Looks you are doing very unique business. My suggest is that you need to work with Franchise Consulting company. They are expert and they know what to do and how to do it.
First, know that it is franchise-able. Then research who is most likely to be a franchisee. Then determine at what price point it would allow those targets to buy in. Franchises are very heavily regulated, you'll want a lawyer to assist you - yes it is costly so your business model must be able to support your franchise fees and royalties.
We considered the same things and the complexity is more than we imagined. I suggest you start with a franchise lawyer from your state. I think you will be amazed at how regulated franchises are. It is actually easier for us to set up offices ourselves than to create a franchise.
to put together a franchise there is a few parts to the process putting together the manuals and the legal.i like the fact that you have been doing this for 15 years usually i would ask a lot more questions to see if franchising is something that you would want to do and to go over the costs but that can be done on a call we have a franchise division that would be happy to speak with you
My first tip is to look at IFA, International Franchise Association. They are the best resource for help and advice from experts and other members.
Fundamentally, you may have had a successful business, but you need to go back to day one and start building an "owner's manual for operation of the business. It must include every step from start to operational. Collateral forms and agreements should be developed. You need to develop financial info showing how you became an ongoing concern. a franchise's value is increased when you can show evidence of it being a going concern in the wake of the seller. many buy a franchise and later sell it.
After a decade in franchise operations, training and support I learned two lessons; first one of three franchisees makes it because of what you do for them and another fails no matter what you do for them and finally one will succeed in spite of what you do for them. Second lesson, sell franchises to people who are truly looking to actively start their own business, not just because they can buy it.
Franchising is a great opportunity however it takes a lot of time and expense to set it up, market it. I set up a business who h cost $25,000 to set up. I study so many franchise websites that focus on start-ups.) A great start is research franchising Franchise Gator is a good website. Be careful there as companies out there that will contact you and sell you on their great system this can cost in excess of $80,000.00
Frandocs in Florida have a digital franchise package that is great I am not sure what. Wit everything you need. Elliott tell him Gil from Toledo sent you. If I can answer any questions for you please PM me. Best of success.
Get Entrepreneur Magazine and in the back are an abundance of franchising opportunities. All of the franchise opportunities provide detailed information on what's involved to have a franchise with each one. Simplest way I can suggest to explore franchising.
You must first have a product or service that is franchisable and then you need to Map every operational process to standardize your business model, then you seek a franchise attorney and patent your business franchise and processes as your IP.
Finally your advertise your franchise for sale to business owners that can benefit from your standardized business model
I would check out this site first.
What you should do is check with places like McDonalds and they can give you information on franchising. They can also give you some idea of what pricing you should use. That would be a good format for you to follow.
Here is a great article...http://www.entrepreneur.com/article/66178
Hopefully someone will be able to help you here.
What you're talking is a whole enterprise in itself. First you're needing to
give a GENERAL FORMAT of how this business is structured and operated in.
I'm not sure, but would think/suspect there are organizations that do nothing
but develops FRANCHISE Enterprises and that's something you should look into.
I hope this gives you some direction.
So is the casino party business something you thought up? If not who's original idea was it? If not your original idea than you will need to get permission from the original owner to franchise their product, which means you will have to share the profits with them. However in general I would say that somehow or another you will get into legal trouble if this business is not your original idea and if your original idea you should have it trade marked.
As I know ,I was working for quite short time in franchise company , All you have to do is search for the company having the ability to give franchise in your field ,approach them for your wish then they will show you their conditions for giving you franchise , in regard of the shape & all details in regard . Plus the cost of it -amount you need to pay when you start ,then the percentage yearly .
I would recommend starting with a distributor or new markets first. This is not legally challenging and will give you an experience with a new partner and a new markets. This may help you experience expanding to new markets before committing to the franchise model.
Here is an article to tart you off.
You might want to contact the author to engage them for conulting.
Franchising is a costly endeavor as their is complex legal documents. Seek out an attorney with experience in the field.
Franchising is a fantastic way to grow your business, however there are multiple considerations from the legal to marketing aspects. I've spent 20+ years in franchising and would recommend beginning with the International Franchise Association (IFA). Their website is www.franchise.org. If you decide to franchise, you will definitely want to be a member of this organization, which has thousands of franchisor members from all over the world.
Next, you should talk to a franchise attorney who can help you through some of the legal aspects of starting a franchise. If you wish to contact me off line, I can provide some referrals to you.
In addition, you will need to set up support systems for franchisees. When someone invests in a franchise, they will be looking for training and advice in every area of running the business, from marketing the concept locally to running the business. This requires a plan for how you will train, support, communicate with and visit your franchisees.
Finally, you need the key ingredient, which are the franchisees themselves. There are ways to do this that are tried and true, so you don't need to reinvent the wheel. I provide consulting in this areas and would be happy to provide a complementary assessment to help you think through the various areas. Again, I can put you in touch with excellent resources who can help you launch this concept the right way.
There is an incredible wealth of information available. The key to success is tapping into this knowledge to help you avoid some of the pitfalls and get started on the right track. Best of luck to you in this venture.
I think this is a very interesting concept. I left you a message on your RKCACasino Facebook page.