Time Frame: Getting a Franchise Up and Running

So you’ve carefully considered an exciting change in your lifestyle and future. It includes franchising. You’ve done your research on how it works, how to be successful and which pitfalls to avoid. You’ve researched a few concepts in the investigative process and even checked out your funding options. You then look up from your stack of paperwork and ask, “Say, how long will it take for this franchise to be up and running?”

*sound of record scratch*

Let’s back up here. Because that’s a bit of a subjective question. Nevertheless, you deserve an answer. Unfortunately, we’re stuck with the Facebook relationship status equivalent of “It’s Complicated.” There are so many factors that go into buying a franchise of your own that there isn’t a routine answer, though most experts agree—if you pin them down—expect to spend anywhere from two to 24 months, start to finish.

So what does the time in between include? Well, it begins with your decision to take charge of your future as you head down the path to entrepreneurship. Your own time spent on franchise research counts, as the clock has already begun ticking. Once your end of everything is squared away, the remainder of time before you can open the doors for business truly depends on the individual franchise concept. But know this—they also want to get you up and running as soon as possible.

Securing a lease may be part of the process, so how long will it take you to find a suitable real estate location? You wouldn’t rush your decision when finding a suitable home, therefore treat your new franchise location with the same care and attention to detail.

If building out a new location, how long will construction take? Depends on the square footage, materials needed and—yes—even the weather. However, if your franchise concept is home based (like business coaching or consulting), you’re ready to roll right away.

Another thing to keep in mind is that franchise registration and business operation permits and requirements vary per state in the U.S. So do their response times.

And let’s not forget your all-important franchise training classes. While some are very straightforward and simple, other concept programs can last for weeks and include multiple employees.

There is one common denominator in the process. The franchise concept you choose should easily be able to indicate the time frame you’re looking for. And if you’ve been involved with the validation process, you likely heard the question answered by existing franchisees in the system. If a franchise concept can’t give you a suitable answer on how long it will take to be operational, you should take that for what it’s worth.

Once you’ve made the commitment to becoming a franchise owner, be ready to devote the time necessary as patiently as possible. While we understand that becoming your own boss is exciting, we always counsel patience and due diligence throughout the franchise process. Rushing any decision in the franchise process may prove to be disastrous down the road. And we want you to be successful.

In the grand scheme of things, the entire process from decision to franchise to becoming a legitimate franchisee should take anywhere from six months to a year. At least that’s the best rule of thumb assessment we could come up with. Though the length of time necessary to become operational is highly dependent on multiple factors, there is no need to be discouraged or confused. At FranNet, we’ve been known to give some pretty accurate assessments.

Stop by some time and we can run the numbers for you.

Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!

May 2, 2017