Whether or not to franchise isn't an easy decision. You'll need to consider the business issues and weigh the pros and cons from an informed perspective. Franchising as a rapid expansion tactic is one of several options you should consider for it's tremendous potential to grow your business quickly. How does franchising work? The key is in the creation of systems which can be duplicated through training and support. Other characteristics attractive to potential franchisees include businesses:
- with a good track record of profitability.
- built around a unique or unusual concept.
- with broad geographic appeal.
- which are relatively easy to operate.
- which are relatively inexpensive to operate.
- which are easily duplicated.
- difficult to monitor from long distances.
- requiring large numbers of employees.
- with complex operations.
- with low profit margins.