Expanding your franchise concept internationally is a challenging decision. It can offer tremendous growth opportunities beyond your current home market. However, doing so prematurely can put undue stress on your system as you try to replicate your U.S. operations for a culturally different demographic while also managing domestic expansion and support.
Before expanding to new international markets, ensure that your business concept is thoroughly developed, all intellectual property is registered and trademarked, marketing materials and manuals are translated, and you have a local team available in the targeted markets to assist with launching and troubleshooting.
Inexperienced franchisors should avoid rushing into international expansion without conducting thorough research and laying the proper groundwork. International units can be more challenging than domestic ones due to travel distances, language barriers and cultural differences. It's essential to ensure that your products or services are needed or wanted in your target international market.
So, if it's this challenging, why not just stick with growing domestic units and skip the international headaches? For one, the ability to introduce your products or services to new, untapped markets can be a significant revenue boost, especially if........