Transforming a successful business model into a franchise is not for everyone and running a profitable organisation does not necessarily mean that it can be franchised. However, if the right mix of dedication, determination and discipline is applied to adapting an already successful business, the company can grow from strength to strength. An entrepreneurial spirit and heaps of patience are definite musts.
I recently launched a franchise scheme for my recruitment business to keep up with the growing demand of our specialist services and we’ve already completed the first stage of training for our first franchisee, with further franchisees in the wings.
The great thing about launching a franchise is that you already have the experience of putting together a business plan, the sourcing of funds and general set-up of a business. However, there’ll be plenty more obstacles in the lead up to the launch of a franchise, and certainly challenges during the signing and setting up of franchisees. Through my experience, I would advise researching until you’re an expert and plan ahead until you know the scheme like the back of your hand.
We’ll talk more about finding your forte, knowledge gathering, training and many other things related to franchise world in upcoming articles.
About Beatrice Bartlay
A regularly published author of business articles.
You Tube Educator https://www.youtube.com/channel/UCUYsl3qSSjYJzWAnoJa1G7Q