FRANCHISE ADVICE
Perfect model…
Is franchising the right path for your business? Here's the essential criteria for success according to Ashtons Franchise Consulting
F
ranchising presents an exciting opportunity to expand your operation and reach new markets.
However, it’s not the right fit for every business. To determine if franchising is the next step for you, evaluate these five key factors:
1. A proven track record of success Franchising relies on replicating a successful business model. Ideally, your business should have been operating for at least two years. By this time, you should have moved past the initial startup challenges and established
a solid operational system. This way (you) the business owner has already addressed and overcome various obstacles, demonstrating to potential franchisees that your business model is both effective and worth investing in.
2. The strength of your brand A strong, recognisable brand is crucial for franchising. Potential franchisees look for businesses with a compelling brand identity that resonates on a national or global scale. If your brand is heavily tied to a specific location or individual, it might need rebranding before franchising. Your brand
should be clear, universal, and convey professionalism and quality.
3. A reproducible and trainable model Your business model must be easily transferable and teachable within a reasonable timeframe. If your model requires specialised skills, your pool of potential franchisees may be limited. Evaluate your systems and processes: are they comprehensive, user-friendly, and easily executed with minimal training? A well-polished, professional business model will attract franchisees and facilitate smooth operations.
66
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116
