{"id":2713,"date":"2019-04-02T08:00:07","date_gmt":"2019-04-02T12:00:07","guid":{"rendered":"https:\/\/www.franchisesolutions.com\/blog\/?p=2713"},"modified":"2019-03-21T17:38:24","modified_gmt":"2019-03-21T21:38:24","slug":"tip-tuesday-how-to-franchise-a-business","status":"publish","type":"post","link":"https:\/\/www.franchisesolutions.com\/blog\/2019-04\/tip-tuesday-how-to-franchise-a-business\/","title":{"rendered":"Tip Tuesday \u2013 How to franchise a business"},"content":{"rendered":"\n

Today’s Tip Tuesday is on how to franchise a business. If you have a successful business and have determined that it is \u201cfranchise-able\u201d Franchise Solutions<\/a> has the next steps to take. By “franchise-able” we mean you have evaluated the business’s potential and found that it can be duplicated well. In addition, you have deemed your business offers beneficial returns as a franchise. Read on for the next steps.<\/p>\n\n\n\n

\"Franchise<\/figure>\n\n\n\n

The Process<\/h2>\n\n\n\n

1. Develop a business plan<\/h3>\n\n\n\n

A business plan for a franchise outlines your goals and explains the objectives on how you plan to achieve those goals. A more formal plan contains all the information a lender would need to assess your business. In particular, it has a summary of the business detailing the types of products and services your business offers or provides. Namely, it would list the members of your leadership team and their roles. <\/p>\n\n\n\n

2. Devise an operations manual<\/h3>\n\n\n

An operations manual contains all the information a manager or employee would need to run the franchise on a daily basis. This manual covers very basic information such as the hours of operation, locations and job descriptions but also specific information for each department regarding policies and procedures.<\/p>\n\n\n

3. Create training programs <\/h3>\n\n\n\n

Training programs are essential in making sure a franchise has consistency and the same standards of quality and service in every location. Likewise, good training programs help franchisees understand the importance of maintaining the brand’s image. Not only that, but training programs teach franchise owners all the “how-to\u2019s\u201d of the business. For example, training is the perfect time to provide answer on how to negotiate a lease, how to order supplies, how to operate software or proprietary programs, etc.<\/p>\n\n\n\n

4. Contract a franchise agreement (FDD) <\/h3>\n\n\n\n

Drafting a franchise disclosure document (FDD<\/a>) is tedious and best done with the help of a lawyer. It contains agreements; statements and a total of 23 items which will help franchisees make an informed decision about investing in your business. Some of the most important pieces of information included in the FDD are:<\/p>\n\n\n\n