Helpful Guidelines for Franchising Your Business | VetFran

If you are ready to grow your business but can’t take on any more locations on your own, franchising might be the right choice for you. While franchising is far from a guaranteed success plan, if you do the work and the due diligence, it can be a great chance to continue your upward trajectory and increase your business’ reach across your area.

While the work to make your business replicable might feel tedious, if you set your franchisees up for success and do the work to recruit the right talent from the beginning, you can be on your way to a successful franchise system in no time.

What to Do Before You Franchise Your Business

Make sure you are organized. The most important element of a franchise is organization. Everything from signage to operations has to be repeatable for any franchise owner anywhere in the system—which requires some extreme organizational skills. Now is a good time to draft an operations manual, decide on the numbers such as your franchise fees, royalties and marketing fees and make sure you have a solid training plan in place.

Consider what you want in franchisees. Once you bring on franchisees to the system, the business will be in their hands as well as yours. Make sure you have a clear idea of what you are looking for and choose the right type of person to represent your business to new customers. While it is not necessary that the franchisees you choose have previous business ownership experience, you do want to find people who have great leadership skills and who can be entrusted with the brand you have built.

Get your Franchise Disclosure Document drafted. Your Franchise Disclosure Document contains all the nitty-gritty details about your franchise operations, so it should be thorough and professionally reviewed by an attorney who is experienced with franchise sales. This is the document that outlines your protections for your intellectual property, your brand rights and more, so it is quite important.

Are you ready to expand your business via franchising? When you are ready to find the perfect franchisees, we are here to help. We can connect you with qualified veterans who are ready to take the next step in their career. Contact us today to learn more.