Departments of Business in Franchising

Series Summary

Everyone has dreams about where they want their professional career to go. Usually, if you are a small business owner, you may have a hard time finding your business' direction. This can be confusing and exasperating. Not only is it important to make sure that your business is running correctly, you must also foresee a future and direction for your company. Franchises offer this reality. Almost everyone wants their small business to become successful in profit and reputation. However, before you can start moving into the direction of franchising, you must first make sure that all the areas of your business are running as smoothly as possible. As our expert Tim Ricke states, “The components of a well designed business model operate like an automobile. Turn the key, the engine turns, the transmissions sets the gears, and the drive shaft moves the wheels. All systems must work together for the automobile to move. A systematized business works much the same way.”

In this free video series, let Tim Ricke help you create a stable business and functioning business. He walks you through everything that you need to know to place your business on the road to franchising. Learn the importance of creating an organizational chart, communication systems, and software programs. Also, hear how to communicate with your costumers and employees. Tim offers a great advice about marketing and scripting your business. He discusses the importance of image branding and zero defects. While this information may be only the beginning stages of moving your company towards great things, every thing worth while begins with a small step. So, start learning about improving your business today.

Video Transcript

"I am Tim Ricke from TimRicke.com on behalf of expertvillage.com. Today we're going to talk about how to franchise your business. First thing we'll discuss is the types of businesses. All of these components will be needed in order for you to get to the point of franchising. First of all we'll look at service businesses. In a service business you'll have half the business will be payroll, the rest your other expenses, and hopefully you end up with a profit. Second, will be product. Dealing with product you're going to have outside sources of supply and you're going to need to know the cost of those things and have a steady systemized way of receiving those supplies so you can fulfill your customers’ requirements as well as your franchisees. And last of all is a combination of the two so that you will have your employees payroll and your product costs and you to have to look at all those expenses so that you know what is your profit and you have to be able to tell the franchisee exactly what they can expect on margins and things of this area."