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Know What to Expect When You Start Franchising Your Business

Let’s take a journey. Imagine for a minute that you made the decision to start franchising your business and went through the franchise development process. You are now in a position to offer franchise opportunities nationwide (very exciting)! At this point your number one priority is to ADVERTISE. You quickly begin to realize that the business of franchising is not an extension of your existing business – it is a business of its own!

As a new franchisor, your number one focus is to find the right people, so that you can award franchises (check out our article that discusses finding franchisees). What makes your franchise opportunity different?

You must be just as passionate to seek out franchise applicants as you are about operating your business. And when you work with the right company (like The Franchise Maker), you will be trained and armed with the right resources to produce your franchise marketing collateral. In addition you will be provided with numerous choices of where to advertise and market your franchise opportunity (learn about marketing your franchise opportunity).

Next is training. Your initial franchise training program will launch your new franchisee (read why training franchisees is important). As a new franchisor, you (and your team) are the only ones who know the business well enough to conduct the training. It is time to impart your knowledge! After all, it is your “know-how” that you teach, giving your franchisees a jump start in the business, saving them time, money and frustration. Your knowledge, methods, techniques and trade secrets are the main reasons why people purchase franchises (find out other reasons why people purchase franchises).

While your training needs to be well-planned and thorough, it is next to impossible to hit on everything that your new franchisee needs to know during your franchise training program. Not sure you have it all figured out? More than likely you do, and we will provide you with an entire Franchise Operations manual package (see more on the topic of the franchise operations manual). This gives you an easy-to-follow road map that allows you to disseminate your knowledge that will complement your franchise training program making it easy when training your new franchisees.

…And Mentorship
As a franchisor, mentorship is the name of the game. Your on-going leadership, support and guidance are vital parts to the success of your franchisees (read about how to help franchisees be successful). You have a vested interest in the success of all your franchisees; it is NOT a “leave them alone, sink or swim” attitude. Your availability (or someone on your team) to answer questions, provide operational and marketing support (beyond your initial franchise training program) will make a BIG difference in your relationship and their success.

Our imaginary journey is over… Back to the present. A lot to think about, right?

So ask yourself – Is this something you can see yourself doing? Are you ready for the challenge of becoming a franchisor? Call us directly at 1-877-615-5177 or send us your contact information and we will gladly talk with you about what to expect when you start franchising.