Karriere im Start-up
Franchising von Start-ups
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How to be a successful franchisor?
Do you have a great business and are thinking about franchising it? The following article presents a list of factors that will help you become a successful franchisor. The first important thing is to be very selective in establishing franchisee relationships; treat franchisee applicants as if you were hiring them as a management employee in your company. Also think of additional revenue streams next to the standard franchise fee like for instance the sale of goods or services to the franchisee. In addition, on-going services like training or advertising assistance will create multiple revenue streams. A great success factor is the uniformity of your business: Try to build every shop or store as uniform as possible and the customer will value the consistent experience. Implementing policies and standard procedures as well as inspections and audits will help you maintaining high quality standards. However, franchisors should also try to create a system that allows some degree of creativity and innovation as franchisees are often a good source of inspiration when it comes to business model improvement.
For more advice on how to franchise your business, please click here.