How do you succeed at franchising your business? What’s the process and what should you expect? When people fail at franchising, it’s not because franchising doesn’t work… it’s because they get what we call “franchise fatigued”. In this video Charles Internicola talks about how to WIN at franchising and your 5 year success plan.
Year 1 – Focus on launching and seasoning your brand:
– FDD Development
– Strong Item 19 Financial Performance Representation
– Focus on organic franchise sales
– Set a budget and strategy
– Create your founder story and brand story; you should be able to tell prospective franchisees “WHY YOU, WHY NOW”
Years 2-3 – Onboard and Support New Franchisees:
– Focus on organic franchise sales and digital
– Create broker relationships
– Support, support, support your franchisees!
– Franchisee-focused Item 19
Years 4-5 – Accelerate and Grow:
– Accelerate franchise sales
– Maintain your relationships with brokers
– Increase organic digital PR
– Get strong franchisee validation
– Capital to fuel the next level of growth
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