Franchising Your Established Business Takes Time. And Patience.

In New Zealand, Dr. Callum Floyd is the guy. (When if comes to all things franchise)

Dr. Callum Floyd

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I’ve been reading his detailed articles for years, now. He gets it. Here’s what he wrote to his New Zealand audience about franchising a business;

“Creating a franchise system of quality is a complex, time consuming and expensive task. Franchisors need to excel in not just one market, but two. First is the market for franchises; second is the market for end-users of the products and services. Therefore, the franchisor must develop a business concept that is attractive to customers and profitable enough to generate sufficient returns to franchisor and franchisees over the long-term. Also, the franchisor must develop a franchise format that is attractive to prospective franchisees, effective in replicating the original business concept, and provides franchisees with the ongoing support and skills necessary to meet the changing needs of customers and the wider market environment.”

Read the rest of Dr. Floyd’s post, and bookmark it, if you’re even thinking about taking your established business to the next level; the franchise level.