You have a successful business, and someone asks you, “how to franchise?” Your coffee turns cold. Your brain is racing. Is it really that easy to put a brand on someone else’s door? Spoiler: It’s not hard, but it’s not a lemonade stand, either.
First, feel comfortable with your own business. I’m talking about every single screw and nut. If you have a daily playbook in your thoughts, open it up. Write down how to accomplish things, such step-by-step tutorials, recipes, and scripts. Franchisees don’t require modern art; they need a “paint by numbers” approach.
Next comes the law. Yawn, but please stay with me. You will require an FDD, or Franchise Disclosure Document. This huge stack of papers spells out everything, including fees, territory, and duties. This is like an autobiography of your business, but with less love stories and more legalese. If you don’t work as a lawyer on the side, don’t try to write this yourself. This is where it pays to hire a franchise lawyer (it’s worth every penny to avoid having panic attacks at night).
What about the brand now? Is it tough? Can someone in a different city “get” what you’re selling right away? If the way you feel changes from store to store, that’s a bad sign. You should have the same colors, values, and method of greeting customers all the time. McDonald’s didn’t get huge by offering lobster in one place and burgers in another.
Next is training. This is your chance to shine. Think about teaching someone who has never worked with your cash register or fried chicken fingers. Prepare training sessions, videos, and manuals, and be ready to answer every “What if?” question that comes up. No one likes surprises, especially your franchisees.
Talk about money: Decide how much you will charge. Most people start with a one-time cost and then pay royalties on an ongoing basis. Set a price that makes sense for you and the people you want to work with in the future. Don’t squeeze the life out of them, but keep in mind that you’re offering them your golden ticket.
A flashy logo isn’t all there is to marketing. Franchisees will want to know how you’ll get people to sit down. What advertising work? Posts on Facebook? Endorsements from famous people? Write everything out.
You can’t stop helping just because you gave them keys and clothing. At least at first, hold their hand. Calls, emails, and unexpected visits. Your brand goes down with their ship.
Finally, choose franchisees the same way you would choose a babysitter. No one wants to hear a scary story. Ask a lot of inquiries. Follow your gut. One nasty fruit.
Take your time with each step. Don’t hurry through the messy bits. Franchising can make your business better or worse. You can get through this if you have tenacity, a detailed guide, and a sense of humor. You could even do well. And hey, give your mom a call. She’ll want to know how things are going.