The first step is to find out more about franchising and see how you can use the experiences of others to avoid mistakes. Start by contacting the British Franchise Association (BFA). They can provide you with an excellent franchisor information pack, and you can attend one of their franchise exhibitions and free seminars.
You should also consider appointing a franchise consultant to help you put your franchise operation together. We recommend that you use a BFA affiliated consultant, perhaps speaking to two or more to ensure that you chose the right one for your business.
The next big step is to set up one or more pilot operations - this is a vital ingredient in the successful setting up of a franchise with a long-term future:
The pilot operation will show that the business is viable on a 'stand-alone' basis
It will enable you to identify any problems, and rectify them - franchisees who have parted with hard earned savings to buy your franchise expect to be buying a tried and tested format with the difficulties and problems ironed out
The pilot operation will enable you to put a comprehensive operations manual together, which will be a method of ensuring that franchisees follow your systems and procedures
You will have a better idea about how much the setting up costs for the business will be, what sales are required for break-even and what level of profits franchisees may expect.