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Three things to consider in franchising overseas

Thinking of bringing your brand abroad? Find out if you are ready with these three questions first.
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Expanding overseas, via franchising or otherwise, is probably one of the biggest dreams an entrepreneur can have.

Thus, the first opportunity to have an international franchise of a brand has always been tempting but franchising expert Albert Kong said there are a number of factors to consider in going overseas. [See the ins and outs of territorial franchising here]

"It is very important for a business owner to know first if he is ready for franchising abroad as it will entail a lot of investments. [Read about creative solutions on possible challenges in franchising here]

While there are more than a hundred factors to consider in deciding whether to franchise your brand abroad or not, here are three basic questions which Kong believes a business owner must ask before considering opening the business to international franchising:

1.    Am I strong in my own country? Is my brand, or the products that I am selling considered an industry leader? [See tips on strengthening your brand here]

2.    Do I have the capital to expand overseas, both for logistics and marketing strategies? [Read about businesses that started with little capital here]

3.    Are my potential partners or franchisees abroad also have good track records in franchising foreign brands? [Read about the possible conflicts that a franchisee and franchisor may encounter here]

 

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Five must-haves in franchising

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