You’re an entrepreneur! You had a driving force to start and build a successful business venture with strong growth potential. You spent time and financial resources developing products, services, and procedures. You’ve succeeded!
However, you realize you need to promote and expand your business in other untapped markets…..or cede them to your competitors. There is no neutral for business! How fast will you expand?
You can rapidly expand by providing “co-entrepreneurs” a proven business model that provides a real benefit to their families and a quality product or service to their community. Through franchising, you teach others how to operate your successful business model while at the same time enhancing your buying power and increasing your competitiveness within your industry.
It’s Difficult Expanding From Your Profits Alone!
Net profit Margins for business typically range between a 5% and 20%, averaging around 8%. Even if your business is in the 20% range, you would need to save ALL of your profits for the next 5 years to replicate your current business and expand your brand’s location-and then only once.
Will you possibly have 1 new location after 5 years or
will you franchise and have many?
Only you can decide how quickly you want to expand your business.
Franchising your business is a proven route to rapid growth!
The Decision To Franchise
The decision to franchise your business is one of the most difficult, yet rewarding, decisions you will face as a business owner. And, while you already know that in business you must either evolve and expand or loose market share (there is no neutral in business), you may not know that your business may be closer to “franchise ready” than you realize. In fact, many successful franchisors, and most franchisees are themselves small businesses, particularly in the formative years of their franchise businesses.