So, you’re chugging along nicely and the business reached a level where it might make more sense to franchise than to keep growing the areas yourself. What would be the criteria for you to decide to franchise?
- Might want to stop re-investing into your business yourself and get others to do it into your concept.
- Want to reduce the risk of spreading yourself too thin.
- Are up for a new challenge and why bother getting out when you can revolutionise your current business, the one you know very well.
- Want to do something different because being a franchisor is in fact a different business with new and different skills being required.
- Want to see your business grow much faster than it is currently growing at.
- Are mesmerised by people who successfully achieved franchising their businesses.
- Want to look at an alternative to partnerships.
- Love the idea of recurring income.
- Can really see it potentially go global.
- Can truly see a substantial re-sale value.
- Love to travel.
- Like conferences.
- Like to be the front person.
- Like to be recognised for achieving something in the public arena.
If any of them sound appealing to you and your business can be a logically franchisable model, then, please give me a call and we can brainstorm how this could work for you. You never know what your life will look like in 5 years.