If you have a successful business and have determined that it is “franchise-able” meaning you have evaluated its potential and found that it can in fact be duplicated well and offer beneficial returns as a franchise, these are the next steps to take:
1. Develop a business plan
2. Devise an operations manual
3. Create training programs
4. Contract a franchise agreement (FDD)
5. Develop a marketing plan
6. Produce marketing tools
7. Undergo franchise sales training
The whole process can be completed in six months to a year depending on the concept and state registrations. For more information on franchising a business and franchising basics click here.
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