The North Central Florida Business Report just recently published a story entitled, “Should You Franchise Your Business,” in which Wing Zone Co-Founders, Matt Friedman and Adam Scott, laid out some advice for business owners who may be considering franchising. Matt and Adam began Wing Zone in Gainesville, FL out of their fraternity kitchen and turned it into an international franchise concept which has been selected by Entrepreneur as one of the best franchises in the country. Check out the story here:
Should You Franchise Your Business?
By Chris Eversole
Former University of Florida students Adam Scott and Matt Friedman got off to a slow start and had little money when they founded Wing Zone in the kitchen of Phi Kappa Phi fraternity in 1991.
Today, Wing Zone has 100 stores and has received awards from Inc. and Entrepreneur magazines as one of the country’s best franchise businesses.
Wing Zone is an example of the kind of success you can achieve if you turn a business into a thriving franchise. But getting from start to finish can be challenging. Here are the essential steps you’ll need to follow:
START WITH A GOOD CONCEPT
To create a lucrative franchise, you first have to have a business that:
• can be taught;
• can be profitable for you and the franchisee; and
• can work in various geographic areas.
Before turning to franchising, Scott and Friedman proved their business concept worked by opening and operating their own stores at college campuses throughout the Southeast.
NAIL DOWN THE DETAILS
Parker Van Hart is beginning to franchise his local restaurant, Buddha Belly, which offers a healthy, diverse menu ranging from various fried rice dishes to burgers. He’s changing the name to Tasty Buddha to broaden its appeal, and he’s developed a website aimed at franchisees.
Just as importantly, he has created a comprehensive procedures manual that runs more than 1,000 pages and is still growing. “I’m surprised at how big it is,” he says.
The Wing Zone manual is similarly detailed—including everything from temperature settings for the refrigerator, to what button to push on each machine and how to bag the wings.
(Read More)
Monday, November 22, 2010
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