FRANCHISE ADVICE
"Does the business have a recognised brand and a good trading history? Can it be duplicated in multiple locations? Can running the business be learned in a reasonable amount of time?"
Firstly, does the business have
a recognised brand and good trading history? This may not be a nationally recognised brand, but it does need to have a good local reputation in the towns in which it operates. Secondly, can the business be duplicated in multiple locations? Here we consider if there are any specific factors which make the business successful in its home town that may not exist in other territories. The franchisor must be satisfied that sufficient potential exists for expansion
prior to making the decision to launch the concept. The franchisee, as part of their due diligence, must investigate the potential in their own town or region, and be sure that there is a market locally for the product or service. Then we look at if the
business is easily learned, in a reasonable period of time. Some concepts may need only a few days training to teach their franchisees how to do what they do. Others may need weeks or months of training.
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