It’s not hard to franchise your business, but if you don’t know what you’re doing, you might as well be flying blindly. Let’s get to the point. First, get your house in order. Is your business really ready to be a franchise? Imagine this: Can someone who has never worked in your business before pick up the screenplay and play the lead role how to franchise? If not, start over.
Now, some people try to avoid developing a playbook. That’s a big mistake. You need operating manuals, which are like GPS for your firm, showing you where to go and where not to go. Tell all your secrets, like who your suppliers are, how to make your recipes, how to clean, and how to advertise. Don’t trust your recollection. It’s like making bread and just “eyeballing” the yeast, which is a risky thing to do.
Let’s discuss about the law. Franchise law is more picky than a cat at dinner. Don’t be cheap. Yes, hiring a lawyer feels like throwing money into a woodchipper, but a lawsuit hurts worse. Get a Franchise Disclosure Document (that enormous stack of papers) and make sure you know the requirements for your state or country. You need a lawyer if you can’t understand the fine print.
Next up is branding. Does your name stand out or go away? You’re not simply selling things; you’re renting out the personality of your brainchild. Use trademarks to keep it safe. Imagine a copycat business opening up all over town and snatching your business. Not pleasant.
Now, determine the fees for the franchise. Time for a puzzle! It’s too expensive, and no one will buy it. If you don’t charge enough, you’ll get a lot of requests for help from new users who don’t have enough money. Look into your field. Follow your competitors (not in real life, please). People sometimes deceive about “gut feelings,” but numbers never do.
It is very important to train new franchisees. Don’t leave them hanging like socks on a clothesline in the breeze. Make training sessions, some in person and some online. People learn in all sorts of strange ways, so include movies, workbooks, and quizzes. Make them laugh and make them think. Make sure they leave ready, not scared.
Support is important. Don’t think of yourself as a landlord who is far away. Instead, think of yourself as a franchise parent. Pick up the phone. Go to places. Share what you know. Don’t leave trash behind. But here’s the catch: set limits. If you become an unpaid agony aunt for every problem, you’ll get tired of it faster than cheap candles.
Next is marketing. Share resources. A powerful marketing fund makes your brand stand out like a full moon. But make sure you know where every penny goes. Franchisees don’t like surprises, even on their birthday.
Choose your mates carefully. Not everyone who applies is a good fit. Some are lone wolves, while others are dependent puppies. Talk to them, investigate their backgrounds, and call their references. If your gut tells you to run, do it.
Refine as you become older. The first year will be hard. That’s what you need to do. Get input from franchisees. Make changes to processes. Change the training. The best systems change throughout time, often in strange ways, but typically to become more efficient.
Franchising can help you grow, but it’s not a magic bullet. If you’re ready for a lot of noise and fun, go ahead. If you want peace and quiet, keep your business nearby. In either case, be genuinely interested in each stage. Every day is different. Get ready to bat!