Franchising represents an attractive means for many catering providers to expand their businesses. The principal reason many restaurants choose to franchise is that it allows for expansion without the amount of capital funded by the franchisor that is required under other forms of expansion. However, franchising is only one of many expansion alternatives businesses should consider.
When beginning to franchise your business, it is easy to misunderstand how much work and energy goes into a successful franchise launch. The excitement and idea of opening up franchised branches of your business seems to cover up the critical ingredients that are required of a successful franchise system. As the franchisor, you are the one who everyone will turn to and will be expected to have the answer. It is your duty and responsibility to provide substantial guidance and support to franchisees every step of the way.
IHE can provide the structure, guidance and oversight for a successful franchise program implementation. But after the first franchise is sold and the check has cleared, the responsibilities land back on you as the franchisor. When considering whether to franchise your business, it is important to get your arms around the gravity of what comes after the sale, how much of you is required from a new franchise buyer, what kind of time and how much support you intend to provide to keep people feeling supported.