FRANCHISING YOUR BUSINESSAre you ready for franchising?

IS YOUR BUSINESS READY FOR FRANCHISING?

Is it possible to franchise a non-

existent business or a

seemingly sound business

purely on paper?

IS YOUR BUSINESS READY FOR FRANCHISING?

Your business should have at least

one (1) unit operating

successfully and profitably.

However, it is preferable that your business has 3 or 4 units, or a coverage

of a substantial population or

territory.

IS YOUR BUSINESS READY FOR FRANCHISING?

You should have a registerable

trademark for your business.

If you sell a product, you must register a

trademark; if you sell a service, you

register a service mark.

This is essential since your goal is to have

an identifiable brand.

IS YOUR BUSINESS READY FOR FRANCHISING?

The business should have a long-

term market potential.

Try to make a reasonable

assessment that the business

product or service will be in demand

for at least the next 5-10 years

IS YOUR BUSINESS READY FOR FRANCHISING?

The operation of the business must

be teachable.

Franchisees may have no prior

knowledge of the business. Many businesses are

not transferable to others.

IS YOUR BUSINESS READY FOR FRANCHISING?

The business owner should be sufficiently

capitalized.

Expenses for legal & consulting fees, formulation &

implementation of training programs, standard operating

manuals, and additional hiring of employees will

be incurred.

If people have been inquiring about buying a

franchise of your quality product or

service, this is a good indication of the start of a

franchisable system.

JUST HOW DO WE KNOW…

13 Steps to Franchising your Business

1. Develop a Franchise Business Plan

2. Register your Trademark/s or Service mark/s

3. Retain a Franchise Attorney

4. Prepare your information for your legal documents

5. Develop your franchise documents

6. Professionalize your identity and establish a consistent look

7. Plan your advertising strategy

8. Standardize and document your operating procedures

9. Develop a comprehensive program to train franchise managers and employees.

10. Develop a team for opening new franchise stores

11. Develop and implement a detailed plan to your franchises

12. Help franchisees with site selection

13. Support and monitor your franchisees

Criteria for Franchisee Selection

Overall Business Experience

Financial Qualification

Proven Track Record

Entrepreneurial Spirit

Agreeing with the Franchiser’s Philosophy and Values

Willingness for full-time to operations

Willingness to relocate

Successful Completion of Training

Long-Term Commitment

Understanding the Concept of Franchising

Willingness to Work with People

BUSINESS ETHICS

A business that makes nothing but

money is a poor kind of business.

- Henry Ford -

1. The most important lesson that I have learned in this class is . . .

2. I wish we dwelt more with the topic on . . .

3. This class could be improved by . . .

4. My teacher is . . .

FINAL REFLECTION

THANK YOU VERY MUCH FOR A FRUITFUL LEARNING EXPERIENCE