BRICK & MORTAR FRANCHISE SUCCESS: Know The Costs or Pay The Price!
Franchising requires expertise in a number of specific areas, especially when it comes to leasing space and building brick and mortar locations. That know-how is often hard earned through many costly trial-and-error mistakes. A learning curve like that can take years to get beyond, often resulting in debt, frustration, stress, and -- for some franchise owners -- failure.​​​​​​​
Based on our original brick and mortar program, we have summarized critical location-based information in the Amazon bestseller Brick & Mortar Franchise Success: Know The Costs or Pay The Price which educates entrepreneurs and franchisees about:
- Finding the right location within your assigned territory
- Finding the correct space within that territory
- Performing the right due diligence at the right time
- Successfully negotiating the lease and getting financial contributions from the landlord
- Qualifying the right architects and general contractors for the type of business you will be operating
- Qualifying and negotiating bids
- Getting new locations open without stumbling along the hard way or making costly mistakes in the process
By raising the bar in franchise education we make concise, effective, actionable information accessible so that costly mistakes are avoided, locations are opened sooner, and you start making money!
The ideal timing for reading Brick & Mortar Franchise Success is after a Franchise Agreement has been signed but before the search for real estate begins (and DEFINITELY before a lease is signed!). In most cases, this sequence fits perfectly before operations training takes place.
The insight you gain and the costly makes you can avoid will give you a comprehensive understanding of the knowledge and processes you need to know in order to create the right foundation for your company's ongoing success.​​​​​​​
Franchising is one of the most successful business models in the world because it works! At the National Franchise Institute, we are committed to helping franchise professionals succeed as they launch and grow their brands!
​​​​​​​Our team of licensed attorneys, CPAs, lenders, insurance professionals, licensed architects, licensed general contractors and other business and franchise professionals provide invaluable insight to help franchisors and franchisees succeed at every turn.​​​​​​​
FRANCHISE DEVELOPMENT & FRANCHISE SALES
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Entrepreneurs who have made the decision to franchise often find themselves spending thousands of upfront dollars to become franchisors, only to find that there's a lot more to becoming a successful franchise than having documents prepared and trying to sell franchises.
There are a few right ways to start and build a franchise and, unfortunately, a lot of wrong ways! New franchisors often make decisions and implement strategies with the best of intentions. Unfortunately, some of those decisions have a negative ripple effect years down the road simply because the franchisor wasn't able to see around the next several corners and how things would play out once franchisees became part of the equation.
With a pay-as-you-grow approach, new franchisors spend smart money at the right time to achieve short-term success and then use franchise fees and collected royalties to reinvest in value-added tools and resources that help them continue to grow. ​​​​​​​
Franchising is a great option for a lot of entrepreneurs — but not for every entrepreneur, and not necessarily for every concept.
Before you invest your life savings, find out the 'franchise-ability' of your business, how long it will take, how much it will cost, and how big you need to grow before franchising really starts to make sense for your brand.​​​​​​​
GROWTH STRATEGIES: Should I Franchise My Business?
