Thread: Anyone on here a "franchisor"?

Wanted to know if anyone on here is a franchisor; franchised their concept?

I am working on it.

My mother is a franchisor and now a consultant and founder of a franchise recruiting and development firm. If you ever have any questions or need any advice shoot me a PM!

I am working on franchising several pieces of my business. What do you need to know?

How have you learned the process of franchising your operation? I havent found any useful books on this topic as they are all geared to the franchisee; anyone know of any? Do you have to seek out consultants for this?

Marking... I am also very interested in franchising

For example let's say you have proven your concept and you want to proceed to the next step, what is the next step? Do you need to hire a consultant or get an attorney, none of the above?

I don't know a whole lot, so I'm qualifying that the advice I am about to give is based mostly on assumptions from reading different things online.

The absolute first thing you have to do is prove the concept is profitable, then you have to prove it's repeatable (i.e. standard documented processes, procedures, policies, etc).

There are companies (or consultants) that specifically help you franchise your concept, and could help you identify the next steps after this. A lawyer is VERY important to protect yourself with a franchise contract.

I just googled "How to franchise my business" and found this site, Franchising Your Business | How to Franchise, which appears to help companies franchise. I can't comment on how good they are, but it's a start, and I'm sure there are many more out there.

Done some research and for those interested there are two routes to take as far as I know. One is to go the cheap route, which isnt recommended by the sme's (experts), and just get a franchise attorney to get you going for about 20k, however there is a ton he wont do for you. The other pricier and recommended route to take is to locate a "reputable" franchise development company; they will do everything for you A to Z. Marketing, agreements and all, however, it will cost you from 60-150k when its said and done to do this. My advice is to spend some money and have an sme look at your biz and see if franchising is the best route to take because it is just one model after all. You dont want to spend 100k and sell 3 franchises.

I'm looking this direction for my business as well. Not sure where I saw it, although I know it was somewhere in the Fastlane Forum, where someone suggested the following website: How To Franchise | Franchise Consultants | Franchise My Business | Franchise Marketing. The author was quick to mention that he had no experience with it, but had run across it in the course of some web research and thought it might be helpful to someone.

In the last 24 hours, I have taken a quick look, downloaded the free e-book (haven't read it yet), and taken the free quiz that they have on the website. Of course, you have to give them your contact information to download the e-book, and yes, someone has already contacted me (sheesh! let me read first). Just letting you know how it has worked so far since I prefer to do my research in peace...

Good luck and keep us posted about the process, will you?

Yeah I would be cautious with these companies; especially companies who tell you they can franchise your operation, you really need to do some due dilligence in finding a reputable company or they will drain your bank account and youll be left with squat; from what ive been told. Think invention marketing companies lol.

Its interesting that you can read about how to buy a franchise until your eyeballs hurt but credible information on how to become a franchisor is fairly sparse. I would say to watch who you approach first in the game because everyone wants a cut of your money. I would suggest calling a smaller successful franchise chain, talk to the owner, and ask how they got going. They could refer you to a good company is my point.