Costs in Franchising
Understanding the costs in franchising is an important step in evaluating the right path when selecting a franchise development team. There are many phases when it comes to franchise development and no two companies are the same. Some offer only the necessary legal documents and others provide full-service from development to sales. To truly compare franchise development companies, you must insist on a detailed proposal from each firm, so you know exactly what you are getting for your dollars.
You also need to take into account the type of business you own. Full-service, sit down restaurants are the most expensive businesses to franchise. There are a lot of moving parts and costs involved with restaurants; inventory, recipes, point-of-sales systems, kitchen equipment, cleaning procedures, back-of-house and front-of-house policies, etc. If you are in the service industry where a potential franchisee can work from home, then the cost to franchise this business is much less. When looking at pricing a franchise system, we take into account the all the moving parts and costs involved with your business.
Prior to even talking about the price though, we make sure your business is franchisable. Not every business model can be franchised. We have a vested interest in your success and we want to see your model succeed. We take the time to learn about your business and get to know you, too.
Our goal is to build complete, responsible franchise systems that become enduring brands where all parties benefit; you, your franchisees, your vendors and most importantly your customers.