How to Franchise your Business - low cost, step-by-step
'How to Franchise Inc.' has launched simple to follow, step-by-step guides on exactly how to franchise your business. If you are thinking of expanding your business, this could be the simple guide that you have been looking for.
How to Franchise your business can be a difficult and daunting task. Many questions have to be answered and many documents have to be prepared in order to be ready for potential investors.
The essential element to franchising your business effectively is to have a proven, successful concept that is working well as a business already and comprehensive manuals detailing step-by-step operations of how the business works. By following the suggested steps, you will have built a solid foundation for your franchise system, which will give it the best chance of succeeding.
From the new website 'How to Franchise' we have taken a few suggested steps to follow:
1. Collect the knowledge of your business into various Franchise Operation Manuals.
2. Test the franchise model with a Pilot operation.
3. Configure the Structure and Items you want covered in your Franchise Agreement.
4. Develop a Franchise Sales Document in order to recruit potential franchisees.
5. Decide what training is required and collate the information into suitable Franchise Training Documents.
6. Decide on the Franchise Investment Cost.
7. Recruit Good Franchises.
8. Have a reliable Management and Support Staff for the Franchise Business.
9. Use online resources to assist you in the initial Franchise Document Preparations.
10. Use Franchise Consultants to help guide you through the lengthy process.
11. When you are ready, seek professional advice.
'How to Franchise' also recommends using online resources to increase your knowledge in the franchise industry. Various resources are available, including low cost franchise documents, downloadable franchise operations manuals, franchise training manuals, franchise agreement templates and online franchising advice.
The more information you have at your fingertips, the better you will understand the pros and cons of franchising. Even if you have substantial resources within the business to look at projects like franchising and no matter how well you know your business, the more information you have and the more you understand the franchise documents structure, the better your chances of success.
More detailed information and resources are available online at howtofranchise.blogspot.com