It is time to grow your successful business and scale new heights, and you are faced with the option of going it alone or going to a venture capitalist and offering them a certain amount of control in exchange for capital. Franchising the business opens up a larger market to the new businesses with lower investment and total control of the business. There are few fundamental questions you must ask yourself, before diving headlong into Franchising.

Can your business be franchised?
For a business to be franchised it must have a standing in the market. Good press, Goodwill, and good management are the basics.

Have you done your Due Diligence?
Due diligence refers to all and any appraisals undertaken before selling or buying a business. Make sure that your financials match up to your proposal as investors will check up on your financials too.

Have you set up operational standards?
Operational standards help retain quality at across all franchisees universally. A stand operational manual that explains and teaches the business processes are essential as procedures to deal with problems like negligence allegations and consumer liability. Regular checks on facilities are part and parcel of the franchise business, after all when it comes to quality, the buck stops with you.

Can you sell your franchise?
Finally, be prepared to sell and promote your franchise. Attracting potential buyers is an art as well as a science. DVDs and Brochures are just media that helps potential buyers understand what they are buying. At the end of the day buyers are buying the vision you sell them. Buyers must clearly understand your sales, compliance and disclosure dealings.