Ever wondered just how hard business owners have to work to take their idea into the big leagues of brand expansion with franchising? Franchisors face a number of weighty challenges from the day their business idea begins. Some immediately aim to plan ahead for franchising goals and some fall into it.
Running Two Businesses at Once
Believe it or not, stepping into franchising and all that’s involved is a decision that requires business owners to basically manage and run two businesses at the same time. One is of course the actual business that needs attention on a daily basis, and the other is that of creating and organizing the franchise system that the company will gradually come to be.
This process is no doubt smoother when a team is put together to focus on key tasks, with business owners relying on the support of professionals specializing in how to build a franchise model. By dividing talents and organizing key team members in their appropriate area of expertise, going from single business to franchise system is made possible.
Arriving at the conclusion that franchising is the direction a business is headed requires building a system. That system must be suited to pretty much any qualified individual so that it can be put into the hands of someone totally unrelated and unfamiliar and work. This is no easy task.
Often, those seeking out a franchise opportunity have little real understanding of just how much goes into the replication of a business. Some of the nuances of the business that once seemed attractive while operating as a single outlet have to be sacrificed for a process, one that has a predictable and reliable structure. Forget about the common plan set out by owners to tackle the success of just the one business. Precise business plans specifically oriented toward franchising must be drawn up and closely analyzed for strength of execution.
Now or Never (Usually)
Deciding to franchise a business after it’s been running for years is possible. Many business owners can attest to the benefits of really knowing your brand and what you stand for before starting to franchise. Nonetheless, deciding to prepare a business for its future franchise status early comes with numerous benefits.
Not only can the entire scope of the business structure be made franchise-friendly far more easily when it’s built into the foundation, but the culture of the brand from the start will better serve the many franchise partners to one day build a partnership. So though it’s not always a now or never situation, the longer a business waits to welcome franchisees, the greater its potential risk of accumulating habits and quirks that may interfere with a smooth transition into franchising. This could in turn lead to even more work involved in resetting the direction of the brand to render franchising goals more practicable.