With a New Year comes new beginnings and resolutions. For many people that includes realizing their dreams of business ownership. Now, if you’ve chosen the route of franchising, that’s fantastic!…franchising is a proven and efficient way to business ownership, however, it still takes a great deal of time and planning to get to your grand opening. With a fresh, new year before you, what better time to start!
Our brand, Erbert & Gerbert’s Sandwich Shop, is a restaurant franchise, however, the path to ownership with us is similar to what you can expect across the board. Below I’ve listed our basic steps. Whether you’re considering opening an Erbert & Gerbert’s or just doing some research, I hope you will find this information helpful as you begin your search in the New Year!
Assuming you’ve already narrowed your interest to the industry you prefer and even picked out a few franchises to investigate further the process goes as follows:
1. Request Info. You should be able to find a lot of general information about a brand via their website, however, if you are seriously considering buying into a franchise you are going to want to reach out to a representative. Usually you will be able to find contact information (either an email address, phone number, or an online form) on a company’s website and most times they will send you a complete packet, detailing the brand.
2. Conversation. Once you’ve reached out to a brand representative and received your initial info you will probably engage in some conversation and swap a few phone calls and emails. After all, there are a lot of things to consider when opening your own business such as financing, real estate, etc. You’re going to want to be able to connect with someone periodically who is an expert on the brand you are considering.
3. Fill Out an Application. This one can seem like a biggie, but it really isn’t a commitment just yet. Filling out an application shows the franchisor that you’re serious and it also establishes the financial expectations of what you may be undertaking. In addition, once you fill out an application, this is the time that many franchisors will release what is called a “Franchise Disclosure Document” to you. Also, known as an FDD, this document has more sensitive information on the business aspects of a brand, as well as contact information for other franchisees already operating.
4. Discovery. This period can vary, but for Erbert & Gerbert’s it is a day where you visit our headquarters and meet members of the corporate staff. During the day we layout every aspect of owning and operating one of our restaurants; marketing, training, operations, finance…its all covered on your Discovery Day.
5. Sign Your Franchise Agreement. Post Discovery, you really should be able to tell if a franchise is going to be a profitable fit for you and so the next step is to sign your agreement. As with any contract, you will want to take time to read it thouroughly and consult legal advice to make sure all parties are in agreement and fully understand the expectations of such.
6. Find the Right Site. Now that you’ve signed your Agreement, the real fun begins; developing your location! It can also be a rather challenging part of the process too, depending on what services your franchisor offers. At, Erbert & Gerbert’s we believe in a collaborative approach and offer lots of support to make sure you are set up with a location that is successful.
7. Open Your Store! The final step is to get the store ready for its opening day. This is when construction, training, and hiring of your staff occurs. Also, you are going to want to do some heavy marketing and advertising during this time so that you have customers when you flip that “Now Open” switch on!
Breaking franchising down into these steps helps to keep you focused on a timeline and overall manage the process. If all goes well, you could be into business ownership before the end of 2016!
Interested in opening an Erbert & Gerbert’s? Click the “Franchise” tab at the top of this page for more information.