Franchising is the way to expand

According to many small business owners franchising is the way to expand their business.

For example Stamatis Kapsimalis a successful franchisor says his decision to franchise his business hailed from a dream he had of owning a chain of stores across the country.

Kapsi as he is affectionately known by staff and customers says he thinks franchising is the future of business because it allows the business owner to grow his business. For small business owners wanting to expand their business with more stores it is easier to turn their store into a franchise. It relieves them from having to deal with the day to day business of their new store. It also increases their back office since certain will not be done by the franchisee but handled by the head office. Most of the franchise formulas however tend to outsource bookkeeping and accounting so this frees up more of their time. The common misconception that small business owners have when trying to franchise their business is that it is easy money for them. I personally know of an example of a painter who wanted to franchise his business so he could take on bigger jobs. In the progress he contracted two of his fellow businessmen to join his franchise but he forgot that with the contracts he had drawn up he would become financially responsible for their businesses as well.