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Franchising Checklist

1. Assess the feasibility of Franchising

  • Gather information

- Attend Franchise Seminars & Webinars

- Read books on franchising

- Talk with a Franchise Analyst

- Take a Franchisability Quiz

- Looking at all of your growth options

- Grow internally

- Find investors

- Franchise

- Franchise

- Business opportunity

- Licensing

2. Meet with a Franchise Consultant

  • Tour the Headquarters

  • Are the systems in which the consulting firm follows in developing your franchise program proven - In-House vs. - Outsourced

  • How many years has the firm been in business

  • Review their client list

  • Call references - Why did they choose to work with consulting company

  • Is the work done in house by fulltime employees

  • Is it clear that the communication between the employees working on your program is free from barriers like: - Not working together - Having to work communicate via phone, instead of face to face - How many times a week do the employees see each other - Working at different locations

  • Is there a project manager to head up your project

3. Do you really want to franchise

  • Meet face to face with consultants at their place of business for advice

  • Talk with business advisors, close friends, and family

  • Evaluate your current resources for moving forward with franchising - Financial - People - “The heart” or Drive

4. Moving forward with franchising

  • Hiring a consultant and finding the right company - Do they have a proven business system - Go to place of business

  • Hiring a lawyer

5. Mistakes to avoid while looking at franchising

  • Do not make assumptions

  • Do not meet with a lawyer only - Legal documents do not drive the business - All lawyers claim to be franchise specialists

  • This is not easy to do if you have never franchised a business before

  • Developing a franchise company is much different than being a franchisee



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