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When you are running a high-profit business, but the entry barrier is low.
You have to expand your market share as soon as possible to gain the most profit within a short period.
Franchising may be the next big step for your business if your business is franchisable. Because it allows you to achieve multi-unit growth and expansion of your business.
Mr.ABC was running a DIY project with a quite high profit. However, the biggest weakness was that the entry barrier was low. Which would lead to many followers coming into the battlefield.
So he asked Mr.Hua whether or not he should franchise his business.
Generally speaking, franchising is a business model where you take what has worked for you and teach someone else how to duplicate your business.
The supply chain is the very essence of franchising. You should provide good reasons why someone else should pay you for franchising.
Franchising isn't a get-rich-quick opportunity.
Franchise success has much to do with execution. Mr.ABC has to establish the right plan of action such as promoting and marketing his franchise system and selling franchises.
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