Franchising is an exciting business expansion method. When it is properly structured and well run it provides benefits and satisfaction for both parties but it is not an easy route to riches for franchisor or franchisee nor is it a panacea for the ills of a 'sick' business.
Setting up a franchise has to be undertaken with skill and patience. The time scale for establishing the franchise system and preparing it for the market can be over a year so you have to prepare for a significant investment of your time and money. However, once the network moves into profit and achieves relative maturity, the return should make the effort and investment worthwhile. |
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