The first step to franchise a business is to evaluate your business model. Next, meet the legal requirements, register as a franchiser and hire specialized staff. Finally, sell your franchises.Continue Reading
Check that your business is suited to being franchised. Evaluate your business for sales and profitability. Ensure that your business concept is attractive to prospective franchisees. Conduct market research to confirm that there is demand for your business.
Register a Franchise Disclosure Document with the FTC. Learn about franchise rules in your state. Consult a franchise attorney to help you determine the legal requirements.
Consider the different aspects of your franchise such as royalty percentage and franchise fees. Come up with the terms of your franchise agreement. Detail all the important information in writing.
Complete the required legal paperwork and submit it to the FTC. Provide additional disclosure where required. Wait for your paperwork to be approved.
Employ staff members that are trained, knowledgeable and experienced in assisting franchisees. Consider hiring sales people to take care of franchise marketing.
Convince franchisees to buy your concept. Consider hiring a franchise-consulting expert to present your business to potential buyers. Attend franchise fairs to increase your chances of finding a buyer.