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(PRWEB UK) 31 October 2012
Franchise Link promote 10 golden rules that businesses should consider prior to franchising.
1. Ascertain that franchising would be the best route to expand your business.
2. Make sure your business has a registered trade mark.
3. Check that your business is, in fact, franchise able.
4. Identify and specify the role, duties and responsibilities of the franchisees.
5. Evaluate first what a franchisee can realistically earn and then evaluate your own income and expenditure.
6. You must be adequately funded to establish the franchise.
7. Be equipped to provide your franchisees with training and comprehensive operating manuals.
8. Understand that recruiting franchisees takes time and that it is likely you will need to generate a large number of enquiries to find franchisees of the right calibre.
9. Understand that your role is not to manage the franchisee’s business, but to manage his expectations.
10. Be transparent in all your dealings with your franchisees.
Franchising isn't a new concept it has been around for many years. There are lots of businesses that are used every day that are based on a franchised model. Companies like McDonalds, Cash Converters and Subway are to name but a few.
Franchise Link are offering a Free Consultation for any business wishing to franchise. Please call for details