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Can the organization model be very easily taught? There is no point in having a lucrative business chance if it can not be duplicated by your franchisees. A training package must b...

The very first step in franchising your organization chance is to begin by analyzing your organization model. Is it profitable right after allowing for your franchise fees? If it is profitable and has properly defined objectives to exploit the opportunities in the market place location then you are ready to move to step two.

Can the enterprise model be simply taught? There is no point in having a profitable company opportunity if it can not be duplicated by your franchisees. A education package must be devised that assumes that the franchisee has no prior business encounter.

Step three is to produce a detailed and nicely laid out operators manual. This must be divided into two parts: one section for the franchisee and one section for the employees of the franchisee.

Step four is to decide on the initial franchise fee and the ongoing royalty payments. In the initial stages of launching the company franchise, the franchise fee will have to be kept at a really low level to entice the 1st batch of franchisees. When you have some franchisees operating successfully then you will be in a position to improve the initial payment.

Step five is to generate an ongoing assistance program for your franchisees. Some will demand much more help than other folks. A couple of will need to have far more education. You will need to have to make a decision at this point who is going to truly carry out the instruction. Several franchisors outsource the instruction aspect to a certified coaching firm. This implies that they can focus on the crucial aspect of running and managing the business.

Step six is to devise your franchise agreement with the assist of a decent franchise lawyer. There is no point in cutting charges as this will finish up becoming the cornerstone of your company opportunity.

Step seven is to produce all the marketing and advertising material which includes brochures and video presentations to marketplace your franchises. You will also require to choose where you are going to market your business opportunity. There are now a multitude of mediums exactly where you can promote your franchise ranging from franchise exhibitions, franchise magazines and franchise web sites. Numerous businesses even advertise their franchise offering in the national press.

Bear in mind that the above measures will be beneath constant improvement as the franchise network grows. All the advertising material, ongoing help and education will have to be developed as weaknesses are found.

Some of the franchisees will have to be treated like youngsters as they will never have managed a enterprise just before. Not only will you have to teach them how to mange your franchise but in some situations you will have to also train them into how to use a personal computer and basic accountancy skills.

Lastly, a technique will have to be produced to deal with franchisees that are deemed unsuitable following they began managing their business. No matter how thorough the recruiting programme is, it will be very tough to weed out all the unsuitable candidates until they in fact start operating their company.

Obtaining the appropriate franchisees, training them appropriately in all your systems and offering complete ongoing support ought to minimize the numbers who end up failing as organization owners.

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