So, you’re thinking of going the “franchise my business” way. That’s a brave step! The first thing you need to ask yourself is this: can you set up your business again? A lot of business owners get caught up in the franchise dream. They think of having more locations, more money in the bank, and maybe even seeing their brand logo in another state. But wait a second! There’s a lot to think about before we shout it from the rooftops.
First things first: your company plan. Imagine looking over someone’s shoulder and seeing them do exactly what you did. Would it work? Or does your job work like a jazz band, which is amazing, but only because you’re in charge of every note? Franchising promotes businesses that get consistent outcomes no matter who is in charge. Think of someone coming in with a screenplay and ready to follow your plan. That playbook needs to be both complete and easy to understand.
Now, let’s talk about the law. I get it, yawn. But it’s like making bread: if you don’t add yeast, your loaf will turn to stone. The whole nine yards: franchise disclosure forms, trademark filings, registration requirements, and more. There are a lot of rules, and they change from state to state or even from country to country. Don’t hide the law. People will put their money into your brand. They want answers, not puzzles.
Training—oh boy. This is where a lot of people mess up. It should be straightforward to teach your processes. No one wants to try to figure out obscure instructions written in Morse code. And what about your franchisees? They will require help not only when they first start, but also on an ongoing basis. Think about Zoom conversations, short manuals, phone check-ins, and even late-night troubleshooting sessions. Keep your channels open, since their problems become your problems.
Money talks, and the costs of starting a business follow right after. Franchising isn’t cheap. You should expect to pay for legal assistance, accountants, trademark experts, franchise advisors, and maybe even branding experts. Next comes the advertising. If people in Cincinnati don’t know who you are, you need to make some noise. This could mean using social media, radio jingles, or even having someone in a hilarious costume with a sandwich board on Main Street. Whatever catches people’s attention.
It’s easy to forget about culture, yet doing so could be dangerous. Let’s say that every Friday, your store has inside jokes and nachos. Franchisees who are hundreds of kilometers away won’t understand that unless you explain it out. Put your values on paper. Live them, breathe them, and send them on through every app and franchise packet.
One last thing: think about why you want to franchise. Growth is appealing. But sometimes, taking your time and being steady wins the race. Giving up control is what franchising is all about. If watching someone else change your formula a little makes you sweat, take a break. For now, you could choose to grow by opening company-owned branches. This is the greatest option for a control freak.
It’s a crazy ride. There is no safety net. But luck is on the side of the brave. If you really want to do this, start by being honest with yourself, writing down what you need to know, getting your wallet ready for a workout, and keeping your sense of humor. This journey isn’t easy, but the rewards? They can be as sweet as the food grandma makes.