There is a key business idea for entrepreneurs that may not necessarily be the most obvious choice and that is to franchise your business.  Most small businesses will consider adopting someone else’s business and buying into such franchise opportunities, in order to gain credibility and branding, product ranges and guidance or location.

If you however have a key product that is unique and in demand, then how about reversing this psychology, and actually franchising your business for others to pay you a fee in order to use your brand name and products?

This way you will be licensing others to make money from your business idea, and their hardwork.  It does make sense to some opportunities.

Think about Pizza Express, Dinorod, Spar and a whole lot of other retail and services businesses.  They concentrate on branding and business development, whilst the day to day running of each franchise outlet or retail shop is left to the franchisee to manage, with staff and overheads at each outlet level.

As with any business idea, there are pro’s and con’s.  For example, you do not have to think about staffing and locations, as this will be managed locally by the franchisee as they will run their business from the location they choose.  Profits and losses will not directly affect you unless they go out of business or do not pay their bills.  You will simply take a cut or charge a fee for each franchisee to use your name and products, you may also add a shipping cost to each product they buy from you.

People will of course want a name that is recognisable for their investments, so there will be advertising and branding costs that you need to carefully consider, in order to get your brand and company name well known when you franchise  your business.