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SHOULD YOU FRANCHISE?
Franchising is not right for everyone, nor is it right for every business model. You must honestly address three key categories before embarking on the process.
The Owner:
- Do you have a passion for your business?
- Are you committed to national expansion?
- Will you devote yourself 100% to this project?
- Are you comfortably capitalized?
- Is your management team sound?
The Business:
- Is your concept original?
- Do you have an operational pilot?
- Is the business profitable?
- Are documented systems in place?
- Is the concept adaptable to different regions?
Franchisability:
- Can the business model be standardized?
- Is the business easily teachable?
- Is the franchise affordable?
- Can the name and trademark be federally registered?
- Is the targeted franchisee base broad?
Three key categories……
Fifteen key questions………
If the answer to EVERY question is not a wholehearted YES, then perhaps franchising is not the answer.
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