Why Franchise Your Business?
There is a lot of exploration to determine if your concept is the right type of business and ready to franchise. There are many advantages for an entrepreneur to become a franchisee of a concept; proof of the concept, support, and brand recognition, just to name a few. True as that may be, there are many opportunities to maximize your concept by becoming a franchisor. The advantages of a franchisor are plenty, if set up properly, it's an amazing opportunity to spread your brand, maximize revenue, and even increase the value of your existing businesses.
At the beginning of the initial Transformation Process evaluation we'll discuss the advantages in great detail. One of the main benefits of being a franchisor is being in a position to expand your brand without the outlay of your own capital or increasing your debt service. This minimizes your risk as the brand expands and creates an additional revenue stream from your franchisees by way of initial franchisee fees, training fees, and royalties. Chances are this method will allow you to increase the speed of expansion at an increased rate as well. Opening 10 units is solid growth but having 10 franchisees opening 10 units builds a brand. This will expedite the value of the actual brand as recognition becomes more widely spread.