The SmallBizChat with Melinda Emerson
A series focused on small business advice and strategies, by Melinda Emerson, known as "SmallBizLady", discussing various aspects of entrepreneurship and small business management. Get insights from experts about topics relevant to small business owners.
How to Franchise Your Business with Alicia Miller
Melinda Emerson chats with Alicia Miller about her journey in franchising and key factors to consider when franchising a business. They discuss the steps to start, initial investments, setting franchise fees, and building a community within a franchise network.
Key Points
- Consider franchising if your customers express interest in owning a similar business, indicating strong market demand.
- Ensure you have sufficient capital and multiple successful corporate units before launching a franchise to sustain initial growth and credibility.
- Building a collaborative community within your franchise network is crucial, involving franchisees in decision-making and fostering open communication and idea-sharing.
Alicia Miller is the Managing Director of Emergent Growth Advisors. She helps new franchise brands launch strong from the start and also works with mid-stage brands seeking a private capital partner to accelerate enterprise growth. She’s also the author of the new book, Big Money in Franchising. For more information: https://www.emergentgrowthadvisors.com
Chapters
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| 0:34 | |
| 1:49 | |
| 3:45 | |
| 5:42 | |
| 9:30 | |
| 12:32 | |
| 13:17 | |
| 14:56 | |
| 18:06 |
Transcript
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