OCTOBER 2022 ISSUE

Exporting your franchise to the United States is a great business opportunity. Due to the growth potential in the country, more and more franchises decide to come to this country. With thousands of different franchise opportunities, the franchise industry in the United States is not lacking in concepts or ideas; however, even so, many foreign franchisors have been successful in selling their franchises. The strong base of potential franchisees and the multi-unit ownership model’s growing acceptance power faster brand recognition and lower support costs per unit. Another advantage is that capital for franchise expansion is relatively easier to obtain in the U.S. than anywhere else. What steps should I take to franchise my business in the United States? Some of the steps that every entrepreneur who wants to open his franchise in the United States must follow are the following: Seek help from an expert. Consulting a franchise consultant and lawyer is very important, their knowledge and experience will be vital for success. Trade mark. Make sure you register your trademark and that the registration is current. Put the documentation in order. It is necessary to prepare an FDD (Franchise Disclosure Document). For this, the franchisors, together with their franchise lawyer, have to prepare and update very detailed documentation. On the other hand, the operations manuals must be translated and tropicalized. The franchise must be registered in different states according to the regulations of each of them, etc. Make sure your concept is marketable in the U.S. Unless the franchise can bring some differentiator in terms of product or service, it will be difficult to compete with U.S. based franchisors. Get informed and prepare a business plan. Create a detailed business plan and conduct market research in your industry. Determine a strategy for human resources, sales, structure, accounting, etc. The most common concerns. The main concern about expanding into the United States is usually fear of government regulations and the cost of entry. The system may have some additional costs and procedures compared to other countries, but compared to the market potential, the price is relatively lower. A Wide Network of Franchise Professionals. The large number of franchise concepts in the U.S, has enabled a wide network of experienced franchise professionals: lawyers, consultants, accountants, contractors and all types of suppliers, who can provide the assistance an international franchisor needs. The Franchise Consulting Company and Franchise Genesis are firms with years of experience in franchising and will be able to help you with the process of exporting your brand to the United States professionally and effectively. Entering the US market may not be the right move for everyone, but it is an opportunity like no other! About the Author Barbara is a consultant at The Franchise Consulting Company. Contact Barbara at barbara@thefranchiseconsultingcompany.com .