Six Tips for Taking Your Franchise GlobalIs your goal world domination? Here's advice on how to make your business concept a success outside the U.S.

"International expansion is not for the faint of heart," warns Mark Siebert, founder and CEO of franchise consulting firmiFranchise Group. "It's for companies who are really committed to it." Here, Siebert offers his advice on how to make your concept a success outside the U.S.

1. Make sure you have the resources to support international expansion.Leads from foreign countries can be tempting, but don't rush in. It requires time, effort, people and capital to successfully transition a domestic franchise to an international market.

2. Choose which international market to expand into.That's right--market, not markets. "Going into a foreign market is a significant endeavor," Siebert says. "Don't go into multiple markets at once. Choose one or two at most to focus on in the short term." There are a number of different factors to consider in choosing which markets to target, including time zones, language, laws, customs and competitors.

3. Decide on the structure for your international franchising.要考虑的两个主要选项是掌握法语ising and area development. A master franchisee is granted the right to sell franchises in their area. This model works well in markets with large middle classes and a high acceptance of franchising, but it also requires you to train the person not only to be a franchisee but a franchisor. Alternately, area development deals offer a single operator the right to open multiple locations themselves. You'll also need to decide what types of franchise fees and royalties you'll charge, and what development schedules you'll require.

4. Find your master franchisee or area developer."Don't just rely on random encounters over the internet," Siebert says. "Go to the market and seek out the best person." In your search for the candidates, you can get assistance through the Department of Commerce's Gold Key Matching Service, attend franchise trade shows and expos in your chosen market, or enlist the aid of a development company that specializes in helping businesses go international. And always do your due diligence before making a deal.

5. Adapt.If you want your franchise to succeed internationally, chances are you'll have to make some changes to your business model. Develop a prototype and figure out what those changes are. You might need to change the products or services you offer, adjust how you advertise, make adaptations to the equipment you use or even change the name your business goes by. Naked Pizza, for example, opened its first international location this year in Dubai, United Arab Emirates--under the name N_K_D Pizza, out of respect for the culture.

6. Expand.Once you've made all of the necessary adaptations to make your prototype a success, it's time for your journey into international franchising to really begin.

Related Topics

Growing a Business

Employers Are Complaining They Can't Find Qualified Talent — Turns Out They Might Be the Problem.

Employers across industries bemoan the difficulty of finding qualified talent. Yet, at the same time, legions of capable workers, especially caregivers, find themselves shut out of employment altogether due to inflexible employer attitudes. The solution? Forward-looking companies need to reimagine traditional career paths to gain access to a deep well of hidden talent.

Leadership

Bill Gates Used to Fly Economy All the Time When He Could Easily Afford First Class — For a Surprisingly Relatable Reason

Why would one of the richest men in the world choose a cheap seat? It wasn't because he couldn't afford the extra legroom.

Side Hustle

5 Critical Lessons I Learned Turning My Side Hustle Into a Million-Dollar Business

These tried-and-true tips will save you time, scale your business, and make you money.

Business News

一个星期一TikTok影响揭示了她350000美元th on OnlyFans. 'Absolutely Unreal.'

When Tara Lynn promoted her OnlyFans page on TikTok, she saw her income more than double.

Business News

McDonald's Just Announced 'Free Fries Fridays.' Here's How to Get In On the Deal.

The fast-food giant is giving away its most popular item—with a few conditions.

Management

I've Managed a Remote Team for 30 Years. Here Are 6 Mistakes I See New Remote Teams Making That Will Kill Their Success.

Like it or not, remote work is here to stay. As the CEO of one of the first fully remote workplaces in the 1990s, I share six mistakes new remote teams are making that will kill their success.