For those with the right foundation in place, the dream of franchising can absolutely become a reality. A well-built franchise system can expand rapidly into new regions, build a nationally recognized brand, and significantly grow the bottom line.

For many years we’ve advised and observed the world’s leading franchise brands, and without these five qualities, in our considerable experience, even the best business concept will not achieve greatness as a franchise system, and will often fail.

Practically any business can be franchised, but the threshold question of whether that business *should* franchise is often overlooked, especially when a founder has early success. A threshold analysis provides the crucial initial evaluation that is often the difference between a franchise system that has legs and one that fails at launch.

Development of your legal agreements is one of the last elements of developing a successful franchising strategy. Your FDD and Franchise Agreement should be developed only after a feasibility analysis and strategic plan. While you may have an operating business with a long history and experienced management, you are developing a *new* business – a franchise system.

It may surprise you to learn there are only a few legal requirements to franchise your business. All you need is a federally required disclosure document. You don’t need a lawyer to complete it – and you can even find sample disclosure documents online for free. You can be up and running and legally offering…

The better prepared and positioned a company is to expand through franchising, the better the chance of establishing a solid network of franchisees and protecting the brand.

Franchising your business can be a very successful method for expansion if you take your time and do it properly. Here’s an overview of the steps involved and typical timeline.

Before you engage with a franchise consultant, here are four qualifying questions that we suggest you ask.