Hello all, I'm new to the forums. I have been running my own business for the last 2 years and in that time it has taken off much better than anticipated. I have looked into a few different business models concerning franchising.
It all culminates basically with Independent Contractors taking on the mantle of my business in small locations across the country. (I own and operate a highly successful repair center) My issue is how would I go about doing this. There is a huge amount of growth in my field however my business itself is only locally known in maybe a few hundred mile radius.
1. Model eliminates a full franchise fee and specifically binds the franchisee to purchase my products exclusively. At a low cost but generating a higher income base for them.
2. Second model charges a small franchise fee and still binds them to purchase parts from myself but at a slightly lower cost to offset the franchise fee.
I am doing well operating my own business however franchising is new to me.
Also all new ICs would have to purchase a kit from me which includes all information, tools and startup tools necessary to get started. (business cards, shirts, starter parts, how to videos and more, etc.)
I know this is not an easy deal and there is a lot to consider. What are my options and your opinions?