Bill Redfern: Starting a Franchise Business
Franchising is a unique business model that allows business owners to reach far more customers and generate substantially more revenue than they would by following traditional models. The concept has been around for nearly 50 years, and has proven time and time again to work.
But becoming a successful franchisor is not easy. Transforming a business idea into a recognizable brand name can be a long and complicated process, and typically involves sizable upfront costs. However, if a business is franchised correctly, it can expand at an enormous rate and that expansion will cost significantly less than if the company itself purchased and operated new units.