Your Next Franchisee May Already Be a Customer
One of the qualities you should seek in a new franchisee is a good understanding and enthusiasm for your business. Existing customers already believe in and support your business‚ and in many cases can be ideal candidates to become new franchisees.
Your franchise expansion will benefit more from a franchisee who has experience and dedication to your business over a franchisee who is merely looking for any business opportunity. Loyal customers are familiar with your business ideals and standards and are usually more apt to follow those standards in their own franchise locations.
As you begin developing your franchise systems with your New York franchise lawyer you should start evaluating your clientele at your existing location. Speak to your staff that interacts with customers and clients on a daily basis. They may be able to point out those who would potentially make great franchisees.
For a franchise to become successful you'll need to begin each franchise with a capable and dedicated franchisee at the helm. Long-time customers will have been around to see your business grow and evolve to the current day‚ giving them a better understanding of how a new franchise would also develop under your brand.
As you begin reaching out to potential new franchisees you should first have all of your terms and the structure of your franchise outlined and ready to go. Having a well prepared plan for establishing new franchises is critical to offering those opportunities to trusted individuals such as loyal customers.
By Charles Internicola January 14, 2011
Franchise ChannelWhat Our Clients Say About The Internicola Law Firm
- Business Transactions
- Buy a Franchise
- Corporate Counsel
- Firm News
- Franchise Your Business
- Grow Your Franchise
- Intellectual Property
- Partnership Disputes
- Start a Franchise
- Do You Need to Have Multiple Locations to Franchise Your Business?
- Don’t Hire a Franchise Consultant if you see these Warning Signs!
- When is the Right Time to Franchise Your Business?
- How to Improve Your FDD Item 19 Financial Performance Representations in 2021 and Beyond (With COVID Impact)
- Should You Create an Education and Training Business Instead of Franchising?