If your business is successful and you are looking to expand, for good reason, you may be asking questions like “is my business franchisable?”, and “can my business be franchised?” To answer these questions and determine whether or not your business is ready for franchising, you should evaluate the following 5 franchisabiliy factors:
Below we discuss each factor in more detail.
Franchising is all about success and taking the business, brand, systems and know-how that have allowed you to make your business a success and duplicating these systems for your franchisee partners. Your business must be successful and must have a track record of results.
Can your business model be successfully duplicated by franchisee partners? If it can, then your business is scalable. Scalability questions to consider, include:
As a franchisor one of the primary assets that you will be licensing and conveying to your franchisees is your brand. So, your brand needs to be protected and secure. To protect your brand, you need to own and control your business and trade name and , at the most basic level, (a) register your trademark (i.e., your brand name) with the United States Patent and Trademark Office (USPTO) and (b) control the website url domain name for your brand (i.e., www.yourbrand.com). Brand protection questions to consider:
Many times the most successful franchise systems are not the ones with the best ideas, products or services, they are the ones with the best execution and commitment to building a franchise system. Whether your franchise management team will start off as a team of 1 (just you) or a team of 4, franchise success and the franchisability of your business has a lot to do with your commitment to building a franchise system. Commitment questions to consider:
Launching a franchise is like launching any new business and new businesses require the right budget and capital to grow. Shortcuts are not the answer and before franchising your business you need to understand what your franchise goals are, how quickly you want to achieve them and the right budget necessary to get you to your goals. Remember, launching your franchise system is not the finish line, it is just the start. Budget questions to consider:
In the franchise development process it’s critical to evaluate these franchisability factors and have an open and honest discussion with your franchise lawyer and franchise development team. Franchise success has so much more to do with execution, establishing the right plan of action and associating yourself with a team of trusted advisors who will help you learn franchising and elevate your business and brand.
To learn more about franchising, and if franchising is right for you read our Ultimate Guide to Franchising, and our Should you Franchise Your Business Guide. If you are ready to franchise and grow your business learn how we help franchise your business and CONTACT our team at (800) 976-4904 or by email.
Franchising may be the next big step for your business and brand. So, how do you know whether or not you should franchise your business and if franchising is right for you? The answer depends on your business, your business goals, your personal goals, your budget and where you want... read more
In this guide you’ll learn the basics of franchising, how to franchise your business, and how to win at franchising. We’ll also take a deeper dive into legal requirements for franchising and why they matter, steps to take before and after you launch your franchise, and even some tips on... read more
When considering expanding a business both franchising and licensing are possible options. In this guide, you'll learn the differences of franchising and licensing and understand how each will affect you. read more
Are you a successful business owner? Are you looking for ways to expand your business? If so, this article will provide the answers you need to decide whether franchising your business is the right step for you. In short, franchising allows you, the franchisor, to create a relationship among several... read more
Under federal law, prior offering or selling a franchise in any state, franchisors are required to disclose a franchise disclosure document (FDD) to their prospective franchisees. In addition to federal law certain states, including the franchise registration states, require that franchisors register their FDD with the state. The legal documentation... read more
If your business is successful and you are looking to expand, for good reason, you may be asking questions like “is my business franchisable?”, and “can my business be franchised?” To answer these questions and determine whether or not your business is ready for franchising, you should evaluate the following... read more
Key strategies to accelerate franchise growth for startup and emerging franchisors In this webinar, franchise attorney Charles Internicola and Nick Powills, founder of No Limit Agency and 1851 Franchise, discuss key strategies to accelerate franchise growth through PR and digital media. Some topics include: Steps franchisors should take when it... read more
One of the biggest issues for emerging franchisors is not having a plan for insurance and system-wide protection. What do emerging brands need to know when they're starting off, who should they rely on, and how can they plan ahead? Get an insurance game plan to protect your franchise system... read more
Key strategies for developing the right logo & trade dress to drive franchise growth with branding and design expert Dan Antonelli. Dan is the author of ‘Building a Big Small Business Brand’ and is the creative director of the branding firm KickCharge Creative. Learn how to drive franchise growth and... read more
With services to make your growth strategy simple, cost effective, and with a team excited to help you, let’s talk about how we can help grow your business.
Fill out the following form and we’ll contact you as soon as possible. To reach our team directly, give us a call at (800) 976-4904.
An attorney client relationship is not established by submitting this initial contact information.