On Bauer Business Focus — A conversation on franchising in Houston with Andrew Schneider, business reporter for KUHF 88.7 FM.
From fast food and flower shops to dental offices, the streets are filled with franchises of all shapes and sizes. Sarma Taylor, managing partner of Franchise Innovators International stopped by Bauer Business Focus to discuss the ins and outs of franchising.
The franchise model is best for existing businesses, Taylor said. Turning a business into a franchise can have its challenges, including looking back on the business to make sure it’s replicable.
“[A successful franchise is] one where the franchisor, when they created the franchise system that they were really paying attention to the profitability, not only for themselves and maximizing their profits for their system, but also that they’ve created a system where each franchisee has a really healthy opportunity to make a decent profit,” Taylor said.
Purchasing a franchise enables business owners to hit the ground running and begin making money sooner than a traditional business model.
“The advantages to purchasing a franchise is that you’re purchasing someone else’s test kitchen, and they’re been able to hammer out all the details f that business and the business model,” Taylor said. “When you purchase a franchise, you get a business in a box and hopefully you get the training and the experience of the franchisor.”
Click here to hear the full interview.