Are you ready to franchise your business
Do you have a successful business that you would like to expand?
India currently has 12000 companies using the franchise way to business growth, while it is predictable that more than 6000 companies are currently in the process of franchising their businesses and will be in the marketplace in a few months. It is one of the most preferred formats of business expansion in most developing economies, while a host of products and services reach the final consumers. You could now use this proven methodology to franchise your business too.
Franchisingroots believes that if your business is “Franchise-able”, you should seriously consider this option. Becoming a Franchise is the fastest, most efficient, and, in most cases, the most cost-effective way to expand a business, but the transformation of an independent business to a Franchise system is not so easy. It takes money (which may be a large amount for some fledgling businesses) and a considerable amount of time. Before you commit to any plan, you need to determine if your business is “Franchise-able”.
Evaluate your business if it has to succeed as Franchise and take the self-assessment check to see your readiness on franchising:
Your business should have at least one unit or territory operating successfully and profitably— but it is preferable that your business has three or four units, or coverage of a substantial population or territory. You could be running these units on your own, or within the family or a known circle of people.
You should have a register able mark for your business. If you sell products, you must register a trademark; if you sell services, you register a service mark. This is essential since your goal is to have an identifiable brand which is protected.