Vancouver-based Brian Scudamore has built 1-800-Got-Junk into one of Canada’s
fastest growing companies based in part on franchising his business model throughout Canada and the United States.
Franchising can be a fast-growth way to scale up your business as you engage an army of motivated franchisees to follow your money-making formula while sharing a slice with you.
But how do you know if your business has the right characteristics to be a franchise? For answers, I spoke to Mark Siebert, president and CEO of Homewood, Ill.-based iFranchise Group, a consultancy that specializes in helping business owners franchise their company.
Mr. Siebert says a business has to meet three criteria in order to be franchise-able:
1. Is there enough money to go around? Read on…