Tom’s Franchise Information Blog
Opening a Franchise – Carbon Copies For Success
When you have a great business that has been successful, and you want to keep growing, you may want to expand by opening a franchise. Not only are you increasing your wealth you are offering someone else an opportunity to be successful.
The better known your business is, the more it is worth. If you do not feel that your business is as well known as it could be, flood the market with advertising. For instance, if you have a tattoo parlor, you will want to get advertisements to the public, with samples of your work. Canvas your customers; see if they will be willing to be in ads featuring your work. Local celebrities will be a plus to your ads. You could offer to pay them with another tattoo.
Contact all of your suppliers; see if they can supply everyone in your franchise. You want to be sure that you can keep the supplies consistent; you also want the set up of the stores to be consistent. The point of a franchise is to be able to walk into one of the shops, where ever it is located and get the same service, quality and pricing as the original shop.
Set up guidelines, make it clear what is expected from a buyer, be explicit in what you want and be just as explicit in what you will not tolerate. Spell out how they maintain a franchise and how they could loose a franchise. There is nothing too small to note, this is your business and your reputation you are dealing with. If you get stuck with a buyer who decides to do it their way and not yours, you are in trouble; your entire business could be ruined.
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