I own a Mexican import store and would like to sell franchises in the United States and Europe. However, I don’t have a clue about franchising nationally and internationally.
Can you offer me any pointers on how to go about franchising in the US and abroad? If this is too general a question, could you suggest a website or other sources that can provide me with information on this topic?
Franchising nationally and internationally are very separate issues
Import stores have done very well in the US, so we suspect that track record will continue. The bottom line is, if your current operation is profitable and if you have the personality to help others clone your business, then you might be a good candidate for franchising.
We, of course, offer a wealth of information that can be of help to you as you determine how to move forward with franchising. For starters, read our section on franchising a business. That will help you in your decision-making.
Now to the answer you might be looking for. TAKE IT SLOW. Franchising, while potentially a highly profitable method of distribution, takes time, patience, people and capital to do it right. And, of course, even doing it right does not guarantee a successful venture. Our advice would be to start as close to home as possible, and in your case that means the US to grow your franchise legs and become proficient as a franchisor.
The international side of franchising is a much later problem to tackle. There are many adequate resources capable of taking you outside of the US, but it is almost a waste of your time to consider them until you mature a national system.