Does your concept make the grade?
How to Franchise a Business
If you are exploring franchising as a means of expanding a business, it’s important to first examine whether your business concept is franchisable. This initial analysis is vital in determining if next steps should be taken to develop a franchise strategy.
Determining the franchisability of a concept requires significant analysis of the key areas of a business. The iFranchise Group has been a leader in the franchising industry for over two decades, and has worked with some of the most successful franchisors in the world (McDonald’s, ACE Hardware, and Chevron to name a few). We have consulted with hundreds of emerging and established franchisors, and were named Entrepreneur’s #1 Franchise Consulting Firm 2019 and 2020.
We have identified predictive criteria that analyzes a company’s readiness to franchise, and the likelihood of its success. For more info on this process, read our criteria for franchisability.
If your business is a good fit for franchising, a customized program can be created with your specific needs and budget in mind. Our expert franchise consultants will help with all necessary next steps, including:
- Franchise Development for New Franchise Programs
- Audits and Analyses for Existing Franchise Programs
- Strategic Business Planning for Franchise Growth
- Franchise Operations and Training Documentation
- Franchisee Recruitment Marketing Strategies
- Franchise Sales Brochures and E-Brochures
- Franchise Website Content, Design and Development
- Franchise Sales and Training Videos
- Franchise Sales Training
- Franchise Implementation Consulting and Assistance
Need more information, or have questions? Fill out the form on this page to receive free information on how to franchise, and we’ll have an expert franchise consultant contact you.
Why Franchise a Business?
Once your business concept is determined to be franchisable, why move forward with franchising? Some advantages of franchising your company include:
- You can expand your concept by leveraging franchisee capital
- You can minimize risk, which is assumed by the franchisee (staffing, location leases, business performance)
- You can open new franchises much faster than opening company-owned units
- Your franchised operations are run by motivated and fully vested franchise owners
Learn more about the advantages of franchising your business.
How to Franchise – Best Practices
Having a successful franchise system entails going above and beyond as a franchisor.
At minimum, franchisors need Franchise Legal Document (Disclosure Document and Agreement) and Operations Manuals in order to franchise. However, these best practices should be followed to ensure a franchise system’s success:
- Establish Quality Control Mechanisms for Franchisees
- Build a Solid Relationship with Suppliers
- Maintain your Franchise Brand
- Continually Improve Your Concept and System
Interested in learning more? Just fill out the form on this page, or give us a call at (708) 957-2300.