by iFranchise Group
CEO, Mark Siebert
The Ultimate How-To Guide on Franchising Your Business
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iFranchise Group CEO and expert franchise consultant Mark Siebert delivers the ultimate how-to guide to employing the greatest growth strategy ever—franchising.
Request a free copy of the whitepaper “International Expansion,” an informative piece exploring international business expansion issues and pros and cons of franchise and non-franchise systems.
Request a free copy of the whitepaper “Why This Will Be One Of The Best Years For Franchising” and see why a dramatic surge in franchising activity is expected to continue.
Do you have a successful restaurant that’s ready to grow? Franchising just may be the best fit.In dynamic (and even uncertain) economic times, restaurant franchising remains a viable expansion method; it allows a brand to grow by taking advantage of its own strengths (an established brand, supply chain resources, technology tools, exclusive procedures and processes) while leveraging the skills, time and capital of independent franchise owners to open additional units.
Money. People. Time. Generally, these are the three reasons companies franchise their restaurant.
With growth, capital is a big barrier for most restaurateurs. However, in franchising your restaurant, your costs can be lowered significantly due to the franchisee providing the initial investment in the restaurant.
As a franchisor, your investment in expansion is a significant reduction from the typical costs of opening a restaurant.
Finding and retaining reliable unit managers is another barrier many restaurateurs face. With an excessive turnover rate that can exceed 100% per year, a restaurateur can spend months recruiting and training a manager only to see that manager leave or hired by a competitor.
In franchising a restaurant, the restaurateur avoids the challenge of retaining a restaurant manager by having a highly motivated franchisee acting as that unit manager.
Opening a new unit takes time – the amount of restaurants you can open at any given time is limited.
How does franchising solve the problem of restaurants having too little time, staff and few resources? The franchisee does the heavy lifting. This allows the restaurateur both financial and resource leverage.
Most restaurants can franchise providing they meet three basic criteria:
Ready to Take the Next Step?
As you make the decision to franchise, first you must address many decisions that need to be made by a new franchisor, as they relate to:
These are only several of the most important issues. And of course, your plan should be subjected to close financial scrutiny.
Develop a franchise agreement (contract), a franchise disclosure document (as required by the FTC) and, depending on the location of franchises being sold, state registrations or filings. (*This should be ideally done by independent franchise legal counsel).
Quality control generally translates into the development of an operations manual and well-defined training programs. Your manual should contain everything on:
You will then need to develop marketing materials for franchise sales and a plan to generate franchise prospects. In brochures (such as an e-brochure) and on a dedicated website or webpages, you will need to incorporate your compelling and compliant franchise messaging. Also, due to the franchise sales process being highly regulated, you will need to be properly educated in sales, disclosure and compliance techniques.
If you decide franchising is right for your restaurant, you will soon realize that you’ve entered a completely different type of business: selling and servicing franchisees. You will also learn that the ultimate key to success in franchising is having a sound plan and strategy to bring on and support successful franchisees.
Hiring a trusted and experienced franchise consultant will help tremendously for the following reasons. You can…:
To learn more about how to franchise your restaurant, get free information, or have an expert franchise consultant contact you, please fill out the form on this page.
Currently has 500+ franchise restaurant locations in 39 states and 12 countries.
Sold 5 franchises in first year, meeting growth goals. Now has franchise agreements for nearly 150 locations.
Now has over 70 franchise locations. Started a second concept, Rapid Fired Pizza, which has 28 units.
Sold over 300 franchise restaurants. Has been acquired by Roark Capital.
Sold 50 franchised restaurants, with continued growth on the horizon.
Request a free video and info on how to franchise your business, and we will have the right franchise consultant contact you.
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“The days of cookie cutter, one-size-fits-all franchising are long past.
The iFranchise Group takes an individualized approach focused on long-term success.”
– Pat Walls, Former Director of Franchising, McAlister’s Deli (currently President & COO, Capriotti’s Sandwich Shop)