How to Franchise Your Business

To successfully build a really rock solid, watertight franchise programme it needs to be built on solid foundations and implemented with professionalism and a clinical understanding of the Franchisor/Franchisee relationship.

Stage 1.

Franchise Development

The key blocks to building a successful business format franchise are as follows;

• Protect the Intellectual Property associated with the business model. Before proceeding to grant any kind of franchise in respect of intellectual property rights, it is necessary for you to ensure that you have those rights available to you as a Franchisor. Once you as the Franchisor has the trade/service mark registered, they are then afforded certain statutory protections.
  
  
• Development of your Legal Agreements with a franchise specialist solicitor: The purpose of the agreement is to protect your franchise and outline in contractual terms the relationship between you the Franchisor and the Franchisee. The franchise agreement simply frames the relationship and outlines the obligations of both parties under law.
  
  
• Document your Operations Manuals: The operations manual documents how you expect your franchisees to operate your business model albeit they are running their own business as franchisees. It is imperative to develop a comprehensive operations manual in order to protect your brand reputation and intellectual property.
  
  
• Develop your Training Curriculum and Content: A comprehensive training programme is key to successful franchising. As franchisor you are obliged to prepare the necessary document which supports training your franchisees up in “all aspects” of how to run the business.
  
  
• Prepare the required Marketing Collateral to promote your franchise: Remember good franchises are not sold they are bought, so you need to ensure that your marketing materials and platform messaging properly represent the business opportunity to suitable candidates.
  
  
• Decide on your On-going Support Programme. Agree what support resources are going to be provided to your franchisee partner. It is imperative that there is absolute clarity on the levels of support provided and there are no mis expectations from either party.

Stage 2.

Implementation Phase

It is not good enough to build a strong franchise programme. You also need to take specialist advice on the successful implementation of the programme. Franchising is a totally different business to your existing business, with different challenges, different relationships and different skill sets required. The introduction and implementation of proper franchisee recruitment processes and the assessment of suitable franchisees will be key to the success of your franchise strategy. Take advice.