Franchise Development – Becoming a Franchisor
Are you poised for growth using the franchise model? Do you know a business that wants to become a franchise? The Jensmart Franchising team provides a turnkey service to take an existing business from start to finish with their franchising methods.
Our team provides a turnkey solution that includes:
Franchising is very effective way to grow and expand your business without having to invest the capital required for internally funded growth and an increasing number of businesses are choosing franchising as the most effective way to distribute their products or services.
Franchising has experienced tremendous growth and each year an increasing number of people are opting to buy a franchised business because it reduces their risk and provides them the greatest chance of success. More franchised businesses are sold and opened each year than any other type of business.
For emerging brands who wish to grow through strategic franchise development, Jensmart Franchising will transform their successful businesses into thriving franchise systems by providing all the services required to turn a business into a franchise, as well as provide the services to successfully market and sell the franchise to prospective franchise buyers.
The very first step is to determine if a business is franchiseable. Jensmart Franchising will conduct a Franchise Assessment Study to determine if the business is ready to be franchised. If it is determined it is not, a detailed report on the steps required to get there will be provided.
Franchise Assessment Study
Not all great businesses make good franchise opportunities so it starts with an assessment study. For a one-time assessment fee, Jensmart Franchise Development team will do an in depth consultation and study of this business to determine if this is a “franchiseable” model.
a. Is the business repeatable, sustainable, with proven systems in place?
b. Is the business profitable?
c. Is there at least 3 years of operational history?
d. Is the business unique and timely?
e. Is the business adaptable to different regions of the country?
f. Is there a management team in place capable of supporting franchisees?
g. Can the business be easily taught to others?
h. Is the business affordable to buy and operate?
i. Are the skill sets required to run the business reasonable?
j. Can the business name and trademark be federally registered?
k. Are there compelling reasons why someone would want to buy this franchise?
l. Is there sufficient capital available to franchise the business plus to market the new franchise brand?
m. Do the founders / directors have felonies, bankruptcies, law suits that need to be disclosed?
Should this business not meet our basic requirements we will provide a useful report to assist the business owner as to reasons why and offer suggestions on goals to work towards.
Provided we do determine this business does have strong potential to become a thriving franchise, the Franchise Development team will offer a turnkey service to franchise this business for a flat fee which includes the Franchise Assessment Study.
If the business is franchiseable, Jensmart Franchising can provide two service packages:
1) Franchise Development Services: Turning your business into a franchise.
2) Franchise Sales/Marketing Services: Perform all the sales and marketing functions to prospective franchise buyers.
Franchise Development Services:
a. Advise on business entity for the Franchise Parent Company.
b. Develop the Franchise Disclosure Document (FDD).
c. Formalize operations and systems through creation of an Operations Manual.
d. Prepare opening financial statements.
e. Create budget for franchise development and sales activities.
f. Advise on agreements with suppliers for the support of franchisees.
g. Identify key players that will be involved with supporting franchisees during sales cycle, training and support.
h. Define and implement a franchisee target market and a formal franchisee acceptance process.
i. Territory definition and mapping.
j. Create framework for candidate evaluation and processing.
k. Create Discovery Day structure.
l. Co-develop the training system and manuals for the uniform training of new franchisees.
m. Provide content and functionality consulting on the franchise parent company sales web site.
n. Franchisee Lifecycle Readiness Assessment, planning for the needs of the franchise system 3, 5, and 10 years into the future.
Note: **Additional services and cost will be required to finalize the franchising process to be performed by a qualified franchise attorney
Franchise Sales/Marketing Services:
a. Create franchisee application and process.
b. Define required franchisee required skills, background and financial requirements.
c. Create franchisee validation procedures.
d. Implement system for territory checks and candidate pre-registration.
e. Install a Franchise Sales Manager to coordinate activities with the internally generated leads and broker/consultant networks.
f. CRM system setup for processing and reporting on candidate pipeline.
g. Implement franchise sales advertising on key portals, magazines and identify key trade shows to participate in.
h. List franchise offering with key broker/consultant networks
i. Create broker network on-boarding documents, 2 minute drill and virtual brochure, email campaigns and on-going webinars for broker/consultant education.
j. Qualify all prospects, manage and coordinate the franchise sales process, contract negotiation, Discovery Day coordination and participation, close the franchise sale.
We are experts in franchise development and love what we do! If you are a business that has a serious interest in expanding through franchising, please use the form below to submit your information. A member of our executive team will contact you to discuss our services and next steps in the process.