Should I Franchise My Business. Whether you’re thinking about starting an independent concept business or you’ve already been in business for a few years, entrepreneurs should learn about the various ways to scale their business.

Major food brands like Starbucks and Chipotle Mexican Grill, for instance, grew by using private capital and decided to keep most of their locations as corporate-owned.

However, if a business owner doesn’t have the resources and time it takes to seek private capital, franchising might be the perfect solution.

But not all great businesses make good franchise opportunities. I counsel business owners that they should have a minimum of three years of operational history and be profitable. Here are some additional things you should consider:

Is the business repeatable, sustainable, and with proven systems in place?

One of the things that makes franchise opportunities so attractive is that they have proven track records and systems in place, so that an investor can get up and running quickly, without making some of the mistakes that new business owners often make. If your business is not easy to understand, repeatable, and sustainable, it will be difficult to teach it to someone that may have no experience in that area, and that will increase the possibility of failure.

Is the business adaptable to different regions of the country?

Granted, there are successful regional franchise brands that do extremely well. But when thinking about franchising your business, you’ll want to have the “sky’s the limit” attitude going in.

This means your product or service will be much more attractive to a wider audience if it can be successful anywhere in the country—and also internationally.

If you have a product that is difficult to obtain in a certain region or the service you’re providing is needed only in areas based on a certain climate, then that limits the population of investor owners.

Gary Brackett, The Stacked Pickle franchisor, said that one of the keys to their success is that they aren’t simply a sports bar, but part of the local community.

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