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How long does it take to get a business ready for franchising?
Assuming your business is franchiseable, you will need to undertake some preparatory work to assess the viability of it as a franchise business. Such work may include drafting a comprehensive business plan, researching the market for the product/service in different locations, drafting a franchise agreement and preparing an operations manual that will describe in detail how the business is to be operated by a franchisee. You will also need to consider a wide range of aspects of the business, all of which must be put in place before a franchise can be launched. These may include product/service development; national promotion; marketing and public relations; quality control and national accounts; preparation of a prospectus for potential franchisees on the product/service and the business; organising the recruitment, training and motivation of franchisees and ensuring they meet the required standards; all of which takes time. It is difficult to say how long it takes to get a business ready for franchising - it will depend on the existing operating practices of the business but, ultimately, the speed and efficiency in setting up a franchise business will be determined by the amount of time, manpower and money a franchisor is prepared to commit to the product/service and the business.
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