Franchise Your Business

Franchising your business is quite an undertaking from your end, but to balance out the scale of the operation there are plenty of resources that are available to allow new franchises to lift off of the ground- right from, trade shows to educational publications and industry associations. We shall be taking a look at some of the resources that are available to franchisors to spread their wings.

1. Get Experienced People Aboard: Franchise Consultant

If you don’t have the experience in opening a multi-unit business, then it wouldn’t be a wise idea to try to launch a franchising operation. There are plenty of trusted franchises consulting firms that can help in serving the purpose. Be it from helping you to brand and market to helping you to connect with franchising attorney’s and guide you through the mountain of legal paperwork and jargon.

2. Seek Out The Resources Of The International Franchise Association

This was an international organization that was set in stone in 1960, with the aim of wanting to provide education, advocate, and support close to 16,000 of its members. It is for a reason why it is the oldest and largest organization of its kind. Some of the franchise’s resources include the VetFran initiative for military veterans, the Franship mentoring program, and the FranSocial online community that helps in building connections among IFA’s members.

3. Numbers Help Paint The Picture: Data Analytics

If you don’t have a data scientist on board, then you have much to gain from various data firms that specialize in business relating to franchisees. They make use of behavioral assessment tolls to pick out and draw in potential franchisees with a particular set of qualities. They can crunch numbers and maximize everything from sales to site selection.

4. Franchising Publications

One thing that makes for successful franchise operators is the amount of information they extricate regarding the business strategies, industry trends, and the competitor’s profile. There are many franchise-related content newsletters that give you a bird’s eye view of important happenings in your business’s field of view.

5. Go To Expos And Trade Shows

   

   Franchise Consultant

These are great platforms for franchisors to learn more about their industry and at the same time network with experienced franchise operators who are looking to buy into new and interesting concepts. There are a handful of annual events that draw in a talented pool of franchisors and alike, including the Emerging Franchise Conference, the International Franchise Expo, and the Restaurant Franchising and Innovation Summit to name just a few.

6. Free Franchise Documents

The need for a franchise attorney is eminent, especially when it comes to creating a franchise document and a disclosure document. With that being said, there are many things that you can pick up on from eyeing other successful franchises set up their legal disclosure and documents. There are many online resources that feature hundreds of contracts, area development agreements, and disclosure agreements that are legally collected from big names in the sector.

If you want to widen your horizon and your learnings, then the best place to start would be the internet and read extensively. For everything else when it comes to financing your franchise business, get in touch with us at Fundrly on(877) 386-3035 or write to us at info@buildingblockcapital.com.