Once you have tried and tested your business formula and decided how the franchise will work (how territories will be allocated, level of franchise fees etc) then you need to go about the business of finding franchisees.
There are two aspects to finding franchisees: you have to check out prospective franchisees and they have to check you out.
You will need an initial filtering process (a pre prepared checklist is good) to deal with initial enquiries. This does though need to be a 2 way process. From your viewpoint you need to quickly and efficiently filter unsuitable enquiries. From the prospective franchisee’s viewpoint they need initial key facts about the business and the franchise to help them decide whether your franchise could potentially be something in which they would be prepared to invest time and money.
If both you and the prospective franchisee move beyond the initial screening then interviews need to be with someone from your business who has a through understanding of the business and is an enthusiastic advocate for the business. Potential franchisees need to be convinced that the franchise has the potential to give an adequate return and that you will provide a good level of support and promotion of the business.
Call and speak to a franchise solicitor: we are happy to give initial advice without charge or obligation.