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FRANCHISING - ARE YOU READY TO GROW - ELEMENT 2

Guest post by: Keith King

Article Overview: DO YOU WANT TO GROW YOUR BUSINESS? FRANCHISING IS AN EXELLENT TOOL. THERE ARE 5 ELEMENTS THAT YOU MUST CONSIDER BDFORE YOU TAKE THE LEAP - THE SECOND ELEMENT IS IN THIS ARTICLE - A PROTOTYPE.

FRANCHISING - ARE YOU READY TO GROW - ELEMENT 2

A PROTOTYPE

THE FRANCHISOR MUST HAVE A TRACK RECORD - AN ACTUALOPERATING BUSINESS THAT IS SUCCEEDING. YOU CAN FRANCHISE AN IDEA. HOWEVER, MOST PEOPLE WANT TO TOUCH AND FEEL WHAT THEY ARE BUYING - THEY WANT TO SEE A BUSINESS OPERATING JUSTLIKE THE ONE THEY WILL BUY. FRANCHISORS NEED ONE OR MORE OPERATING PROTOTYPES, IN ORDER TO DRAW AN OPERATING HISTORY AND A TRACK RECORD. THEY NEED TO SHOW THE FRANCHISE BUYER THAT SUCH A BUSINESS MAKES SENSE FOR THEIR INVESTMENT.

THE SECOND ELEMENT IS TO HAVE SUCCESSFUL PROTOTYPES WITH GOOD TRACK RECORDS TO SHOW THE FRANCHISE BUYER.

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Article Tags: second element



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