Franchising

McDonalds does it.

Hotels do it.

Lot’s of industries do it.

Is it possible to franchise your business? It doesn’t have to be in the traditional sense. As an example, you are a soccer coach who runs a successful soccer camp. You would like to do camps in other parts of the country, in order to make more money but you don’t have name recognition or many contacts in these other areas. Why not partner with someone where they represent you in that area (you would have to be careful that they do so in a way that makes you proud). They would use their name and contacts to help market your camps. You then go in and do the actual camp and then do a revenue share with this person (I realize this isn’t a real franchise model but it works nonetheless).

Could this work in other industries? Sure. If you are a web design firm, why not partner with marketing agencies around the country where they do the sales and customer interaction and you do the design work?

This might not work in all industries but it would work in more than people are currently thinking.

Just something to think about.

Have a great day!

Lawrence

Discussion Area - Leave a Comment