Are you ready to offer your business for franchising?

 

Are you ready to offer your business for franchising?

 

There are many ways to expand your business. And franchising is one of them. Through it, your business can have presence in various markets without having to incur much cost on your part. The franchisees will pay for the right to put up and operate a duplicate of your business in another location and will shoulder the costs for you.

 

Needless to say, franchising is a good way to further create awareness and strengthen your brand.

 

But how do you know if your business is ready for franchising?  Let's take a look at two businesses which have aggressively and successfully taken the path to franchising---Lady Christine’s Baby Back Ribs and BigasanKo.com.

 

Lady Christine’s Baby Back Ribs co-owner Dr. Christine Eustacio said they have put in place effective business processes that could be duplicated in other branches. Of course, they have also established a good business image, reputation, and utmost confidence in their products.

 

For its part, BigasanKo.com was confident to go into franchising given the steady demand for rice. Its founder, Ramilton James Alenton, has even proudly devised a new system for selling rice in retail—through the use of a special, patented dispenser.

 

Both admit that aside from preparing their business for franchising, they also invested in marketing efforts to send across the message to the market about their franchise package offers.

 

Thus, we may consider these indications that your business is ready for franchising:

  • There is a compelling product/service with significant following.

  • A systematic way of conducting business processes effectively and profitably is in place.

  • It offers a unique and promising business concept for potential franchisees.

  • The business owners are ready to take the bigger responsibility of guiding prospective franchisees in the path to success.

 

Once you have decided to put your business up for franchising, take the necessary measures to make it work.

 

 

 

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