As a business owner, what are the advantages to franchising rather than opening multiple branches of my business?
There are a multitude of answers to this question, but it really boils down to two key issues.
One, would you rather own and manage a company “chain” or would you like to train and groom owners of your concept in the form of franchisees?
Two, do you have the necessary financial backing to continue opening new units on your own, or would you prefer to use OPM (other people’s money) for further growth and development?
I have written extensively on this subject over the years, but my favorite article is this one aimed at becoming a successful franchisor.
There are many factors to consider, but most of the main points from a successful franchise consultant’s point of view are found in that piece.