Has anyone had experience purchasing a business and turning it into a franchise?

searcher profile

October 21, 2024

by a searcher from George Mason University in Washington, DC, USA

My business partner and I currently exploring the process of buying a business and transforming it into a franchisable model. This endeavor is both exciting and a bit daunting, and I would greatly appreciate any insights or experiences you might have in this area. I have been checking some research on IFA, but not finding many searchers and operators yet. Most IFA participants are not searchers who want to be franchisor, instead, most of them are franchisees.

I believe it's important for the buyer to work with a franchising consultant. Their early involvement can help assess the "franchisability" potential during the due diligence phase.

If you have successfully navigated this journey or know someone who has, I would love to connect and learn from your experiences. Thank you!

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commentor profile
Reply by a searcher
from University of Pennsylvania in Greenwich, CT, USA
You should check out what Aaron Harper is doing with Rolling Suds power washing - he posts about it regularly on Twitter: https://x.com/AaronHarperCEO. Don't know him personally but he's responsive there so might be able to connect with him via DMs, and he's been on a bunch of podcasts discussing his experience acquiring a power washing company with the explicit goal of turning into a franchisor.
commentor profile
Reply by an investor
from Colby College in Miami Beach, FL, USA
How many locations does the business operate? Generally before franchising, there should be 3 or more businesses that are running. I recently did an interview with a concept, PingPod that waited until 20 locations to franchise....

https://www.youtube.com/watch?v=lY_IlxDpGB8
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