If I were considering franchising my business, what would you advise me to do first?
Franchising a business can be among the most exciting adventures available to the entrepreneur. It can also be among the most devastating paths.
So, the very first thing to do is find a franchise consultant or franchise attorney who will help conduct a real franchise feasibility study. Unfortunately, most consultants in the business of assisting with turning a successful (sometimes a not so successful) business into a franchise offering are only interested in generating a “consulting fee”. They are not terribly concerned with the eventual outcome of the project in terms of franchising success. (If you don’t believe me, then call a few “franchise consultants” and see how quickly your concept becomes the “next great” idea for cloning.)
Franchise feasibility is the single most important step in determining whether or not franchising is the best method of distribution both for you and your business.