Advice for Franchising a Business

Part of the Video Series How to Franchise Your Business

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Run a better small business! Learn the key factors of franchising your business in this free video clip.

Contact: www.timricke.com

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Advice for Franchising a Business
Hi! I'm Tim Ricke, former entrepreneur of the year, on behalf of Expert Village. It's time to sum up what we've produced in the other parts of these segments. What we have here are several components. One; duplicatable systems. Every time you have a system you want a duplicatable so whoever takes over that job or whenever that job is done it's a duplicatable system. Think about McDonald's. Think about all of the restaurant chains. Everything is an exact duplicatable system so that if an employee leaves, they fly someone right through the school and they're ready to right to work. It doesn't make any difference who the employee is. You hear it time and time again, you've heard it for years; I can't find any good people. The reality is you don't have a good system for the people to make them good. Do you know of an employee that wants to go to work and not do a good job. They all want to do a good job. Give them a system to work by. If you give them the system you're going to have one fantastic employee and you're going to say that's what happens there. Journalize everything you do until you quantify it down to the point where it's totally fine. As I mentioned earlier, orchestrate it. Tie in your marketing to your scripting on the phone, to your employee training system, to your call back and taking that customer to the next step. All of those have to be tied together in one big system. Scripting to marketing to school to delivery of the product. These are the things required to franchise your business. There's only one thing left to do if you've done all of these things. It's time to call a lawyer.

About the Expert

Expert: Timothy Ricke is a past "Entrepreneur of the Year." He began his first business with $13.68. He developed into a franchise that sold for $500,000. He is a business coach, writer, and vocalist. Read More