OK… I want to grow my business! But what’s my next step?

Have you reached a point in your business where you need to make a key decision and invest in your next growth stage? But are you unsure about which route to take? You could open more premises, employ more people… but there is only so far you can go, without reaching the same point you are currently at – only on a larger scale. This would also mean you would be using your own finance, to fund your growth. Or, you can turn your brand into a franchise.

Franchising is fast-becoming a popular growth model for businesses like yours. No longer associated just with fast food restaurants and coffee shops, the franchise industry now represents a wide-variety of sectors. Whatever sector your business operates in, franchising is worth you taking a look. Within the franchise sector, we have franchisors operating a franchise in domiciliary care, professional services, property, hospitality, children’s services, retail and so much more.

How does franchising help me scale my business?

Franchising helps you scale your business by allowing you to expand without taking on all the financial risk yourself. Franchisees invest their own money and run their own locations, allowing you can expand while benefiting from their local expertise. Plus, since franchisees are motivated to make their locations succeed, you get the advantage of passionate owners managing the day-to-day. It’s a win-win: you grow your brand faster, share the risks, and enjoy cost savings from economies of scale.

The benefit of franchising to you, personally

Whilst we can’t cover EVERY benefit, and would definitely recommend you speak to a franchisor about their journey, here are a few of the main advatanges to growing through franchising:

Franchisee’s commitment
From your perspective, as a franchisor, the biggest value in your franchise, is having independent business owners who have contributed their own investment into the business. Meaning you don’t have to pay for new premises, extra staff, etc. And, because your franchisee has committed financially, they have a personal financial stake. Unlike employees, franchisees are highly motivated to succeed, ensuring better customer service, stronger brand representation, and higher performance levels.

Shared financial risk
One of the biggest advantages of franchising is that you can expand without using your own capital. Instead of financing and managing new locations yourself, franchisees invest their own money to open and operate their units—allowing for faster growth with less financial risk. This enables you to meet increasing demand, through the franchise network, and increases the brand value; not just where you’re based. But, wherever your franchise is in operation.

A business savvy driven partner
As a franchisor, you’ll identify the ideal profile of someone you’d like to see join and represent your business; with careful target marketing, you’ll soon attract the right investor. Often franchisees have their own experiences which can prove to be valuable to the evolution of your brand. For example, the McDonald’s “Big Mac” and “Drive-Thru” were both ideas which came from a franchisee. Plus, franchisees have local knowledge, networks, and an understanding of their market, allowing them to tailor their business approach to the area’s needs. This often leads to stronger customer relationships and better brand presence.

Collective ambition
The main advantage of franchising is having a shared goal. When choosing prospective franchisees you’ll want to select people who align to your brand’s overall mission, vision and values. Then both you and your franchisees will be committed to seeing the brand’s growth, social impact and customer satisfaction. A burden shared… is a burden halved – and you have fun on your new path, together.

If you aren’t certain about the genuine benefits of franchising, now is definitely the right time to speak to any of us within the franchise industry, and see for yourself what you can achieve.

Is Franchising the Right Growth Strategy for You?

Franchising is a powerful way to scale while minimising risk and maximising profit potential. If you have a proven business model, strong brand identity, and demand for your products or services, franchising could be the key to taking your business to the next level!

OK… I want to learn more! What’s my next step?

Step:1

Fill in your details to download our free “Curious Women’s Guide to Franchising”

Step 2:

Let us explore this next stage together. Contact us at EWiF to see if we can connect you with someone as you find your tribe and start your own franchise journey.

Step 3:

EWiF host Regional Meetings throughout the year where you can speak to real franchisors, and service providers, to help you discover more about the benefit of franchising for yourself. Find the next meeting in your area.

Read more on our blog…

OK… I want to learn more! What’s my next step?

Step:1

Fill in your details to download our free “Curious Women’s Guide to Franchising”

Step 2:

Let us explore this next stage together. Contact us at EWiF to see if we can connect you with someone as you find your tribe and start your own franchise journey.

Step 3:

EWiF host Regional Meetings throughout the year where you can speak to real franchisors, franchisees, and service providers, to help you discover more about the benefit of franchising for yourself. Find the next meeting in your area.