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Anyone with experience in franchising from either side?
Posted on 1/30/24 at 8:31 pm
Posted on 1/30/24 at 8:31 pm
I have a meeting in the morning with a company that will do all of the work to make you a franchisor, for a decent sized fee, obviously.
Honestly, it seems like a lot of work with the filings with the FTC and such. Reality is I’m never going to do it on my own.
I’m interested in any information from either side. If anyone has franchised, what route did you take to become a legal franchise? If anyone is a franchisee, what resources did you use to find a company you wanted to be a part of and what was the attraction?
Honestly, it seems like a lot of work with the filings with the FTC and such. Reality is I’m never going to do it on my own.
I’m interested in any information from either side. If anyone has franchised, what route did you take to become a legal franchise? If anyone is a franchisee, what resources did you use to find a company you wanted to be a part of and what was the attraction?
2
Posted on 1/31/24 at 12:15 am to BrianFlanagan
Far be it for me to judge as it sounds like you're in a better position than me, but I'd point out that if the act of filing some standard business paperwork has been a showstopper for you then this endeavor might not be for you.
Do you already run a business?
Do you already run a business?
Posted on 1/31/24 at 7:27 am to BrianFlanagan
When you say alcohol business, I’m going to assume you mean retail side of that equation (bar, package store, restaurant, etc.). Couldn’t imagine that you could franchise distributor or production side of the alcohol industry, since each would be subject to either more Draconian differences in regulations.
How many stores do you have now? Oftentimes, but not always, a franchise-able business would begin with operating a handful or more of stores. Once the model proves replicable, then you can look into franchising. Again that’s a most of the time and not always. But would think being able to refine the method across multiple storefronts would help you to standardize processes/vendors/SOPs.
Worked for a guy for a while who helped a big steakhouse expand nationally and owned a few franchises. Definitely can be lucrative but requires as mentioned above a lot of ground work.
How many stores do you have now? Oftentimes, but not always, a franchise-able business would begin with operating a handful or more of stores. Once the model proves replicable, then you can look into franchising. Again that’s a most of the time and not always. But would think being able to refine the method across multiple storefronts would help you to standardize processes/vendors/SOPs.
Worked for a guy for a while who helped a big steakhouse expand nationally and owned a few franchises. Definitely can be lucrative but requires as mentioned above a lot of ground work.
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