Sherpa Group’s Top 10 tips for becoming a franchisor

The Sherpa Group franchise business consultants offer ten tips for starting a new franchise business.

1. Be Amazing - The decision to turn a successful business into a start-up franchise needs to be made around the businesses success. Having the largest market share amongst competitors is a good indication franchising may benefit the business.
2. Be unique - Start-up franchise systems need to contain something different, unique or exciting to be successful.
3. Be courageous - Franchising may require business owners to start from scratch in terms of their business knowledge, specialised franchise information and the risks involved in making the switch.
4. Be humble enough to copy - It is important to offer products and services that are different from competitors, however proven operating systems and practices can and should be adopted for new start-up franchises.
5. Be creative - Strong franchise growth and profitability will come from an innovative franchise business model.
6. Be prepared - Can the business meet the requirements as set out in countless franchising magazines?
7. By the book - Systems, procedures, marketing, technical and financial guides need to be documented and comprehensive training and instructive manuals need to be developed.
8. Be energetic - Franchisors have the task of inspiring their franchisees by bringing energy and passion into the role and continually reinvesting in the franchise network
9. Be compliant - All legal documentation needs to be prepared by an experienced franchise lawyer and comprehensive compliance manuals need to be instilled.
10. Be willing to use advisors - Great advisors are able to guide new franchisors through the start-up franchise process.

Contact Sherpa Group to find out more and receive a free Sherpa Guide which includes helpful tips on starting a franchise or buying a franchise.