Franchise Expansion Solutions
If you have an existing franchise model with successful operation in place, you may think of your franchise expansion by recruiting new franchisees into your franchise system. Selecting a right franchise candidate as a franchisee for any successful concept needs proper scrutiny and investigation. As a franchise expansion strategy, an established franchisor, either have an in-house franchise sales department, or outsource finder and recruitment services. Unfortunately, effective franchise expansion or recruitment process in franchise can be one of the toughest jobs and is often an extremely expensive and time consuming.
There are a number of fundamentals to franchise expansion just as there are for any other business or venture. We have included some of the most important fundamentals for you to review.
You should think of your existing franchise expansion keeping the following in mind:
Your concept must be different than your competitors, unique so to speak, and it must be profitable.
Multiple Profitable Locations
It would be best to have multiple locations operating profitably for the prospect to review and see firsthand.
Return on Investment
ROI must be attractive with a break-even point in the near future.
Training for Franchisees
You will need to offer your franchisees the necessary training that would include hands on training as well as complete operations manuals for daily reference of operating techniques.
Capital for Expansion.
Necessary capital to invest in expansion must be available.
you have to build a management team dedicated to the success of your franchisees.
As part of our Franchise Expansion Service, we can help our Franchisor client devise a recruitment strategy to expand your franchise successfully by offering single unit, multiple-unit, development agent and master franchisees positions.
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