Franchising: Is it Right for Your Business?
.jpg)
"Franchising" represents one of the most dominant and dynamic forms of distribution in the United States economy. With, by many measures, franchise sales constituting more than 33% of all United States retail sales, the impact and significance of franchising is pervasive, has led and will continue to lead successful business owners and entrepreneurs to the following question:"is franchising right for my business?". As with every important decision, there is no easy answer and a good decision requires a thorough assessment of your business, your management skills and the business systems and assets that you have established.
Starting with the disclaimer and fact that "franchising is not right for every successful business, if you are interested in franchising your business, here are four questions that you must evaluate and answer.
Answering these questions are not easy and require serious consideration and thought as to the direction of your business and your commitment to creating a franchise system and infrastructure that will honestly and competently provide franchisees with the "opportunity" to duplicate your business business success. The prospect for franchisee profitability must be prominent in your assessment and evaluation.
