Are you wanting to franchise your business?
Have you ever wondered if your business could be franchised? How do you know if franchising is the best growth model for your business What skills do I need to be a good franchisor? These are the sorts of ques+ons that plague most budding franchisors. If you have built up your own business and want to determine its suitability to be franchised, and understand everything that will be involved in reaching that goal, then this is the course for you.
Franchising is no longer just found in its traditional domain of retailing. It has spread its wings into all aspects of consumer and business-to-business products and services, and the possibilities for franchising success are endless.
The How To Franchise Your Business Online Course has been specifically designed to provide the foundational knowledge for prospective franchisors to determine the suitability of their business for franchising, before more detailed analysis and preparation is then undertaken.
The course sets the scene for anyone interested in exploring the pathway to franchising.
The starting point is to assist in determining the suitability of franchising as a viable expansion model for your business, and then deliver insights into the long-term commitment and hard work required to make it a success, and the actionable outcomes to get you there.
By providing a better knowledge base for aspiring franchisors on what is actually involved in franchising and its suitability for their business, this innovative course seeks to set solid foundations for those looking to embark on their own franchise journey. It will also give you the foundational knowledge to brief and manage consultants.
Who should attend this course?
Anyone interested in exploring a pathway to becoming a franchisor
Existing businesses wanting to expand using franchise model
Entrepreneurs thinking about setting up a franchise business
When should you do the course?
When you’re ready to seriously asses if becoming a franchisor is right for you
Why should you do it now?
Make a start now and get the answers to your questions about becoming a franchisor. Access for twelve months will be given so that you can continue to revisit the content as move through your franchisor journey
How To Franchise Your Business Online Course modules overview
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
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.
- 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
Key learning outcomes for participants in the How to Franchise Your Business Online Course include:
- The ability to understand available alternative business 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
- Understanding the steps to franchising your business
- Receive 24/7 online access for 12 months
Professor Lorelle Frazer
Head of Business School
University of the Sunshine Coast