Sunday, May 22, 2022

    How to turn your business into a franchise

    Expanding your business by opening new branches yourself is a costly exercise as each new location will involve marketing costs, new building leases, salaries for new employees and investment in capital equipment. In contrast, franchising a successful business can prove to be a much less expensive route to major expansion. Because each franchisee must pay a fee to start their business and must cover all the start-up costs mentioned above, your company will be able to expand more quickly, without using all its capital reserves. Each franchise then pays you a percentage of their monthly income, guaranteeing your company a profit if the initial business model is sound. You can find out more about the costs of this by looking for Franchise info who provided this infographic, explaining the positives of franchising your business. Showing that business franchises are a great business model to follow.


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