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Should I franchise my business?

Franchising a business is rather an easy and cost effective way of expanding your business. Franchising is also a very easy way of growing your business in international markets where it would be difficult to set up business on your own. Once a brand has been established and 2-3 outlets have been made operational, franchising becomes a compelling option for the business to explore. But do remember that there is some amount of loss of ownership and control as you will not be able to fully oversee franchised outlets. It is important to choose the right partner who can take up your franchise and grow it. You should spend considerable amount of time to train her/him throughly because your brand name is at stake. Also, typically franchised units tend to perform better than a company owned outlet, the reason being the franchised units are run as their own business by the franchise owners whereas the company outlets are managed by managers who are employees and may not have the same level of motivation. If you decide to explore franchising your business, you can get started by filling in your business details here.

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