Factors to consider if it's the right time to franchise your business includes:
1. Your Track Record
- How long has your business been open?
- Do you have systems in place?
- Do you have strong unit level economics?
- Have you differentiated your business from your competition?
2. Industry
- Are you well capitalized?
- Are you working with the right team?
- Are your financial numbers superior or at least consistent with industry benchmarks?
3. Founder Goals
- Do you want to want to expand the reach of your business through franchising?
- Do you want to transition from business operator to founder of a franchise organization?
- Are you ready to focus on a 5 year strategy?
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