The 3 Must Dos for Nationwide Franchise Expansion
By Tim Frye
Expanding your franchise can be an exciting, trying, and daunting process undeniably. There is a certain methodology of franchise expansion that is obviously more effective than others. This article will discuss the top three ways to expand a franchise nationwide correctly and effectively.
Establish Prime Flagship Locations for Visibility
Most people are familiar with the old axiom location, location, location. Well that adage is no more than true than when you are evaluating franchise opportunities and where to place your offices to enact your nationwide expansion.
Look for the spots with the most amount of visibility, and preferable ones that sit on consistently trafficked boulevards. This may seem like an obvious point, but it is paramount to your ability to expand.
Placing an office in a questionable location that isn’t due any major traffic will hamper your first years of business there, and therefore subsequently could mar any further attempts to expand into more locations.
Choose the Right Partner
You wouldn’t want to hit the dance floor with someone who can’t dance, and it’s no different in the avenue of business. When evaluation is underway for your next franchisee, place a tremendous amount of emphasis on the potential person’s level of integrity and business acumen.
Also be sure to take into account their business past and whether they produced consistently positive results.
Start Franchise with Your Own People
It would most prudent to enter into this new phase of the franchise with current or past employees as your new franchisee. You know them, you can at least trust their performance, and they are very familiar with your system and it’s intricacies.
Overall, the task of expanding your franchise can be demanding in the least. It is crucial to have a solid groundwork on which to begin with, because the competition is fierce. Good luck my friend.