How to Franchise a Business
Lime Licensing Group has been the advisory team behind numerous market-leading brands. If you are looking to franchise a business or are wondering ‘what’s involved in franchising my business?’ – then we have the franchising pedigree to help you. Our expertise and results are second to none. Our management team has come from franchising backgrounds, running successful franchised networks. We’ve also recruited franchisees in every sector and assist many franchisors to do the same. We are fluent in every area of franchising whether that is business to business or business to consumer. Lime’s team has also worked in every investment level at home and overseas.
Flexible Franchise Solutions
You’ll find us very flexible to deal with because our whole mantra is to help you to get a franchise system designed and launched. We don’t quote prices here simply because every client has different capacity and we amend our fees accordingly. You’ll probably fall into one of the following three solutions:
Done For You:
This is a complete fully fledged new franchise brand setup. We’ve seen what every other advisory form does and this is the best franchise set up in UK franchising by some margin. It just happens to also be considerably less expensive than most! A project fee to complete everything applies and varies depending on your sector, e.g. B2B, B2C, Retail format etc as each actor requires a different setup solution. Typical timeline around 8 weeks.
Done With You:
You don’t necessarily need a franchise executive to complete everything required. To a degree any way you’ll need to input a lot into the Operational Manual anyway. Our Done For You solution provides a balance between assisting you with certain elements and completing those elements, that by their nature, require an experienced franchise professional to complete. A fee commensurate with what we each do is then agreed between us, usually 40% less than the Done For You solution above.
Done By You:
Retain us on certain days each week and we’ll work with you face to face supporting you to adapt our extensive library of template solutions that previous market leaders have used under our guidance. These are totally unique to us and unavailable anywhere on or offline. We’ll input into every decision you need to make. We’ll also work with your own suppliers to help to design the marketing and oversee the completion of all that needs doing. A simple daily rate covers everything.
Franchise My business
Lime Licensing Group covers every element required to successfully franchise a business. Our process begins with intellectual property and a comprehensive amount of consultancy. Our service covers competitor analysis, financial modelling and the creation of compelling marketing and narrative. We also create all of the inventory you’ll need to be taken seriously by the franchise community. Many of our clients have become market-leading multi-million-pound brands using our blueprint.
We don’t deal in ideas or guesswork when you engage with Lime Licensing Group to franchise a business we work on proven strategies that have worked for dozens of brands. Lime doesn’t believe in taking risks with your brand, we know what works, what doesn’t and can navigate your team through the tangled expensive mess that franchise marketing has become. Our team has recruited around 2000 franchisees for dozens of brands and we own one of the UK’s largest franchise directories; www.franchiselife.co.uk. There are around 29,000 potential franchisees on our books so there’s a very good chance that your first franchisees may already be known to us.
At the outset when you may have decided to explore how to franchise a business, our advisors carry out a critical analysis to evaluate whether it is appropriate, suitable and robust enough to take on the new model. We have offices in Yorkshire, South Wales and Cambridgeshire so are happy to meet you wherever you are.
Ideally the business model and brand will be:
- Proven to be profitable
- Replicatable in other areas.
What costs should you consider when you franchise a business?
It’s important to consider all the cost elements involved.
- What inventory or stock will a franchisee need?
- If there are premises, what is the fit-out cost?
- How much will the initial training cost including management time?
- How much will the ongoing training and support cost?
- Which third party people or companies will help set the company up and what do they cost?
- How much will you input into launching the franchise location or area – and what will that cost?
- Assume that each franchisee may cost two – four thousand pounds in marketing expense.
- Factor in the cost or a recruiter who may require a commission or at least a retainer fee to assist.
- Do you want to make a profit on the franchise sale? We would suggest yes.
Bearing in mind the above you should be able to identify what it actually costs you to appoint a franchisee. You can then decide on the franchise fee and what would make it worthwhile for you. Your role is to teach the blueprint at the outset and provide the support a franchisee needs to replicate the model. A franchise agreement is then signed by you and the franchisee detailing the commercial arrangements.
Our advisors can also carry out a recruitment service
We can then assist you to establish a franchise network throughout the UK with a highly effective franchisee recruitment service. There are Lime locations in the south-east, south-west and northern England. Our head of telemarketing Marie Chinn contacts over 100 potential franchisees per day! This means that Lime Licensing clients have a team of four franchise executives working full time to grow their network. We can usually meet people in any location and Lime also attends several franchise shows for our clients.