How will I know if my business is ready for franchising?
- Brian McilweeLv 51 month ago
your business is not ready for franchising until:
#1 Your monthly NET PROFITS are double what your expenses are.
#2 You already have a second location open being run by a trusted employee and that Location is also making double the expenses in profits.
#3 You have customers who come from far away and ask when you will open a location near them.
#4 You have done the market research to show that your product or service will do well with another location.
Then you get your Lawyer and CPA to draft the franchise agreement and you offer it first to your employees...then you advertise the opportunity in the business papers and journals...the ones local to you.
- Anonymous1 month ago
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