- On July 23, 2018
If you think it’s time to expand your brand and become a franchise business, the next steps can be confusing and challenging. Offering your business to investors as a franchise opportunity requires careful planning and a commitment to supporting your franchise partners to ensure long-term success. Our franchise consultants have put together this 10-step guide to converting your business into a franchise system in order to help you get on your way.The first step in building a successful franchise is to know what your short- and long-term goals are for your brand. Take some time to clarify how and why you want to branch out, and what you want your franchise business to look like down the road. Selecting a franchise consultant is the most important decision in franchising your business. Franchising is only learned through experience and when selecting a franchise consultant you must make sure to select one that has operated his/her own franchise system. Working with your franchise consultant, you will develop a plan on how to position your offering so that it is easily expandable. Many would-be franchise starters are so excited about the opportunity to spread their brand that they rush ahead with anyone who shows interest.