Several years into your business, you may feel at the top of your game. As you seek opportunities for growth, the topic of franchising may cross your mind. Though the idea seems like the right direction for your company, you likely have numerous questions and concerns before starting the process.

With FranSource, you gain an all-encompassing partner, a dynamic resource that can help you determine if franchising is the right expansion method for your business. Our team of experienced franchise development specialists will help you navigate every unknown and feel confident the future of your business is in good hands.

What are Your Long-Term Goals?

It might seem obvious to some, but the question of franchising starts with your long-term business goals. Where do you want to take your operation in five years? Are you looking to grow into a national brand?

These types of questions are important to consider before starting the franchising process. Though franchising might seem like a manageable method for growth, its success is dependent on your true motivations and expectations. For business owners only looking to open one more location or hoping to maintain a hands-on oversight approach, a franchise network may not be necessary. However, if you’re looking for exponential growth with a network of trusted partners, franchising is the perfect launch pad.

Replicable and Scalable

Once you decide to pursue franchising, the next step is to determine whether your business model can operate effectively within a franchise network. The primary characteristics we look for as franchise development specialists are whether operations are easily replicated and scalable.

Food and beverage is one of the best examples of a replicable business model. Whether it's McDonald’s, Burger King, or Chick-fil-A, each of these operations provides their franchisees with the operational procedures, recipes, sources of supplies, equipment, and training processes essential to the overall franchise brand and its services. In these ways, each restaurant location operates according to the parent company’s standards and specifications.

These same fast-food restaurants are also easily scalable. The same techniques and procedures that connect these operations to their parent companies are also what make them efficient and cost-effective to launch in nearly any geographic region.

Simply put, if your business is replicable, it’s scalable. And if it's scalable, it's replicable. The two qualities work hand-in-hand to create a successful, lasting franchise network. But what business models don’t translate well into a franchise model?

Let’s continue with the food and beverage example. While fast food restaurants are easily reproduced, a Michelin-star fine dining experience cannot be. Sourcing otherworldly ingredients, relying on the talent of a specific head chef, and meeting the exclusive criteria of a Michelin star are only some of the reasons why these operations would pose a challenge in franchising.

It’s Time to Talk

If franchising feels like the right direction for your business, then it’s time to start a conversation. FranSource is a comprehensive resource with decades of franchising experience. Whether you’re absolutely certain about this growth method or you have questions, our team stands ready to counsel you toward the best solution for your business.

Before our first introductory call, we invite you to take an inventory of your business’s franchising potential through our 15 Key Questions Franchise Quiz. This assessment will give us a better understanding of what aspects are ready for franchising and what aspects may need additional tweaks before commencing a franchise development program.

Let’s take advertising and marketing efforts as a demonstration. Your business operation may maintain successful profit margins, but relies heavily on word-of-mouth business. Part of the responsibility of a franchisor is helping franchisees “make” customers in new spaces. For locations in new areas, these audiences will not have the same familiarity with your brand. Instead, your franchisee will need an advertising and marketing strategy and related assets to drive customers through the door.

Even so, the absence of marketing and advertising materials isn’t a reason to drop the topic of franchising. FranSource will work directly with you to help fill in the gaps as you begin the process. In the case of this illustration, our team would work to help you develop a well-planned franchise marketing plan, including a brand style guide, grand opening parameters, customer personas, and more for your franchisees.

Remaining topics addressed by the questionnaire include an evaluation of your business’s profitability, longevity, ROI metrics, and brand reputation. Marketing assets, operations manuals, or any of the above topics are all ways to ensure your operation isn’t just any franchise, but a successful one. Developing these tools and structures helps guarantee your franchisees are prepared and confident to operate their franchise locations well into the future.

When you choose FranSource, you gain a franchise development partner ready to help you prepare and become a franchise business that will achieve your long-term goals. Contact us today to evaluate your readiness to franchise.