Preparation Before Franchising Your Business

Franchising is a popular way to develop your business right now. If you are a business owner and are trying to grow your business, franchising has many advantages than you develop the business by opening branches. However, before you decided to franchise your business there are three preparations you should do: paradigm, organization and investment
Paradigm preparation is the first thing you should do. When you decide to franchise your business, then the paradigm that must be held is no longer the paradigm to sell products / services to consumers. For example, if you have a business meal of noodles, then the paradigm you no longer sell noodles to the customers but the paradigm that must be built is to sell " noodle business" itself to prospective franchisees. So the treatment for both types of customers is very different. The first one, you sell to buyers directly, which eat your noodles, but the second one, you sell to prospective franchise investors who do not necessarily like to eat noodles. But because he was interested in buying a franchise business from .you
The second preparation is the organization preparation. This preparation is made to establish a solid organization in your company. Final preparation is the preparation of investment. Here is a preparation for future capital should you spend to run your franchise business. Briefly, preparation of investment will calculate how much your initial investment cost to be a franchisor, and how much the franchise fee and royalty fee will be charged to your franchisee.