Expanding Your Business Through Franchising

How can a business successfully expand through franchising? Franchise Consultant Mike Martuza draws on more than 20 years of industry experience to explore franchising from the franchisor's perspective. We unpack the foundations of a successful franchise model: building systems that can be replicated, ensuring the business is profitable, and clearly defining what sets it apart. Mike also explains why franchising isn't right for every business, how managing franchisees differs from running a business yourself, and what to consider before making the decision to franchise. Once franchising is on the table, we look at how to shape the opportunity for growth, from regional to national expansion, and how to make informed decisions about what your franchise model should look like.  

Key Points From This Episode:

• Mike's background and how he developed his expertise in franchising.
• What his clients have in common: they are systemizable.
• Factors that determine franchise-readiness.
• Ways to grow: franchising or opening more locations.
• What franchisees buy into.
• How to select appropriate franchisees.
• Franchising pitfalls to avoid.
• Building a team to support you as you franchise.

Tip of the Day: If you're thinking about expanding your business, be open to franchising as an option, but don't do anything until you have assembled or talked to a team of experts.

Links Mentioned in Today's Episode:

Mike Martuza

Mike Martuza on LinkedIn

Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

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