Is Your Business Ready To Be Franchised?
The Ten Foundations of Franchising
Determining whether it is both practical and advisable to franchise any given business requires detailed and careful analysis. Of course, FranDirect can help you with that.
To begin, however, an initial feeling for the viability of franchising your business can be found by evaluating the following ten aspects of your concept.
We call these the 10 Franchise Foundations, and evaluating your concept against these criteria is the first step on the path to franchising.
To succeed, a franchise must be:
1. Authentic.
A franchisor must offer an authentic opportunity to potential franchisees. This authenticity can come in many forms, such as an established prototype operation, a highly experienced managing body, or a brand that has gained public trust. Even the existence of a similar but competitive operation can help established the authenticity and viability of a concept. Most of all, franchisees seek concepts with the kind of credibility that one might not find with standalone startup or investment opportunities.