one at a time. As any business grows you have to learn to manage your staff and employees. This is something that successful business owners have generally figured out by the time they decide they would like to franchise their business. Finally, you’ll be able to grow your business model with much less overhead expense, less day-to-day involvement with each location, and you’ll love the increased income you’ll gain from upfront franchise fees and ongoing royalties.
Feeling overwhelmed at the prospect of franchising? Take a deep breath and let us help you understand the six steps of creating a franchise business. Those steps include:
- Taking our FREE franchise assessment and scheduling a no cost, no obligation, franchise consultation
- Finding the right consultants, advisors, and lawyers who can help you navigate the strategic, operational, legal and financial aspects of franchising
- Understanding the type of growth and expansion options which will best benefit your particular business
- Implementing a strategic marketing and lead generation
- Learning how to choose the best franchise candidates to ensure success for the franchisee and franchisor
- Putting the right systems and trainings in place to help your franchisees put their best foot forward
You’ve spent years building a successful small business. Now is the time to turn that into a successful franchise business. Finding the right franchise consultants to guide you is a smart move. Contact us today to discover how the recognized, respected professionals at Big Sky Franchise Team can guide you through the process of transforming your small business into a successful franchise. If you are contemplating expanding your business then franchising your business is an option you should be considering.