Offering your business as a franchise is one of the best ways to grow your brand.
In the United States, more than one-third of small businesses outsourced at least a small part of their company operations in 2018.
For businesses looking for the best, check out this beginner’s guide on franchise sales outsourcing. Read on to learn more.
Remember to Highlight the Benefits
When considering outsourcing for franchise growth, remember to highlight the benefits. As a new franchise, you have the power to select the location or territory of your new business.
Outsourcing also gives you the tool to harness the power of state-of-the-art technological advancements. Consider competitive technology alongside outsourcing to:
- Protect financial data
- Implement executive decisions
- Create a marketing plan
- Utilize social media
- Set up an online help desk
- Design a mobile office
To know more about franchise sales outsourcing versus franchise brokers, check out this helpful SFD Pros tool.
Know the Different Formats of Franchise
When starting a franchise, it’s imperative to know the different formats possible. There are three primary franchise types:
- Business format franchise
- Product distribution franchise
- Management franchise
In a business format franchise, the owner gives all right to trade names, business process and trademarks away with the intention to sell their service or product for a fee.
A business format franchise entails a strict contract and agreement between the two negotiating parties. Some of the biggest business format franchises in the world include companies like Starbucks, KFC, and McDonald’s.
A product distribution franchise is one that adheres to a distributor-supplier business relationship. The owner directly provides their service or product to the distributor, who then sells it.
The distributor pays an agreed fee to the owner for permission to use all trademarks and sell the product.
In a management franchise, the owner has a more hands-on approach to managing the franchise. This franchise format is perfect for the owners looking to have more control over their business.
It’s also perfect for those with a desire to implement an entrepreneurial touch in the franchise.
Create Strong Relationships
You know you believe in your business, but you want to make sure others interested in being a part of it love it just as much as you do. Be sure to create strong relationships with those interested in becoming a franchisee.
It can be a big financial and time commitment, so create a trusted and strong relationship with those around you. Be available for comments, questions, and concerns throughout the process.
The more care you show towards your franchise, the better those that work there will represent your service or product.
Franchise Sales Outsourcing
Franchise sales outsourcing can be an intimidating endeavor without the right tools. Be sure to consult with your business partners and trusted advisors before making any big outsourcing decisions.
What are you waiting for? Your franchise growth awaits!
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