If you missed our webcast at the end of May, you’re in luck. Our list of 5 Reasons to Franchise is available in video and text below. Check out what’s in it for business owners to use franchising to expand.
Regardless of whether you have capital to expand or not, the franchisor will always gain a financial advantage by franchising. Your business will be using other people’s money in expansion, rather than tying up capital that can be used on other investments.
If you want to grow quickly, franchising is a great option for your business. This allows you to more aggressively expand in any region. You’ll have a group of dedicated business owners that will give their full attention to their business unit, shortening the franchisor’s list of tasks.
3. Great People
A franchise owner has a lot more at stake if they leave the business. Employees can quit relatively simply; the same can’t be said for a franchisee. Franchisees invest their money and have a lot to gain from a successful business. If they leave suddenly and improperly, they’d suffer from a major financial loss. They’re more likely to stay long-term and keep the company’s best interests in mind.
4. Distribution Channel for Products and Services
If you have the product, franchising gives you a way to distribute this product. This allows your business to expand its reach more efficiently.
5. Exit Strategy
Re-creating your business multiple times is not an easy task. Franchising makes this increasingly doable. By creating a franchise, you should be able to expand with more units and brand authority to sell for a higher price.
Check out the video below to learn more. To watch the full presentation click here.