So You Want To Franchise Your Small Business…

Trading Markets:

So how do you navigate your way through the highly complex process of converting your small business into a franchise? Franchise expert Dick Rennick explains how.

Dick Rennick, founder and CEO of Team Rennick, is a franchise expert with more than 30 years experience in the franchise industry. He founded the American Leak Detection franchise, a high-tech service franchise headquartered in Palm Springs, California, with more than 360 units in 40 states and a dozen foreign countries. The 2005 chairman of the International Franchise Association is often tapped to guide small businesses through the process of becoming a franchise - quickly, cost-effectively and in compliance with all of the federal and state regulations.

‘First you need to find out if your business is ‘franchiseable’,’ advises Rennick. ‘To determine this, you need to ask yourself if the business can be duplicated, if there is a need for this business in other states or countries, and if can teach someone else how to do it?’

Read on…