Transforming Your Business Through Expert Franchise Development
Journey to Becoming a Franchisor
Once you’ve decided to franchise your business, we will present you with a propoal to devleop you franchise sytem. Upon our receipt of the signed agreement and the initial payment, our formal due diligence process starts and the time-line to begin granting franchises begins.
Additional fact finding must be undertaken and due diligence must be maintained. Entities will need to be established, operations developed, and manuals and guides must be prepared. The FDD and related documents must be drafted, presented, and then filed with the state’s staff, and any comments the staff has must be properly addressed. These activities, and a number of other tasks, must be accomplished to achieve your franchising objective.
01)
Review the company, refine objectives, anticipate risks, and formulate a strategy to achieve the desired results.
02)
Establish the formal franchise business structure that acts as the foundation for organizational development.
03)
Develop a franchise system that promotes cross-departmental communication; enhances training, tracking, and rapid knowledge transfer methods. Establish a systems that provides operational standards, and network oversight to avoid discontinuities in the franchise system.
IQ Franchising is not a law firm. We advise each of our clients to engage legal counsel to prepare the FDD, and to address possible state comment letters. We can provide introductions to legal counsel.
IQ franchising is not an accounting firm. We advise each of our clients to engage an accounting firm versed in franchise auditing practices. We can provide introductions to accounting firms.
Technology Providers. Technology is a key component to a successful franchise network. We can provide introductions to develop your enterprise system.
04)
Create marketing strategies to attract potential franchisees.
Develop a marketing plan to support franchisees in their local marketing efforts.
05)
Help create a software ecosystem that improves sales, increases efficiencies, and provides ease of access for customers.
06)
Finalize sales agent discussions, and, if applicable, begin the requested introduction process.
07)
Empowering small business growth through franchising - creating great communities everywhere!
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