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Getting Started
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Before you go any further, let’s stop and make sure you’ve done the following: |
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| Considered your goals and motivations |
| Articulated your business model |
| Established an attractive, enticing sales prospectus |
| Prepared a nondisclosure agreement |
| Completed a series of market research projects and decided on the best locations for your franchises |
| Decided on key aspects of the franchise agreement, such as fees and territories |
| Worked with your attorney to create a complete, careful, and thorough franchise agreement |
| Had your lawyer review all other documentation |
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| Assuming you’ve done all these things, congratulations! You’re ready to start looking for franchisees and spreading your entrepreneurial wings over the world at large! |
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Where to Look? |
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There are a number of places to find potential franchisees. Some of these include:
1. Online
There are many websites dedicated to connecting franchisors and franchisees. Of course, when you work with someone online you don’t know who you’re dealing with, but it’s a safe bet you’ll meet before finalizing the agreement. We live in a paperless age: don’t be afraid to give the technology a
try.
2. Word of Mouth
Tell everyone you know that you’re expanding your business, and encourage them to spread the word, too. The nice thing about word of mouth is that your franchisee often comes complete with personal references!
3. Franchising Fairs and Expos
There are exhibitions specifically designed for franchisors and franchisees. At these events, you set up a booth and offer your sales prospectus to potential franchisees. These are a great way to reach a large number of serious investors, but participation can be costly: make sure you know the fees before you sign up.
4. Local Advertising
Local newspapers and classifieds are a great way to reach investors. The benefit of this method is that it allows you to limit your applicant pool to the area you want to reach. Internet and expos sometimes draw responses from further than you possibly imagined! |
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Making Your Franchise Shine |
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You aren’t McDonald’s, and you shouldn’t expect franchisees to beat down your door for the privilege of starting your franchise. Hopefully, you will eventually establish yourself as a serious franchisor, and people will recognize your name. For now, however, you’re starting out. You’re unknown, and people aren’t familiar with your business. You need to find ways to stand out from the crowd!
Here are some ways to attract potential franchisees: |
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| Offer a franchise fee discount for the first few franchisees. As stated, franchise fees are usually non-negotiable, but this isn’t a negotiation: it’s a special, once in a lifetime discount for those willing to get in on the ground floor of your business opportunity! |
| Make sure your franchise agreement is clearly worded and provides fair, clear benefits for the franchisee. |
| Keep your sales prospectus clear, concise, and to the point. Emphasize your business’s successes, and demonstrate how the franchisee can expect to profit from the experience. |
| Provide adequate training and support, especially in the first few months. |
| Have reasonable demands. You created your business, and it’s natural to feel somewhat protective of it. But the whole point of a franchise is to let go and have someone else take a swing. Control what you feel you must, but understand that your franchisee will want some independence as well. |
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If you market yourself aggressively, you’ll have a far greater chance of reaching the right person. Present sales trends and market research, always emphasising how your franchise will benefit the franchisee. Remember, people are looking to make a profit.
Play on that strength, and your business will increase in appeal!
This web site will guide you through the steps in franchising your business: what you need to know, how you should go about it, and how to make a success of it. In other words, here is everything you need to know in order to successfully franchise your business and keep it going.
Franchising is not for everybody. Be prepared to put in a great deal of work and effort. However, the golden moment in franchising comes when you’ve completed the preparations and you can stand back, take a deep breath, and watch your business expand under the direction of others. Franchising is a wonderful opportunity. All you need to make it work is a little know-how. And that’s where this site comes in! |
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How To Franchise Your Business Info Guide |
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Claim your FREE franchising consultation now
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Request a FREE 'Opportunity Analysis' with one of our experienced
business franchise consultants. During the analysis Franchise My Business will uncover the opportunities that exist within your business.
The detailed report will contain: |
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| Suitability for franchising |
| What you can charge for your franchise |
| The process explained |
| List changes needed to the business to enable successful franchising |
| Market analysis |
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No sales pitch - just good honest advice |
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Call 0845 020 4368 to book your free consultation |
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Our Fees
As you have seen franchising your business will generate a lot of additional cash. This option is also the quickest way to build a very profitable and high value business.
HMA Business Growth Solutions will complete 95% of the work involved in franchising the business. We will cover all legal costs (approx £5K), provide all the marketing material needed and provide a complete plan to recruit franchisees. We will also provide ongoing support and changes to the franchise system as required for a period of three years.
* £9995 + vat payable in 4 monthly payments (£2498.25 + VAT per
month).
This is a heavily discounted rate - we prefer to make the mass of
our fee by linking our fees to your success.
In addition we will: |
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| Advertise the franchise |
| Qualify the potential franchisees |
| Meet all potential franchisees |
| Any franchisees that we feel are suitable will be invited to
meet with you. |
| Close the sale and setup all legal contracts. |
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In return for handling this process and incurring many costs, our
fee will be 20% of the franchise fee. This fee will only be
payable on success.
Isn’t that refreshing - A consultancy company that links payment
to performance.
The exciting part of our service is that it won't cost you a
fortune. We mainly work by charging a small project fee and
accepting a minor percentage of the increased profits that we
create for you. |
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| We like to share in the extra profits we make for you. |
| This makes us highly motivated to achieve major increases in
profit. |
| Plus—we guarantee that your franchise will be a success or
we’ll work for you for absolutely nothing until it is or we will
refund your investment.
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| We are not like any other consultancy company you've ever come across. |
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Remember - if we can’t increase your profits dramatically
We’ll work for you for nothing until we do.
The Business Franchising Specialists
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