With franchising proving to be a popular business model, many entrepreneurs are considering the question of, “Can a small business owner start a franchise?”. The franchise business model allows bigger businesses to branch out and expand, while giving entrepreneurs and small business owners a chance to run their own operations with the help and support of a larger organisation. Franchising a small business is a great way to achieve business growth, while minimising the overhead costs involved in opening additional locations yourself. Operating a new business can be daunting, but by opening a franchise business, you don’t have to start from scratch. A franchise business allows you to operate under a…

No matter the business model, entrepreneurs require feasibility studies to evaluate franchise readiness and viability. A feasibility study is conducted prior to undertaking a project. This serves as a way for business owners to determine how the creation of a franchise structure may affect their current business. A franchise feasibility study determines whether the business being evaluated has a reasonable chance for success as a franchise. The franchise feasibility study comprises of vital information including the funding needs to complete the project, the market opportunity, government regulations, risk factors, strength and weaknesses, the management team and the financials of the company. While a feasibility study somewhat sounds like a business…