In order to build an attractive franchise package that will encourage people to invest in your business it is vital to be able to demonstrate that your franchise is viable and profitable. The best way to achieve this is to run a pilot franchise.
Not only does the pilot enable the franchisor to establish that the business model works as a franchise it will establish if it is worth the investment needed to get the franchise up and running.
It is important that the pilot should be run as close as possible to the proposed franchise model to enable the data to be gathered on the proposed profitability, equipment requirements and processes that must be put in place. The information gathered from the pilot will then underpin any funding requests for the franchise set up and also help attract investors. The pilot will also help highlight areas that need further work prior to launch to ensure that the venture is as successful as possible.
If you have any questions or need any help in relation to any aspect of franchising please free to call us on 01993 706403 or e-mail firstname.lastname@example.org.