How can I tell if my business is franchisable?

It is easier to tell whether your business is not franchisable!  If your business is unsuccessful, or if the business is successful because of you and your special abilities, if it is a business that depends on skills that cannot be trained, or which requires a substantial amount of training, or is a business that is fashionable and is unlikely to have a long “shelf life”, then the business is not franchisable.

If your business is franchisable that does not, of course, mean that it is a good idea to franchise your business.  Franchising is by no means cheap because you will have to prepare a franchise agreement, an operations manual, franchise prospectus and so on. You also have to budget for advertising in magazines, attending at exhibitions, going on franchise websites, and so on. Recruiting franchisees is not easy and it may take you many years before you have recruited a sufficient number of franchisees for you to earn a profit.  Nevertheless, if you have concluded that you need to grow using other people’s capital, and that your business works better with the individual motivation that comes from an owner manager, then franchising may indeed be for you.  Having said that, you must obtain as much information about franchising as possible.  There is quite a lot of free information which you should obtain before spending money with expensive franchise lawyers or consultants!