Yes you have experience. And yes you have expertise. Now it’s time to fuse it all with a strategic, far-reaching vision for your franchise business.
An effective business plan helps everybody look to the future with full confidence. If you are eager to franchise your business – and are on the search for potential franchisees – there’s a few steps you should explore before you go ahead with the process.
Here are four tips to creating and facilitating robust vision to entice potential franchisees:
1. Think beyond the numbers
While the numbers are important think of how to deliver them differently, and don’t always harp on them. It can be very daunting and unwelcoming. Try to deliver benchmarks in an easy and digestable way.
2. Be concise
Don’t convolute your strategy. Using unclear, complicated language will lure people into the wrong hole: a hole where they get lost and lose all confidence. If you’re using industry-specific speak then take time to translate it into layman’s terms so everyone can get a grip on it. Most importanly, the more concise you deliver your message the more effective it will be. Remember the KISS acronym: Keep It Simple Stupid.
3. Be realistic
Make sure your vision isn’t too dreamy. Ensure that your vision and strategy is achievable (and believable). It’s fine to dream big and to shoot for the stars but potential franchisees want a true, real world strategy to grow with your business.
4. Have passion
Make your vision memorable. Passion is contagious – if you lack the drive to succeed and inspire potential franchisees it’s going to make it extremely difficult to reap rewards (or to entice them to join the team in the first place). You need to be proud of your vision, brand and strategy. This is arguably the most important part of business growth.