Let’s face it…some ideas work well in isolation but has your concept got any more legs than that? Not every business can but if it is, then you’ll want to make sure you do it right from the very start.
I’m talking about franchising.
We have a lot of people come to us about franchising. That’s not a surprise considering the agency’s experience and in particular, Tony’s vast knowledge of the subject.
What is surprising however, is both the number of people that have no idea what is involved in building a franchise and the number of people that are sitting on a franchise opportunity but do nothing about it!
In basic terms, a franchise only has one thing to sell. It’s not a product, it’s not an idea, it’s not even its brand or marketing collateral (although all of these things help!)…it’s a system.
This is why an organisation like McDonalds does so well. They have tight systems that have been proven and tested. Every day they are looking at ways to improve productivity to increase product and customer satisfaction in terms of quality and speed.
Obviously the extension of that in terms of marketing is crucial in the sense that unless you have a dedicated marketing and promotional plan along with a strong brand that can carry the franchise, then it will fail.
Ground work is the key as is doing the hard yards at the start.
Your first business will always be your testing ground and it’s vital that you get both your internal and external operations and positioning correct so that when it comes time to franchise you have a real saleable item.
A franchise is a highly profitable business model for both franchisee and franchisor. With marketing and promotions being spread over a wider distance and grouped activity essentially giving you more bang for your buck with each additional operation, it’s easy to see why people both build and buy a franchise.
So if you’ve got a business you think is worth taking to the next level…
… why aren’t you?
It’s not an easy process by any measure and it takes some serious consideration and capital but with guidance from professionals that have ‘been there, done that’ it can be a whole lot easier.
There’s a land of opportunity out there and with falling lease prices and many people looking for jobs, it’s not the worst time to be looking at how you can capitalise on the current market.
So…what are you waiting for??