What Are We Looking For?
Business History & Experience
“Proof of concept” is key here. You need to have at least one year of financials. You’ll also need the understanding that comes with experience, as you will ultimately have to train new franchisees how to be successful in your concept. Some been-there-done-that is critical to the business expansion process. We are not looking for someone that just started a business or is thinking about starting one.
Repeatable Business Model
For business expansion to work, your business concept must be repeatable, or “franchiseable.” If you can envision your business—rather it be product or service related—having 300 or more locations or units, how easy is it going to be for those franchise owners to learn, understand, and execute your business?
Flexibility & Open Mindedness
Sometimes concepts we evaluate might need to have some adjustments to fit into a franchiseable model. Therefore, you must be flexible and willing to consider some adjustments to your business as you know it. Sometimes, even your name or “brand” might need adjusting.
No Storefront Necessary
You don’t have to be a bricks-and-mortar business (i.e. restaurant, auto repair center, etc). While we have had many successful partners in this area, it is important to know that franchising is much larger than McDonald’s and Victory Lane. Many businesses concepts are able to grow into successful franchises without a physical storefront.