Franchising Your Business

[KristineS]

Many people here have started their businesses from scratch. Say a company, like this one perhaps, approached you about creating a franchise from your business.

Would you do it?

[vangogh]

I don't think my business lends itself to being franchised, but it's something I wondered about if I would have started my own store. I think assuming my store was doing well I might have opened a second and maybe a third. Naturally they'd need people to manage them and I suppose in time those managers may have wanted to purchase.

I don't know that I would have tried to force my business into a franchise, but if it evolved in that direction on its own I probably would have helped it along in that direction.

[greenoak]

im not sure if ours could be franchised....i sure hear a lot that we would do so great somewhere, and that there is nothing like us in their city...
but it would be very hard to teach someone how to get the interesting secondary market inventory, how to buy like jon and i do....
i would love it tho....passive income~!!!!
ann

[Aaron Hats]

Our business could be franchised and I've been asked about it but prefer not to at this point. I'd rather open additional stores (which I have plans to do) myself and slowly grow that way. As the saying goes "never say never".

Aaron

[Business Attorney]

You need to be very careful when thinking about franchising. There are a number of so-called consultants who are more than happy to take on companies who have virtually no chance of creating a successful franchise program. I would recommend that anyone talk to a number of different experienced people in the business, and not just consultants who stand to earn a fee whether or not you are a success.

A successful franchise program requires a lot of elements coming together, not just a good idea. If the elements are present, however, franchising can be an excellent choice for expanding the business under the right circumstances.