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Can the business model be easily trained? There's no point in having a profitable income opportunity if it may not be duplicated by your franchisees. A training package must b...

The first step in franchising your business opportunity is to begin by studying your business model. Can it be profitable after allowing for your franchise fees? If it's worthwhile and has well defined objectives to exploit the possibilities available in the market place you then are ready to move to next step.

Could the business model be easily taught? There is no point in having a profitable home based business if it could perhaps not be duplicated by your franchisees. A training package must certanly be created that assumes that the franchisee does not have any previous business experience.

Next step is to produce a detail by detail and well laid out operators manual. This should be split into two parts: one section for the franchisee and one section for the personnel of the franchisee.

Step four is to decide on the original franchise fee and the ongoing royalty payments. In the initial stages of establishing the company franchise, the franchise fee must be held at a very low level to attract the first set of franchisees. Once you've some franchisees running successfully then you will manage to increase the original payment.

Stage five is to develop a continuing support system for your franchisees. Some will need more support than others. A couple of will require more education. You will have to decide at this point who is likely to actually execute the training. Many franchisors outsource the training aspect to a professional training company. Which means they can give attention to the critical aspect of working and controlling the company.

Stage six is to devise your franchise agreement with the aid of a significant franchise attorney. There's number point in cutting prices as this may become the basis of your business opportunity.

Stage seven is always to develop all the advertising material including brochures and video displays to promote your franchises. You'll also need to choose where you are going to market your online business. There are now a multitude of mediums where you can encourage your franchise which range from franchise exhibitions, franchise magazines and franchise internet sites. Many businesses also advertise their operation giving in the national media.

Bear in mind that the above actions is likely to be under constant development as the franchise network grows. All the marketing material, constant support and training must be created as weaknesses are discovered.

A number of the franchisees will have to be treated like young ones because they will never have maintained a business before. Not merely will you have to teach them how to mange your business but in some cases you'll have to also educate them into how to use a computer and basic accounting skills.

Eventually, a method will have to be created to handle franchisees that are considered inappropriate when they began managing their business. Until they really start running their business regardless of how detailed the recruiting system is, it will be very difficult to weed out all the unsuitable candidates.

Providing full constant service, teaching them properly in every your systems and choosing the best franchisees must reduce the numbers who wind up failing as business people. site