Considering Franchising an Existing Business?

Franchising is dynamic. It is the leading method of doing business, has been for years and that will continue as it adapts to new industries and methods of doing business.

When making a decision to franchise Retailink believes that business owners must first determine if franchising is a legitimate option. We feel there are four criteria of a potential franchise prototype that you can use to test the franchisability of your business. While not totally definitive it will give you a good idea where you stand.

Next you should be aware that a high percentage of new franchise companies fail in the first 3 years ( no other franchise consultant will tell you that) and you therefore must gain a thorough understanding of what is involved in franchising.

Finally, assuming you have a franchisable businesses and the resources necessary to succeed, your next step is to determine if this is the best strategy based on your goals and objectives. Can be does not mean should be. You need to consider the advantages, disadvantages of your alternative strategies verses the advantages of franchising.