The Franchising Audit
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Many businesses think of franchising as a way of achieving rapid growth at very low cost. This means that a decision to franchise is a strategic business and a strategic marketing decision. It has major implications for the future of the company. The Franchising Audit explains the different types of franchise, and the advantages, disadvantages, costs and responsibilities associated with each of them. It then sets out a self-assessment framework to let you decide whether your business can be franchised, what kind of franchise would be appropriate, and whether it has the structures in place for ...
Many businesses think of franchising as a way of achieving rapid growth at very low cost. This means that a decision to franchise is a strategic business and a strategic marketing decision. It has major implications for the future of the company. The Franchising Audit explains the different types of franchise, and the advantages, disadvantages, costs and responsibilities associated with each of them. It then sets out a self-assessment framework to let you decide whether your business can be franchised, what kind of franchise would be appropriate, and whether it has the structures in place for a successful franchise operation. It also highlights the problems and opportunities you are likely to face. Finally, the audit offers a series of models to help plan your "financial trajectory", develop documentation and franchise agreements, and interview, recruit and train franchisees. The audit is broken into 8 separate stages: 1.Self-Assessment 2.Financial Modelling 3.The Franchise Agreement 4.Pre-Launch Materials 5.Recruiting Franchisees 6.Selecting the Right People 7.Training 8.The Pilot Test Dotted throughout the audit, you will find brief case studies, questionnaires for the audit team, worked spreadsheets and tables, assessment forms and checklists. Together they offer an engaging and effective way to understand and analyse both the pros and cons of franchising and your company's readiness - if you decide to follow the franchising route.
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