Why I Franchised My Business

It’s a tough question that many business owners face head-on: is my business ready to franchise? Although it isn’t an automatic ticket to success, CEOs we talked to say coupled with the drive and selection of the right franchisees, it’s a move that leads to rapid growth.

Take Josh York for example. He is Founder & CEO of GYMGUYZ, a home personal training company that provides convenient, customized, and creative workouts. York began franchising his business in 2014 and hasn’t looked back. In just two years, GYMGUYZ now has over 140 locations across the country and has become the fastest growing fitness concept in the United States.

“For me, franchising was a no-brainer,” said GYMGUYZ Founder and CEO Josh York. “I love the franchising business model in general and specifically felt it was the right model for our concept.”

So what are the benefits? Just ask Buzz Franchise Brands CEO and President Kevin Wilson. Wilson also serves as CEO and President of Mosquito Joe, a mosquito control treatment franchise that provides services to both residential and commercial customers nationwide. Wilson says the biggest benefits of franchising are lower costs, faster expansion and building a core team that has your brand’s best interest at heart.

“First, meeting lots of new people who have great ideas and helping them achieve their dreams of being a successful business owner. Second, we are able to grow a lot faster than if we attempted to do this with company-owned territories,” Wilson said.

York agrees the biggest benefit to franchising is building your team. Franchisees are normally well established as part of the local community which can give them an advantage in gaining new business at a local level and penetration of the market.

“Franchising GYMGUYZ helped me meet some great people, people that were perfect for my business. One of the greatest keys to success is having people on your team who can make you better, give you advice and feedback. It adds great value to your brand,” York said.

While franchising has brought both York and Wilson success, it takes much preparation and drive. CEOs we talked to say if you’re going to take the plunge, check all of these steps off of your checklist: consider your concept, check your financials, gather market research and prepare for change. Wilson suggests doing extensive research on your target markets before you make your key hires.

“It all begins and ends with the economics of a single territory. This means that the size of the investment required to commensurate with the earnings potential of the business, including how quickly the business can break even and then get to steady state producing attractive income for the owner. If one can consistently demonstrate this over and over, recruiting good franchisees will not be a problem,” Wilson said.

York says franchising was the best decision he has made for his business, but it’s a move that comes with much research, hard work and dedication.

“Your business model and infrastructure have to be on point and unbreakable. It’s important to make sure your system is in place, tested and tried. If you’re confident in all of those categories, take the risk. It’s worth it,” York said.