Franchising

First of all, congratulations! Franchising is the most powerful method of business expansion. Although it is not without its occasional drawbacks, many business owners see franchising as an exciting and natural next step towards growing their business.

Being prepared and properly counseled as you take the leap into franchising is critical. Making simple mistakes can turn into real problems down the road. Here are a few things you should strongly consider once you decide to franchise:

Hire an Experienced Franchise Consultant

Good franchise consultants have seen it all and can spare you the anguish of reinventing the wheel. Franchising is a highly unique and specialized method of doing business. Remember, you are growing your business by partnering with other independent business owners. This requires an entirely different set of business strategies and disciplines than say, growing regional office branches with branch managers.

The proper franchise consultant can become a massive strategic and cost saving advantage for your project. Skilled franchise consultants can provide you services such as:

• Creation of operations and other franchise manuals
• Help working with your attorney and planning your franchise system
• Fielding the hundreds of questions that will come up as you move ahead
• Training you how to "Be a Franchisor"
•...and much more.

Unfortunately, the world of franchising has all but confused what a Franchise Consultant really is. Some "Franchise Consultants" are merely commissioned sales people that represent franchisors who have agreed to be a part of their menu of franchises they offer to people looking to buy a franchise. So be aware that not all franchise consultants are the same.

Here are a couple of essential questions you should ask franchise consultant candidates:

• Have you ever served as an executive of a franchisor company?
• Have you ever been a successful franchisee?
• How long have you been in the franchise industry?
• Are you a Certified Franchise Executive?
• If I hire you, will I work with you or someone else in your company?

Legal Expertise I have rarely met an attorney who does not say, "You need a Franchise Disclosure Document? Sure! I can do that!" Real estate, immigration, criminal defense, tax, even aviation attorneys have told me they can produce Franchise Disclosure Documents!

A franchise disclosure document is a highly sophisticated document that often exceeds 100+ pages with constantly changing industry nuances all regulated by the FTC. It is a regulated and critical part of your ability to franchise in the U.S. and many states have their very own unique requirements. Don't be fooled or lured by offers to do your FDD for cheap. And for those of you thinking you can download one and make your own, forget it.

What you need to complete this mission is a bona fide Franchise Attorney. For even greater efficiency ask your franchise consultant which Franchise Attorney they like to use or recommend.

Quantum Shift Making the shift from day-to-day operator to franchisor is an important change. One day you are fielding phone calls from employees calling in sick, checking in the supplier order, and making deposits, and then the next day you are discussing franchise agreements, taking minutes at franchise advisory meetings, and planning national conferences. For some the switch can be pretty difficult and in fact some simply cannot pull themselves from their business enough to support the new franchise initiative.

Learning how to reorganize and focus your efforts towards franchising takes work and planning. Your new mission becomes the support and success of your franchisees. Are you ready for a quantum shift?

Spread the Word

Now it is time to get the word out and let the world know you are franchising. Once the franchise community is aware that you are franchising, trust me, your phone will light up will daily phone calls with everything from franchise brokers to trade show companies to print publications to internet portals to skywriters. All claiming to have the most revolutionary and amazing answers to quench your thirst to sell franchises. Again, your franchise consultant can help you filter through the noise and zero in on options that not only fit your budget but also give you the most promise for return on investment.

Now Go Forth and Prosper!

For many people franchising their business is the natural and smart evolution to their successful and exciting business. Be sure to plan carefully and surround yourself with people who know what they are doing.

Franchising is an exciting business to be in. Now go forth and help others prosper!