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  • Do-It-Yourself Franchising Is For Dummies

    Learning from the experience of others makes good business sense. Just because you launched your business on your own doesn’t mean it’s a good idea to set up a franchise program without outside help.

    Vernon Sanders once said that “Experience is a hard teacher because she gives the test first, the lesson afterward.” Learning from the experience of others is not only wise, but it makes good business sense, too. Even if you have to pay for it.

    It is an exciting step for entrepreneurs when their business is strong enough and there is enough market demand to start planning to open franchises. Dreams of McDonald’s-like growth and profitability flood the mind.

    But Mark Siebert, founder of the iFranchise Group cautions potential franchisors that ogranizing a franchising structure is not a “paint-by-number” proposition.

    According to Siebert, just because you launched your business on your own doesn’t mean it’s a good idea to set up a franchise program without outside assistance.

    For all the change that has occurred in the world in the last 15 years, when it comes to human nature, things are very much the same. Not a month goes by that I don’t meet a prospective franchisor who believes that using outside help is a waste of money.

    Developing a franchising plan is a complex ordeal. It requires strategic planning, competitive research, financial analysis, as well as legal documentation that most companies are not able to sufficiently deal with in-house.

    Consultants can provide expertise and experience that most entrepreneurs have not yet gained. They can do the “heavy lifting” while he or she focuses on running the business. If time is money (and we all know that it is), doesn’t it make sense to hire experts to tackle the areas in which the business owner is lacking?

    Getting the job done right can save million-dollar headaches down the road.

    Mark Siebert has written several in-depth article exploring these issues. If you’re interested in franchising, or you think you may be interested in the future, read “The Dangers of Do-It-Yourself Franchising.”

    You’ll be glad you did.

    Upstart: Business and Management for 20-40 Year Old Professionals

    Filed Under: Startup/Entrepreneur


    About the Author: Donnie Bryant is a direct response copywriter and marketing consultant. He specializes in improving businesses' sales and profitability by creating compelling marketing messages and strategies. Find out more about Donnie at http://donnie-bryant.com. You can also follow him on Twitter at @donniebryant and connect with him on Google Plus at +donniebryant.

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