At the Globe and Mail's Small Business Summit last week in Vancouver, one of the attendees pulled me aside and asked a question about franchising, which was the topic I was covering.
In my experience, people are more inclined to ask questions on a one-on-one basis than in a crowded room during a presentation. She asked a simple but fundamental question: “Why would I franchise my business?”
Before I answered I asked, in the abstract, whether the business was inherently “franchisable.” There’s a reason why franchising is a regular method of expansion in the restaurant and retail sectors: they are made up of businesses that can be “replicated” in different locations and regions. If you can standardize your operational systems and “manualize” them so they can be taught to others, you’re a good candidate for franchising.
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