Hamilton Pratt

HOW LONG DOES IT TAKE TO GET A BUSINESS READY FOR FRANCHISING?

The short answer is quite some time. You must remember that franchising is not about franchising an idea but is about franchising a business concept that you have proven works. So first you must have an existing business that operates profitably and has a long term future. If your existing business is not profitable then clearly you do not have a franchisable proposition. Assuming that it is, the next step is to prove that your profitable business can be replicated. This involves appointing one of more pilot franchisees for a minimum period of 12 months. During this period you would develop the operating manual and the pilot operations would prove (you hope!) that your business can be franchised.

 

You are then likely to need assistance with how to franchise your business and this is where leading franchise consultants come in. They can guide you on all aspects of your proposed franchised business. At the same time you will need legal advice on your franchise agreement, trade marks, confidentiality agreement and other legal issues. If you have not already obtained a trade mark (and it is a good idea to start this process as early as possible) then this could take 6 months or so.

 

When you launch your franchise it can be a slow process obtaining the first few franchisees because you do not have a track record.

 

All of the above adds up to considerable time and expense. Launching a franchise is not a quick fix!

 

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