Do you think your business is unique? Have you considered replication through franchising? Do you have the necessary skills to use franchising as an expansion strategy? While it’s not the right strategy for everyone, for some companies the explosive potential that franchising affords is unparalleled in the world of business growth. Franchising has many attractive features, particularly when compared with more traditional methods of expansion such as opening more outlets on your own. Typically referred to as company stores, you own and operate these locations yourself. You provide the entire investment for the startup, and while you earn all the income, you are also responsible for the expenses. That’s why more and more entrepreneurs are choosing franchising as the best way to expand a great business quickly with minimal capital and risk. Here are a few reasons why:
- Franchise owners are highly motivated operators
- Franchisees assume the risk of succeeding or failing
- Franchises can open quickly, gaining an edge on the competition
- Franchisees are responsible for all hiring, leases, and unit-opening expenses, reducing your risk
- Franchisees are easily attracted because buying into a proven concept minimizes their risk
Is your business "Franchisable"? Before making the decision to franchise, you must first determine whether franchising is a viable strategy for your particular business.
BC Business Brokers, an affiliate of Sunbelt, can help you analyze your business and perhaps, take it to the next level. If you are contemplating the sale or expansion of your business and would like to discuss your options, contact our Nanaimo office at 1-877-289-0969 – we can help you. Feel free to visit our local website at http://www.bcbusinessbroker.ca/ or www.sunbeltnetwork.com/vancouverisland.
1 comment:
Yes I agree that giving franchises is one of important platforms to give boost to your revenues but for that your main business needs to be popular and successful. Isn’t it?
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