5 Insider Secrets to Launching Your Franchise in Record Time

When aspiring franchisees first come to us for guidance, many are surprised to learn that the typical journey from signing a franchise agreement to opening their doors can take anywhere from 3 to 18 months.?

That's a wide range, and for entrepreneurs eager to be their own boss, even the shorter end can feel like an eternity.

But here’s what you need to know: That timeline isn't set in stone.?

With the right strategies and a proactive approach, it's possible to shave months off the franchise launch process and be up and running far faster than average.?

Let’s dive in.

Secret #1: Know What You Want

One of the biggest delays in the franchise process happens right at the beginning, when aspiring owners start exploring the thousands of franchise opportunities available without a clear idea of what they're looking for.?

They spend weeks or even months evaluating options that aren't really a fit, burning precious time in the process.

This is where we come in as franchise consultants. Our process helps you avoid this delay by asking questions to produce self-reflection before you even start your franchise search.

Here are a few questions:

• Are you looking for a side hustle or a full-time business?
• Do you want a single location or to build an empire?
• What skills and experience do you bring to the table?
• What level of investment can you realistically afford?
• What industries do I have an aversion to?

With clear criteria in hand, you can quickly narrow your options and move forward only with the franchises that truly align with your goals.

Secret #2: Do Your Homework

Franchise due diligence is a critical step, but it doesn't have to be a long one. Many buyers unintentionally stretch out the process by going in with minimal knowledge and having to pause frequently to get up to speed.

You can compress your learning curve by doing some foundational research before you start actively exploring franchises.?

Read industry blogs, listen to podcasts, and study up on the key steps of the franchise buying process.We have a free e-book we would be happy to send you covering these steps. Not only will this help you move faster, it also shows franchisors that you're a prepared, serious, savvy candidate - which can give you a competitive edge.

Secret #3: Line Up Your Funding

Lack of financing is the number one reason promising franchise deals fall apart - and securing funding mid-process is a surefire way to add months to your timeline. Savvy franchisees know to get their financial ducks in a row before they even start their search. Much like being pre-approved for a home loan, you can have a no obligation consultation with franchise lenders to see what you qualify for in funding. These conversations sometimes offer creative financing options.

Start by understanding what you can invest and then compare the full scope of the costs involved, from franchise fees to startup expenses to personal living expenses.?

Then secure your funding options, including SBA loans, franchisor financing, traditional loans, non collateralized loans, and creative solutions like Rollovers for Business Startups (ROBS). Have a clear plan and ideally, pre-approval before you begin your franchise journey in earnest.

Secret #4: Be Responsive

An often-overlooked way to fast-track your franchise purchase is simply to be as responsive as possible throughout the process.?

Franchisors will request various documents, forms, and meetings - and the faster you can turn those around, the quicker you'll progress.

Before you dive in, ensure you have the time and bandwidth to be highly responsive. Block off dedicated hours for franchise-related tasks, have your paperwork organized and ready to go, and reply to franchisor communications as quickly as you can. Not only will this accelerate your overall timeline, it also demonstrates your professionalism and follow-through to franchise leadership.

Secret #5: Choose an Appropriate Franchise Model

Perhaps the most impactful factor in your franchise launch speed is the type of franchise you choose. Not all concepts are created equal when it comes to speed to market.

Generally, home-based or mobile franchises can launch much quicker than brick-and-mortar locations, since they don't require securing real estate, building out a commercial space, or passing inspections. Even among physical locations, those with fewer specialized equipment or regulatory requirements will typically open faster.

If your top priority is speed, you might also consider a turnkey franchise. In this model, the franchisor handles all build-out and setup, allowing you to step in and open the doors as soon as the ink on your contract is dry.?

Turnkey franchises typically come with a higher price tag, but for entrepreneurs who are long on cash and short on time, the tradeoff can be well worth it.

Final Thoughts

Launching a franchise doesn't have to be a long, drawn-out process.?

By clarifying your goals up front, educating yourself on the industry, lining up your funding proactively, staying responsive to franchisor requests, and choosing a franchise model built for speed, you can significantly compress your timeline and be open for business months faster than the average franchisee.

Ready To Explore Franchising? Let’s Talk!

Mack and Sharon Strange are on a mission as Franchise Consultants to help others go from “Start” to “Success” when it comes to franchise ownership.

If you’re curious about exploring franchising as a career pivot, investment vehicle or lucrative side hustle, let’s talk!

Frequently asked questions (FAQs)

Q: How do I book a call?

A: You can book a free, no obligation call with Mack here and/or a free call with Sharon here.

Q: How much do your services cost??

A: As Franchise Consultants, there’s no fee for our services. We’re compensated by franchisors only if and when you decide to move forward with (and are approved for) franchise ownership.

Q: What do you do??

A: ?Our role is to serve as a trusted guide and educational resource.

Q: Where can I learn more??

A: You can learn more about our story and how YOU can follow in our footsteps via the Franchise Together Podcast.

We look forward to connecting with you soon!