In your opinion, what are three basic advantages to franchising a business?
For those who are really suited for the role of franchisor, there is no other comparable model to follow.
First, the franchisor moves from “doer to teacher”. For those who know and have embraced their craft (their business), the role of franchisor provides the opportunity to help others succeed.
Second, the franchisor can make use of OPM (other people’s money) in establishing more locations.
And third, in a similar vein to the second advantage, the franchisor can make use of OPT (other people’s time) in the management of oversight of each successive location.
Of course, there are numerous other advantages to the franchisor depending upon individual circumstances, but the first three make franchising a very attractive option to the right entrepreneurs.