For small and medium-sized wellness companies looking to expand their business both within the UK and internationally, franchising presents a growth strategy which is less capital-intensive than corporate expansion and allows for faster entry into new markets.
What is franchising?
Put simply, franchising involves the grant of a licence by the franchisor to a franchisee, enabling the franchisee to run its own business using the franchisor's brand, know-how and business format.
As a business owner looking to expand, you would be the franchisor, and the people you recruit would be the franchisees.
During the life of the relationship your franchisees will pay royalties to you, and you will provide support to and exercise quality control over your franchisees.
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First published on welltodoglobal.com