If a franchise company has not currently implemented a conversion franchising program, it is missing out on a great opportunity to increase the number of quality franchisees to their brand.  A main reason to implement a conversion franchising program today is because hundreds of new franchise companies have entered into the franchising world over the last few years, making the pool of prospects to reach out to much smaller for each franchise company.  With a smaller pool of prospects, as well as more difficult funding issues for new franchisees, conversion franchising can add a new dimension to any franchise company. It will help franchises continue building their brand in addition to what they are already doing to attract new franchise owners.  

His resume is impressive. While he is most known for his role in founding the United States, launching more than five inventions, serving as a diplomat during the American Revolution, scientific discoveries, writings and much more, his role as an entrepreneurial printer earns him yet another landmark in the history books.

Building an effective franchise recognition program can be a crucial element in promoting the actions, diligence and planning required for being a successful franchisee.

Requirements and specifications for non-traditional locations will alter from franchise to franchise and location to location.

When the economy went south, many franchisors began discounting products or services. Restaurant franchises began shrinking the size of portions on their menus, while retailers began offering flash sales, and home improvement franchises began discounting services. While these tactics may have kept these systems afloat for the time being, most franchisors would agree that, in the long term, they risk diminishing the value of the brand.

At some point in their lifetimes, many franchisors and franchisees, whether startup, mid-sized or large, and well-established in the marketplace, will consider raising outside capital.

Cultivating a system of support is a key part of any successful franchise organization. Having a strong network with the right resources and tools can help franchisees improve performance and better serve their customers.   

The strategic-planning process offers a stronger approach to running the business by the numbers.

Key steps to ensuring a profitable relationship.

While a franchisor may have the legal right to default a franchisee, there are many issues that a franchisor should consider prior to determining whether to send out a default letter.