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5 Reasons to Franchise Your Business

5 Reasons to Franchise Your Business
reasons to franchise your business

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.

1. Capital

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.

2. Time-to-Market

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.

More Franchising Resources:

Is My Business Ready to Franchise? 5 Questions to Ask

4 Benefits of Franchising Your Business

Franchise Science CEO, and Franchise Growth Institute Executive Director Harry Miller has made a career of successful franchising, including both client and consulting-side perspectives. He also serves as VP Franchise Development for Persona Pizzeria, a fast-growing, fast-casual concept. Prior to founding Franchise Science and Franchise Growth Institute, Harry was Senior VP of Francorp, one of the first international franchise consulting firms, and lead consultant to some of the largest and most successful franchise concepts. Prior to these extraordinary experiences, Harry owned and managed a Radio Shack franchise, and ran multiple offices in Los Angeles for a 400 unit tax resolution company. For several years, he assisted scores of entrepreneurs across the continent in obtaining angel funding and capital investment through due diligence roles relevant to franchising. Harry credits his training in the U.S. Navy, and working on a farm in South Dakota for his discipline and unrelenting work ethic brought to each franchise engagement.

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