If you run a successful retail business the next step is to decide on becoming a large chain or to franchise. Turning into a large chain often comes with higher demands and expectations. If this option doesn’t interest you then you may want to take the second step by offering franchise options.
When deciding to franchise there are 4 main steps you need to take to ensure success:
1. Have a clear core concept.
2. Pick franchisees with care.
3.Make a serious investment in training.
4. Keep tight controls.
After applying the proper precautions and following these important steps you only need to focus on following up regularly with your franchisees.
What is currently holding your business back from becoming a successful franchise?
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