SMB Franchise Advisors

It&#8217;s a misnomer that you need multiple locations before franchising a business model. Franchising offers business owners a way to expand their company without having to run multiple locations on their own. Steve Beagelman, president and CEO of <a href="http://smbfranchising.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=is-it-time-for-me-to-franchise-2672" target="_blank" rel="nofollow" target="_blank">SMB Franchise Advisors</a>, shares a few tips for brands to consider before expanding their model through franchising. Grow Revenue Before a brand should consider expanding through franchising, it&#8217;s important to make sure revenue is growing. &#8220;You don&#8217;t want to come to a consultant and say you want to franchise your business when your sales are down,&#8221; said Beagelman. Protect Your Name &#8220;Make sure to trademark and protect your brand so no one else can take it from you,&#8221; said Beagelman. According to Beagelman, many brands don&#8217;t think to do this right away. If your company has its sights on expanding and franchising, owning the rights to the brand name will protect your company from others taking it from you. Get Systems and Processes Down You have a successful business model, make sure it&#8217;s being replicated. There is a lot more that goes into owning a franchised business than someone buying a location. There needs to be documented systems and processes so franchisees can replicate the business at their location. It&#8217;s important to write down and document policies, procedures and systems that your business uses. These documents can be used if you decide franchising is right for you, and it will aid in creating operations manuals for franchisees. Get Accounting in Order It takes a lot to get a business ready for franchise expansion. One of those things is making sure your financial house is in order. Before you consider going to a franchise consultant to start the franchise process, make sure to clean up your books and make sure everything is accounted for and all tax information is completed. Invest in People You&#8217;ve heard the saying &#8220;Surround yourself with good people.&#8221; When franchising a business it&#8217;s more important than ever. It&#8217;s imperative to have good people on your team who will help you expand the brand through franchising. &#8220;If you can&#8217;t extract yourself out of the daily operations of your business and you don&#8217;t have people who can help you run your business while you&#8217;re franchising, then you shouldn&#8217;t expand,&#8221; said Beagelman. It should also be noted, that a franchisor should also be a great leader. It&#8217;s important to have people follow you and your business model to get people to invest in the franchise opportunity.

1851 Franchise

Make sure your revenue is strong and your systems and processes are in order, an expert advises. 

This brand page has been paid for by SMB FRANCHISE ADVISORS. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

Is It Time for Me to Franchise?    

is-it-time-for-me-to-franchise

FRANCHISE INFORMATION

Contact

About SMB Franchise Advisors

5 Questions About Franchising Your Business

SMB's Services

Hear From Some of SMB's Clients

Connect with SMB Franchise Advisors

Learn

Visit Website

SMB FRANCHISE ADVISORS

Our Founder

LinkedIn

Facebook

SOCIAL MEDIA

Forbes: How (And When) To Franchise Your Business

Forbes: How To Create And Maintain Strong Franchisor-Franchisee Relationships For The Long-Term

Forbes: What to Consider if You’re Thinking of Opening a Franchise

SMB FRANCHISE ADVISORS MOST READ STORIES

LOGIN

ABOUT SMB FRANCHISE ADVISORS

CONTACT SMB FRANCHISE ADVISORS

facebook

linkedin

First Name

Last Name

Email

Phone

Street Address

City

State / Province

Zip Code

Contact SMB Franchise Advisors

Forbes: Why Franchisors and Suppliers Should Attend This Year’s International Franchise Association Conference

forbes-why-franchisors-and-suppliers-should-attend-this-years-international-franchise-association-conference

IFA: We Are Officially a Franchise… Now What?

ifa-we-are-officially-a-franchise-now-what

Forbes: Three Pillars Of Success For Franchisors In Franchise Development

forbes-three-pillars-of-success-for-franchisors-in-franchise-development

Franchise Dictionary Magazine: U.S. Military Veterans And Franchising Are A Perfect Match

franchise-dictionary-magazine-us-military-veterans-and-franchising-are-a-perfect-match

Is It Time for Me to Franchise?

MORE STORIES LIKE THIS