The franchise is an expansion tool that allows the entrepreneur to increase his network with a dedication of resources inferior to those that would be necessary to do it with a network of own establishments.
However, not all businesses are franchiseable or all entrepreneurs are holders of a concept susceptible to qualify for the model or have the "mentality" necessary to franchise; So, how do I decide if I am ready to franchise my business?
Although the decision-making must respond to a meticulous internal and market analysis, we can take into consideration some initial questions that help us to face or not the project.
First, we must objectively look at the structure of our business: number of establishments, locations where it operates, its age, among others. There is no rule that sets those "minimums" necessary to be a franchisor. However, we must be sure that we can obtain similar results with our locations in different geographical locations that meet the previously established demographic and socioeconomic criteria.
Secondly, after clarifying this point, we will analyze whether, beyond the geographic conditions, we can process and faithfully transmit our business concept, so that a third party, alien to the original idea, can replicate the activity of our own establishments with success.
Finally, it is the entrepreneur who must consider whether he is willing to provide himself with the structure and knowledge necessary to provide the precise services to his network of franchisees. The success of the franchisor depends from that moment not on himself, but on the activity of third parties whose good work will depend to a great extent on the professionalism and experience of the franchise center. That is why no effort or resources should be spared in its creation and activity.
