Over the decades, franchising has proven itself to be both competitive and resilient. While changes wash over the United States, franchising continues to grow as a percent of the GDP. Franchising is now a significant employer and plays an important part of the United States economy. So, how has franchising set itself apart? What makes franchising, when done right, such a powerful force? In this section, we will discuss the 4 keys to the franchise success model.
- Training and Support – These are all the things that a franchisor does for you, the new franchisee, in order to assist you in getting down the learning curve. Done well, this will save many mistakes. (Click here to learn more)
- Infrastructural Backbone – These are all the things that a franchisor does for all its franchisee on an ongoing basis and create enduring competitive advantages over time. (Click here to learn more)
- Fellow Franchisees –Your sounding board once you ‘know it all’. They are the folks that will bring you back down to earth when you are flying too high and will prop you up when you need help. (Click here to learn more)
- Exit Value – Everyone focuses on getting into business. This item is all about your ability the sell the asset that you have created. Franchise businesses tend to sell more reliably and at a higher value. (Click here to learn more)