As a small business owner one of the most challenging parts of expansion is the capital requirements.One option that some small business owners consider is Franchising as an expansion model.Does your business plan include Franchising as a possible method of expansion?If yes, how did you come to this conclusion? Why would your business make a good franchise?If no, why not? Is there something in your business that is non-duplicatable?Interested in hearing from successful business owners on this topic.
Franchising is currently not in my business plan either. However, it is definitely something that can be considered in the near future. The only problem that I see is that it is extremely difficult to create a new concept without it getting ripped off by a group of investors before it can gain traction.
A great example, from what I've seen, is 1-800-Got-Junk?, at first, it seemed as though everyone wanted to start their own hauling business. The name definitely stuck, which is great, but it seems risky.
I didn't include in my business plan franchising opportunities for expanding but you made me think about it seriously... My business partner really pushing hard towards it but i need more financial information and estimation about it.
By the way- You have a nice website, i may use it for consulting about franchising.
alishakcarter | Window Shopper | 9/26/2012 - 2:07 am
areas.
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