Should I Franchise or Not?

A reader of one of my online sessions asked should he franchise his business or not. He had set up a service business and was getting ready to expand and wanted to know if franchising was a good potential strategy for this. How do I franchise my business? There are many criteria for franchising and if you have ever thought you might wish to franchise your business then this advice could be of value to you:

You cannot determine if you should franchise or not until you have perfected your operation, any thing less than perfection will be doing a disservice to your future company and franchisees. I am not advocating waiting until it is actually perfect, for that day may not ever come, but rather making that a goal of your business building before deciding to franchise or not. Go read the "E-Myth."

It is possible you might be pre-empted as your profits will be taken by attorneys and lawyers due to the increased regulations in franchising. We have issues in the US where workforce is often under the impression of the right to be irresponsible and if they do not work hard and fail they will most likely blame you and sue. So many factors to consider and many are not in any books. I would say; you need to start with about a million dollars solely dedicated to the franchise part of the business to get it to work. Not including all the prototypes or company owned stores or operations.

There is an overload of information on this topic, but anyone truly interested in franchising needs to study up on these methods. If you can; I recommend some good books or articles on this subject you might wish to read:

The Franchise Bible

Trips and Traps When Buying a Franchise

Franchising 101

Franchising for Dummies

Franchising and Licensing

I have read and own probably 30 books on the subject all have tid bits but these ought to be a good start. If this it not sufficient, a longer list can be made available from www.franchising.org . Remember most people write books for a reason; if it is written by an attorney it will have legal slant, an entrepreneur will have an optimistic and promotional slant, a consultant will have a strategic slant. You see? The book most important in my professional opinion after you have franchised would be; "The Franchise Relationship" www.franchiserelations.com .

If you are considering the franchise format to expand your currently successful business then these are aspect and information you should be well versed in to make it all work. I wish you the best of luck and continued success.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs

Alto Pass chicago limos ..
In The News:

A benchmarking group for artificial intelligence has released new results evaluating the speed of hardware in running AI applications and responding to users.
Sierra Space’s Dream Chaser spaceplane provides a glimpse into the future of space travel. Traveling to space may become a part of everyday life.
The new European Hyperloop Center in the Netherlands aims bring in a new era of transportation. The center will use a steel tube as a proving ground for testing the new vehicle.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
While it may be incredibly tempting to have a “go with the flow" mindset like the rest of your vacation, your technology definitely should not be compromised while traveling.
Have you ever accidentally deleted an app from your iPhone that you’ve already paid for? Don't worry. We’ve got a trick that will help you get it back without having to buy it again.
Apple's new Journal app has raised privacy concerns among Apple's userbase. Tech expert Kim Komando examines social media rumors and explains what steps to take to protect yourself.
Although Facebook has denied that our phones listen to us, they do have other ways of finding out what we are talking about, listening to and searching for.
With the integration of OpenAI technology, Figure 01 has taken a significant leap forward, showcasing the potential of robots to understand and interact with us on a personal level.
Port Ellen, newly reopened whisky distillery in Scotland, is using SmokeDNAi technology to understand mouth-feel and flavors during the whisky maturation process.
Telly, a smart TV firm, is promising to give out their 4K 55-inch TV for free. What must you give in return? The innovative, yet potentially unsettling, answer might shock you.
The moment a spam invite hits your calendar, it’s like an uninvited guest at a party. So, what do you do? Show it the door.
Identity thieves are now targeting children and are making large sums of money by exploiting children's identities, possibly hurting their financial future.
There's a clever way to change the notification sounds on your Android without having to look at your screen. Kurt "CyberGuy" Knutsson explains.
If your bank accounted has been hacked, there are a number of steps you can take to prevent it from happening again. Kurt "CyberGuy" Knutsson explains.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
The Wave House, a data center in Heidelberg, Germany, is the the largest 3D-printed building in Europe. Its walls were built in about 140 hours.
Some government agencies around the world are struggling to meet their staffing goals when it comes to hiring artificial intelligence experts.
Google Maps' recent upgrades have introduced real-time ETA and turn-by-turn directions to your phone's lock screen while you are traveling.
Kat Cammack says AI could disrupt the 2024 election. A report says shared AI image tools generate election disinformation in 41% of cases and voting disinformation in 59% of cases.
Deepfakes have become commonplace, and the technology is only getting better, but there are certain elements that might give away the fact that an image is AI-generated.
A stealthy technology known as EM Eye allows eavesdropping on your home security cameras, according to Northeastern University researchers.
Give your iPhone an extra layer of security. Tech guru Kurt "CyberGuy" Knutsson explains the easy steps for changing the security passcode on your iPhone.
Kim Komando shares expert tech tips to maximize productivity. Learn screen recording hacks and file organization tricks to streamline your digital workflow.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Reclaim Equipment Detailing Industry and NPDES, EPA, Storm Water Rules

It behooves every professional mobile auto detailer to stay up... Read More

Pressure Washing Business; Steam Cleaner Fuel Maintenance

It is essential that you fully understand how the fuel... Read More

Small Business Strategies - Four Critical Success Factors

Scenario OneDuring a recent presentation, a business owner was given... Read More

11 Things Small Business Owners Can Learn From Tiger

1. There Are No "gimmes" ? They count two-foot putts... Read More

How to Profit Handsomely From a Secret Business Model Virtually No Small Business is Using!

Have you been searching for the perfect home-based business? I... Read More

More Business Card Marketing

If you are worried about how many different business cards... Read More

Top Ten Resolves for Building Your Business in 2005

1. Resolve to build a consistent network system.Since referrals are... Read More

Shortcuts Will Kill Your Business

Think of your business as a living, breathing, organism. It... Read More

Work is a Four Letter Word

I love work, I can watch it all day.I am... Read More

Small Business Success: Thriving During Change (And Landing On Your Feet!)

If I had $1.00 every time I heard someone say... Read More

Small Business and Branding ? Why and How?

When we speak of branding most of the time people... Read More

The Perfect Mission Statement

One way to determine your companies mission statement is based... Read More

How to Increase the Cash Flow in Your Private Practice in 30 Days

If you have a busy private practice, chances are you... Read More

Choosing A Business Thats Right For You

Q: I really want to start my own business, but... Read More

Pressure Washer Concrete Cleaning Equipment

Cleaning concrete is tough and there is an easy way... Read More

Change May Be Your Ace in the Hole

Whether it has been thrust upon you by external market... Read More

How To Get Slightly Famous in Print

Early in my career, I wrote an article for a... Read More

25 Valuable Phone Numbers For Small Businesses Success

Starting and growing a small business can be a daunting... Read More

Wichita Kansas is a Great Place to Run a Business

We love Wichita because it has great all round weather... Read More

The Hidden Treasure in Your Business

I started working with another new client last week. He... Read More

How to Manage Your Pipeline

How is your pipeline structured?I assume most of you have... Read More

Venus Transit - and Small Business?

On June 8, 2004, the world witnessed what no one... Read More

How to Avoid the Most Common Reasons for Small Business Failure

The life cycle of the typical small business is short... Read More

How Micro Loans Can Mean Macro Success for Your Business

"Inch by inch, row by row...that's the way my garden... Read More

Five Quick Ways to Speed Up Cash Flow

At one point or another, almost every business runs short... Read More

Alto Pass cool limo ..