5 Steps to Starting a Franchise – Failure is Not an Option

Starting a business is one thing, here's how you take it to the next level without things falling apart

  • Have a plan for recruiting franchisees.

Don’t forget franchisees are a significant part of the franchise system, so a sound recruiting structure must be in place to attract them. Brewer says businesses should ask, ‘What would make a prospective franchisee decide to go into business with me? What is my plan for recruiting?’ In addition to making sure your business concept is solid, your contracts are fair and you offer ongoing training and support to your franchisees, consider having a “discovery day,” where prospective franchisees come to learn more about your business. This gives you an opportunity to make a good sell and see if those interested in your company will be a good fit for catapulting your business toward franchising success.

For more on franchising your small business pick up the April 2011 issue of Black Enterprise.

Ready to take your small business to the next level? Join us at Black Enterprise’s annual Entrepreneurs Conference, taking place May 22-25, 2011 in Atlanta, Georgia. Visit blackenterprise.com/ec for more details. As an incentive BE is offering you a discount on early registration: Just enter code BEDG295 and receive $200 off.

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