Ready To Franchise?

With your business in full growth mode, you may find yourself looking ahead to the future and wonder, “what’s next?”  Maybe you feel like you are getting itchy feet, ready to take on a new challenge or tackle the next hurdle to propel you into further growth.  Maybe you are ready to franchise.

In the words of Forbes, franchising is a great way to “pump up profitability.” But only if done right and at the right time: make the wrong move or act at the wrong time, and the results may be  less than desirable.

You can start by asking yourself, this simple question: “Am I ready?”

To help you find the answer, the most important thing is to do an assessment of your business and find out, is it working, and can I duplicate it?  In other words, in order for you to franchise, you need to have a successful business model in place that you can replicate and plant in the hands of someone else to successfully operate.

Put your shoes in the feet of the potential franchisee: the concept of operating a new business under an unknown business model is daunting and wrought with the potential for failure and loss of money.  But if you are buying it from someone who is confident in his/her model and has shown grand success, you would be more likely to take the leap.  As the franchisor, it is your responsibility to make an assessment so you are able to confidently make this statement of model success to your future buyer.

Not only a statement towards the success of your business model, but also, in turn, towards the profitability and success of your business as a whole.  What you are doing is successful, and now you want it to work for someone else.  But ask yourself, why is it working, and how can I ensure the replication of that?  You no doubt have company values and a deep why behind your business, but there are also probably other unique nuances within the company that really make it shine, and really set it apart from your competitors.  Dig deep, find out what those are and use them to help you assess how ready you are to franchise.

Feeling a little overwhelmed by all of this, or not really sure where to start?  Rest easy: you don’t have to do it alone.  In fact, we’d love to help you out!

Here at Diffactory, we are business people.  We know how business works and we know how people work.   We have built and sold several successful global franchises and worked with hundreds of clients to help them reach their business goals.  We want you to be the next one that we help reach success.  Connect with us today and book in for a consultation or arrange to visit us for a one-on-one session in our office.

We can’t wait to help you get started on your franchise venture!