Call Us Today! 949.282.7304|info@franchisebeacon.com

Franchising

How do I franchise my business?

How do I franchise my business?
This is the question we hear a lot, and most likely why you are on our site right now. You are wondering, “How do I franchise my business”? The majority of our site is really dedicated to showing you how to franchise your business, but we wanted to lay out, on one page, a simple answer to this question. Of course its not a simple answer, feel free to check out our book on franchising our blog posts, or why franchising makes sense.

So, in short form, here is the answer to the question “how do I franchise my business”?
Become an expert at your business.
If you are an owner operator, you likely often run your business reactively; when issues arise you react to them. Your current business is a sum total of those reactions. When it comes time to franchise your business, however, you have to proactively understand how your business runs. You have to know what situations a business owner in your field might encounter, and how to handle them. The first step when wondering how to franchise your business is to become an expert in your business.
Document Everything
When you ask, “how do I franchise my business”, what you are really asking is “how do I teach other people what I know to be successful in the space that I am in”? The simple answer to that is document everything. You should begin paying attention to what you and your employees do on an hourly, daily, weekly, and monthly basis and documenting every step. Don’t worry about the format, for now, just write it down.
Do a franchise feasibility study
You may wonder why a franchise feasibility study is so far […]

Other Articles

Our executive team are experts in franchise development, franchise marketing, and small business. As such, our writings and articles about how to franchise a business or how to run a run a successful franchise development team are often published in leading industry magazines as well as other online knowledge bases. Some of those, such as Why Become a Franchisee, can be reproduced in full. Others are basically works-for-hire, and cannot be reproduced here in full, but our readers may find them of interest, so we decided to provide one page, with a synopsis of each article and a link. All of the articles linked on this page were written for Demand Studios.

Content Marketing in Lead Generation

The world is an ever-changing place, and communication continues to morph. nowhere is this truer than in the franchise sales department.  The franchise sales process has changed from a franchisor-directed, controlled process where the prospect primarily gets the information the franchisor wants when the franchisor wants to a buyer-directed internet research process where the franchisor must fight to even stay in the loop, let alone be at the helm. This changing landscape affects the entire sales process, and future articles will address the changes to the sales process. Today, however, we will look at the changes the franchisor must make to how marketing and lead procurement is done. Not everything in the lead procurement process will change. In order to get on the prospect’s radar, franchisors must have a strong presence where people are looking when they are considering a franchise opportunity.  Online add portals and franchise shows are still a must. The question is, what happens once they notice you? How does a franchisor control the conversation in the Information Age? The answer, in part, is content marketing. Content marketing allows a franchisor to control the conversation by serving up the content that the prospect finds during their due diligence process. By using a multi-channeled approach, including an online blog, press releases, social media, email campaigns, and portal and other advertisements, the franchisor can present a favorable and coherent story of your brand.
Social Media
If your brand has a social media presence already, then your franchise development can springboard off of that. After all, your customer base is already interested in your product, you should offer them your franchise product as well. In order to use social media to properly tell your franchise story, […]

Five things to consider before franchising your business

Are you wondering how to franchise a business? Are you wondering if franchising your business is the right decision for you? Then here are five things you should consider!
1> Do you have a proven concept?
You are asking people to invest in your concept, so you better have proven it. If you have an “idea” you want to franchise, go prove it first. Do the business that you want to franchise, for at least a year, before you try to franchise it.
2>  Can your business model sustain a royalty?
Some businesses operate on low margins, and that’s ok! If you have a business that does $500K in revenue a year, and you bring 10% ($50,000) to the bottom line, and it doesn’t take up all your time, then a lot of people consider that a good business. However, if you were to franchise it, a franchisee doing the exact same numbers, but having to pay a 5% royalty back to corporate, would only be making 5%, or $25,000, to the bottom line. That’s not nearly as attractive.
3> Is your business scaleable?
Even if you have a proven, high margin concept, you still might not want to franchise. If there is something unique about you or it, it is still not fit for franchising. If you have a successful surf shop, which requires proximity to the ocean to succeed, you might be better served opening a couple of corporate stores. The same would apply to a ski and snowboard store, a boat cleaning business, or any other business that relies on proximity to the ocean, snow, desert, etc.  Additionally, if it took you years to master your craft, or if you feel like you got lucky that your […]

Top Ten Guerrilla Marketing Tactics For Retailers

You may wonder why a website that is dedicated to franchising would cover a subject like guerrilla marketing? After all, what You hear it all the time, “Guerilla Marketing”. But what is it, really? Guerilla marketing is non-traditional marketing strategies which are typically low cost, unconventional, and often are typically localized in scope. Guerilla Marketing, in short, is the life-blood of small businesses. Through the proper application of an effective Guerilla Marketing plan, every person within your local market (within 3-5 miles of your retail location) should know about your store, what differentiates you from your competition, and how to reach you.

 

There are as many ideas about Guerilla Marketing as there are small business owners, and there are a lot of books on the subject, too (I  recommend Guerrilla Marketing by Jay Conrad Levinson). Obviously, every idea isn’t good, and even good ideas don’t work in all businesses or all markets. These ideas should work in most if not all retail stores, however.

 
Sign Spinner
Sign spinners visually engage traffic as they pass by your store. They help to raise awareness of the location of your store, and what products/services you offer. Sign spinners are most effective when they are close to an intersection, but, if that is not an option for you, get them on the road closest to your location. Here are some things to think about when you use sign spinners:

Not all spinners are created equal. Some sign spinners will sit out in front of your store and hold a sign. Others will actually spin the sign, dance, and truly engage the traffic in an entertaining manner. Watch your spinner in action, and if they don’t entertain you, they won’t entertain your customers.

Dress […]