How I Set My Biz Up For Franchising

Smart Company:

David and Charles Cohen helped their parents take over Matchbox homewares in 1996 when it was suffering financial difficulties. Since then, the chain has seen solid growth with revenue of $14.8 million during 2008-09. David says much of the growth has been due to the success of a solid franchising effort, and says businesses looking to expand should consider a similar path.

How did you come to be a part of Matchbox?
My parents bought the business back in 1996, when it was a two shop operation. They basically rescued it from administration, and my brother and I got involved at varying times from that point forward. We got the business to where there were about seven or eight corporate-owned stores, and then in 2003 we looked at taking the business bigger.

We didn’t specifically look at a franchise model, but we spoke to people including consultants about that and other things we could do to improve, and of course we went with franchising and that’s how it began.

What made you choose franchising out of all those options? Read on…

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