Franchising can be a fun and exciting ride, but brands need to ensure they are properly prepared before taking the leap.
You have the idea, startup your franchise concept to grow, develop and expand your brand.
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For many companies, franchising is a natural next step in the evolution of the business allowing them to expand their reach exponentially and ultimately bring in new revenue streams. The business of franchising also creates the opportunity for national brand awareness.
In many industries, launching your franchise brand can be less expensive than investing in opening a second or third unit and developing it to maturity.
A business owner must consider a number of crucial steps in order to begin the franchise process. Several important questions must first be addressed to determine whether a business is both franchise-worthy and franchise-ready.
Ask These Key Questions
A central question to ask before franchising a business is,…