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Franchise Your Business

The Guide To Employing The Greatest Growth Strategy Ever

By Mark Siebert
13-minute read
Audio available
Franchise Your Business: The Guide To Employing The Greatest Growth Strategy Ever by Mark Siebert

Franchise Your Business (2016) reveals the ins and outs of setting up a business franchise. From winning over franchisees to ensuring your brand’s quality across branches, these blinks are a practical guide to franchising, helping you to scale up your business with a powerful growth strategy.

  • Business owners looking for ways to grow their brand
  • Managers curious about the inner workings of franchise owners
  • Anyone interested in classic business strategies

Mark Siebert is an expert in franchising and founder of iFranchise Group, which specializes in franchisor relationships. Throughout his career, he has worked with companies like McDonald’s, Subway and Nestlé. He has also worked as a lecturer at Northwestern University and the University of Chicago.

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Franchise Your Business

The Guide To Employing The Greatest Growth Strategy Ever

By Mark Siebert
  • Read in 13 minutes
  • Audio & text available
  • Contains 8 key ideas
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Franchise Your Business: The Guide To Employing The Greatest Growth Strategy Ever by Mark Siebert
Synopsis

Franchise Your Business (2016) reveals the ins and outs of setting up a business franchise. From winning over franchisees to ensuring your brand’s quality across branches, these blinks are a practical guide to franchising, helping you to scale up your business with a powerful growth strategy.

Key idea 1 of 8

Franchises are built on mutually beneficial relationships between business owners and their franchisees.

When it comes to modern business, franchise structures are everywhere. Many businesses today increase their market share and expand across new areas by creating a franchise.

So what is a franchise exactly?

A franchise is a partnership between a franchisor and a franchisee. A franchisor is typically someone who already owns a thriving business. Franchisors create a contract that allows another party, the franchisee, to copy and use the existing business model. And with that, a franchise is born!

Hold on, you might be thinking – why would any aspiring business owner want to join a franchise? After all, wouldn’t it be more exciting to create a unique business of one’s own? Sure! But starting your own business, as we all know, is tough. Becoming a franchisee, on the other hand, has a lot of perks that make those difficult first stages easier.

Franchisees can take advantage of the franchisor’s brand, trademark and customer base, rather than having to build up their own from scratch. Franchisees also benefit from the training provided by the franchisor, helping them set up and run the business as smoothly as possible. Plus, franchisors provide ongoing support in challenging areas, including finance and operations. This way, franchisees can hit the ground running and get their branch off to a great start.

Of course, franchisors don’t take care of everything for the franchisee. Franchisees invest their own money and are responsible for all loans taken to open up the new branch. They’re also expected to pay a certain percentage of their sales to the franchisor and buy supplies, from ingredients to branded equipment, from them as well.

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