7 Tips to Franchise Your Business Internationally

Growing your franchise internationally is rewarding but comes with its own share of new challenges – coping with different cultures, language barriers, legal issues, uncertain outcomes, unexpected expenditures, etc.

Here are some tips to franchise your business internationally.

Franchise Tip 1: Get a Genuine Business Evaluation

It is best to get your franchise evaluated before you take a step towards international expansion. The evaluation reports if your franchise meets the requirements for expansion in a foreign location.

Also, it can assess if your franchise appeals to the consumers and franchisees in that particular location.

Franchise Tip 2: Know Country-specific Franchising Regulations

Franchising regulations, including buying/selling of franchises, documentation, etc. vary in most countries, sometimes even by region.

It’s important to research about these regulations before kick starting the expansion business.

Franchise Tip 3: Do you have International Resources to Support?

Your franchise might be getting international requests but, don’t hasten. An International support system including talent and capital are important for moving from a local franchise base to an international franchise base.

Franchise Tip 4: Choose Your International Franchising Structure

You need to decide your international franchising structure, from master franchising to area development.

Master franchising – You will be able to sell franchises in that particular location.

Area development – You will be able to open multiple locations on your own.

Franchise Tip 5: Adapt Your Brand

After opening an international franchise, it is important to learn about their culture and social differences. Make sure to adapt your brand based on those differences and apply for copyright and trademark protection.

Franchise Tip 6: Strategize an Achievable Expansion Plan

It is important to have a realistic business plan with sufficient budget and achievable goals.

Also, you need to have support, training, and marketing plans for that particular location/s to expand. Once you are done with the necessary arrangements, it’s time to set your expansion plan in motion.

Franchise Tip 7: Seek Advice from the Experts

Experts know best! You will be able to gain industry insights, financial plans, franchise disclosure documentation, etc. as well as guidance through franchise development, operations and marketing as well.

For more tips on expanding your franchise business internationally, Contact Us.