Stage Six

How to Franchise Your Business

Online Course

Overview

This course enables business owners to determine the suitability of franchising for their business and understand everything that will be involved in taking this journey. The course has been designed to provide foundational knowledge before more detailed analysis and preparation is undertaken. It is the perfect first step before investing in franchise consultants, lawyers, and accountants to help you develop your new business of franchising your existing business.

Who should take this course?

  • Anyone interested in learning what type of investment is required in becoming a franchisor

  • Existing business owners interested in expanding using the franchise model

  • Entrepreneurs thinking about buying a franchise business (becoming a franchisee)

What are key learning objectives?

  • The ability to understand available alternative business expansion options

  • Knowledge of specific franchising requirements

  • Sufficient understanding to assess the suitability of franchising for your business

  • Knowledge of specific skills required to be a successful franchisor

  • Understanding the steps to franchising your business

How long does it take to complete the course?

  • The class will take approximately 10 hours to complete and you will have 12 months access to the program so you can revisit the program as many times as you need.


Details

How To Franchise Your Business

Module One – Introduction to, and understanding, the alternatives

  • Overview of the alternative business options such as organic and investor growth, agency and distributor arrangements, and licensing

  • Explore why franchising might be the appropriate model to pursue

  • Examine key determining factors such as motivation and constraint

 Module Two – Franchising Considerations

  • Highlight areas for consideration when assessing the suitability of franchising for your business, including market demand, competitors and scalability of systems

  • Understand the need to establish two businesses – the franchisor business and the franchisee business

  • Acknowledge the commitment required and the long-term nature of the relationship

  • The implications and expectations of franchise fees

 Module Three – Specific Franchising Requirements

  • Highlight specific obligations and requirements involved in franchising

  • Understand the legal and ethical obligations of franchisors

  • Introduction to the Franchising Code of Conduct

  • Importance of franchisor and franchisee documentation and systems management

  • Broad business knowledge and mentorship and the ability to support franchisees

 Module Four – Skills Required to be a Successful Franchisor

  • Overview of the specific skills required to be a successful franchisor

  • Provide personal insights into participants’ relative strengths and areas for improvement

  • Examine business strategy, planning and execution and finance management

  • Understand your market and effective marketing

  • Importance of brand stewardship, product innovation, operational and support systems

  • Managing relationships with franchisees, suppliers and customers

 Module Five – Important Steps to Franchising Your Business

  • Identify the important steps required to successfully franchise your business

  • Provide sufficient understanding to facilitate the journey to franchising success

  • Develop the compelling concept and the franchisor-franchisee business model

  • Establish a pilot franchisee operation

  • Develop franchise management systems

  • Recruiting franchisees and franchisee funding

  • Manage the brand and the business

 Module Six – Your Action Plan to Franchising Success

  • Learn from previous modules to develop an appropriate action plan for your business

  • Assist in the development of an immediate action plan to continue the franchise journey

  • Is franchising right for your business? Are you right for franchising or do you have the right product and necessary skills to succeed in franchising?

  • Can you develop the necessary systems and documentation to assure success for the both franchisor and the franchisees?

  • Can you manage the franchise into the future? Do you have access to the necessary finances?

  • Examine the need to undertake further research and to engage an advisor.
    Develop and an actionable business plan with timeframes

 


Costs

US$695 (Purchase Here)

  • For 12 months access.

  • Get access to the course 24 hours a day, 7 days a week

  • View, rewind, fast-forward, or review each module any time