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Preperation
"Fail to plan, plan to fail"
Preparation of collateral is key and not to take lightly. Without a robust set of documentation and a plan you will set yourself, and any franchisees you recruit, up to fail. You will need contracts, territory maps, business illustrations, marketing, advertising, prospectuses, training and induction plans.
All these things and more must be prepared. Do not underestimate the time commitment and business experience required to get the detail right at this stage.
Recruitment
"Find character, train skill"
Recruitment is the 'ever-after' of franchising; fun but sometimes frustrating! It is when all your hard work comes to fruition and your brand's value grows as your network builds. It takes a mix of skills and experience to achieve the growth of a franchise network.
Key skills include sales, marketing, legal & project management. If you do not have the experience in-house, or are already busy running your business, then you could certainly benefit from help.
Induction
"Luck happens when preparation meets opportunity"
Recruitment of franchisees is only the start. Successful induction to 'On-Board' is crucial or you can lose franchisees before you even launch them. Most will not have all the funding and need help with finance applications. Premises may be required and training will be needed. In short, Induction is a significant project to manage.
The need for experience coupled with hard work, relationship management, sales, diligence, flexibility, time and patience does not end with Recruitment!