One can structure a very appealing "deal" to attract funding for a franchising approach - regardless of the industry. Your 18 month history is a great foundation to show that the business is viable and hopefully profitable.
The next step is to validate the potential as a franchise business.
I often work with people trying to franchise a business. There are a number of challenges that must be overcome to achieve success in franchising, in my opinion. The most important is figuring out what makes the business successful and describing that in writing. Most people identify a franchise by its prodcuts and services, but the key to every successful franchise is systems, procedures and supply agreements that make it easier for someone to operate under your franchise than on there own and be more financially successful with what you can provide than figuring it out for themselves. I adopted a bit of advice I read in a book that I pass on to all potential franchisors; start keeping a business diary. Record everything you do in a day. If your success is based on what you do, then your franchisees sucecc will be based on them doing what you are doing now. The operating manual for the franchises is critical to your franchisees` succcess. Another thing you shoudl consider before franchising is opening at least one more location so yo can test whether your systems can be followed by a store manager and whether your current success is dependent on you or on the way you business is run.
I encourage people to franchise all the time. I strongly urge them to really be ready to do it, or it will cause you more problems than you can imagine.
The test to determine whether you are ready to franchise is sit across a conference room table from a person with $25,000 in cash and say "No, I won`t sell you one of my franchises because you do not meet my standards." If you cannot do that, you should not even consider franchising.
Dear jdwilliams19 -
While many roads lead to Rome - I think what you are "missing" is contained in your question. To wit - we would advise our clients against "shopping" their business plan - both actually and mentally.