Franchising can take a small business and make it a nationwide brand. Small business owners around the country have discovered that franchising has helped them grow their brand exponentially. Whether you are a small business owner thinking about expansion, or a franchisor frustrated with growth, our team at Winmark Franchise Partners may be able to help.
If you own a small business and you want to franchise but you aren’t sure how to proceed, there are a few considerations before you make the move. A successful franchise should start with a business that offers either something totally new to a customer or something familiar with a twist. The business should be something that is easy enough to replicate in other locations across the country.
Be aware that operating as a franchisor versus running your business as an entrepreneur are two very different businesses with completely different skill sets required. Franchising is a simple model but challenging to execute given the complexity of the contractual relationship with your franchisees. Having help as you begin can be very beneficial. Our team is here to help every step of the way.
Why Franchising is a Good Move
Franchising a small business can be very successful financially and personally rewarding, knowing you are creating businesses and jobs with your franchisees every day. There are many reasons to franchise:
- The ability to scale and grow quickly as access to capital and people is exponentially larger with a franchise system.
- People are more likely to start a franchise rather than their own business due to the successful model, the track record of prior success and the support from the franchisor, all demonstrating a higher return on investment and lower risk profile to the prospective franchisee.
- Increased brand awareness and a successful business model will lead to a stronger brand promise delivered to consumers and a solid reputation with your customer base, creating long-term success for both franchisor and franchisee.
Winmark Financial Partners has expert consultants who are here to help expand your business. The goal is to help you build a strong and sustainable business model that can easily be replicated to grow with the right partners using their capital and skill sets.
As the franchise grows, needs will change. Our advisors will be there to help reshape the business and adapt to those changes. Operational issues and infrastructure shortcomings can cause setbacks and delays in growth. You won’t have to worry about this because you’ll have help from qualified professionals who understand the bumps in the road and the best ways to overcome them.
Franchising a small business can be a daunting experience. It doesn’t have to be. There are teams of experts at Winmark Franchise Partners to help you every step of the way.
To get started, call us today.