So where do you start? At Billmar Consulting we have developed a model which takes you from the initial question – Is this for me? right through to the recruitment of your franchisees. We don’t just tell you what to do we do a great deal of it for you/with you. Our model is broken down into 5 phases;
Phases 1 – 4 are about preparing your core business and ultimately your franchise business ready to present it to potential franchisees.
Phase 5 is about recruiting your franchisees.
What does that mean?
By the end of phase 4
- Your core business will be “franchise ready”.
- Your franchise proposition will be developed.
- Pilot phase will be complete.
- All your documentation will be prepared.
- You will have defined your “successful franchisee profile.”
- Your marketing strategy will be in place.
- The proposition will be presented to a high street Bank to secure confirmation of funding support for potential franchisees.
Phase 1 – Initial feasibility study. This phase is about assessing whether or not franchising is the right growth strategy for you. If together we decide that franchising is right for you we will work together to develop your franchise business and project plan.
Phase 2 – Preparing the core business. You’ve probably heard it said that a house looks its very best just before the owners put it on the market. Franchising your business is similar, getting your business into the best possible shape before you offer franchisees the opportunity to invest and replicate what you do will ensure you are making the most of the financial opportunity available to you. This phase focuses on your core business to ensure that your franchisees and have a model that is at its most efficient and profitable.
Phase 3 – Preparing and testing your franchise proposition Up until the point of franchising your business you competitors are likely to be other suppliers of similar products and services to you. However when you franchise you introduce new competitors to your world. That is, the other franchises in the market. This phase is about developing a franchise proposition that will make you stand out and attract the right type of individuals. Once you have developed your franchise proposition you need to test it. Your pilot operation will allow you to get a temperature check on what you are offering and also test your franchise systems, processes and support systems prior to rolling it out nationally.
Phase 4 – Preparing the documentation There are a number of documents that need to be in place prior to launching your franchise. We will guide you through what is required and in many cases write them for you/with you. The following list will give you a flavour of the type of documentation required;
- Franchise advert
- Franchise prospectus
- Discovery day hands outs and presentation
- Financial illustrations for issue to prospective franchisees
- Operations manual
- Training material
- Franchise agreement
Phase 5 – Develop franchise network You are now ready to launch your franchise. This phase is about recruiting your franchisees. One of the critical success factors for your franchise will be to recruit individuals with the right attitude and skill set to ensure the success of their business and yours. At Billmar we have developed comprehensive recruitment strategies. We can train you in how to do it yourself or we can do it for you.