How to Franchise Your Business

When considering how to franchise your business, there are many aspects involved in franchising, including legal, operations, advertising, marketing, sales, training, support and communications. Understanding the entire process of developing a successful franchise operation is extremely important when evaluating franchising your business. To assist you, we’ve written a comprehensive guide concerning the franchise development process.

The “How to Franchise Your Business” Guide

Our guide includes detailed information concerning the following:

  • Determining the Best Method of Expansion

    When considering franchising a business, it is important to begin by carefully analyzing the various expansion methods.

  • Determining the Franchise Structure

    The franchise development process begins by examining the existing organizational structure of the company prior to determining the franchise business model.

  • Preparing the Franchise Disclosure Document

    Information regarding the franchise program is required to be disclosed in the Franchise Disclosure Document (“FDD”).

  • Establishing Franchise Reporting Requirements

    Franchisees may be required to provide information to the Franchisor regarding sales, financial data, income and sales tax returns, and other information specified by the Franchisor.

  • Preparing the Franchise Operations & Policies Manual

    A comprehensive “Operations & Policies Manual” is one of the most effective methods of conveying policies, procedures, and operating instructions to new Franchisees.

  • Establishing the Initial Franchise Training Program for Franchisees

    It is important to establish the initial training program for Franchisees and their manager/employees. This includes producing a training itinerary that outlines the training content, hours devoted to each topic and other related information.

  • Establishing Franchise Communication & Support Programs

    Determine the types of support services that will be provided to Franchisees during the pre-opening period and once the franchise is operational. Also consider additional support services that may be provided as the franchise network grows.

  • Establishing the Franchise Advertising & Marketing Plan

    A successful franchise advertising and marketing plan includes, but is not limited to, an advertising budget, franchise advertising and marketing programs, advertising vehicles to promote the franchise opportunity, advertising rates, and franchise advertisements.

  • Establishing the Franchise Sales Development Process

    An important step in the franchise development process is to establish appropriate franchise sales procedures for the franchise operation.

  • Qualifying Prospective Franchisees

    It is important to qualify prospective franchisees during the franchise sales process to ensure it is a good mutual fit for both the prospective franchisee and the Franchisor.

  • Franchise Grand Opening Support

    It is important to provide new Franchisees with onsite operational support and/or additional franchise training during the pre-opening and grand opening periods.

  • Ongoing Oversight & Support

    As a Franchisor, it is crucial to provide your Franchisees with ongoing operational support and advisement.

Blackboard listing considerations involved with how to franchise your business

Learn more with our detailed “How to Franchise Your Business” Guide.

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