Franchise Consultant for Start-Up and Established Franchisors
at iFranchise Group
Entrepreneur Leadership Network® VIP
Mark Siebert is the author of The Franchisee Handbook (Entrepreneur Press, 2019) and the CEO of the iFranchise Group, a franchise consulting organization since 1998. He is an expert in evaluating company franchisability, structuring franchise offerings, and developing franchise programs domestically and internationally. Siebert has personally assisted more than 30 Fortune 2000 companies and more that 500 startup franchisors. His book Franchise Your Business: The Guide to Employing the Greatest Growth Strategy Ever (Entrepreneur Press, 2016) is also available at all book retailers.
Before you begin your marketing efforts, be sure you understand what it is you're selling, who you're selling it to, and why they should be interested in buying your franchise.
For most successful franchisors, quality control is at the heart of franchisee success. Find out what elements need to be top quality if you want to succeed.
Although an experienced franchise attorney can help you craft a complete document, as the franchisor, it helps to know what your document should outline.
The single most important aspect of your business plan are the fees you charge your franchisees. Discover how to charge enough on the initial fee and royalties to make money without scaring away potential franchisees.
GOP candidates Mitt Romney and Herman Cain both have franchise-industry experience. Columnist Mark Siebert looks at what a franchisor could bring to the White House.
If you're planning to start a franchise with the aim of selling it one day, you'll need to plan ahead with your end goal in mind. Here's advice that can help get you started.