How to Franchise a Business: Three Signs Your Print Shop Is Ready for Conversion
As an independent print shop owner, you are always looking for ways to make improvements to your business. At some point, you may decide the change you need is franchising. Joining an established and proven brand helps you grow in ways rarely possible with an independently owned print shop. Plus, franchising gives you the advantage of support and guidance from industry experts dedicated to your success and a network of like-minded entrepreneurs — your fellow franchisees — who can share valuable information to help your business grow.
<h2>Benefits of Franchise Conversion
There are three signs that your print shop is ready for franchise conversion. First, you need the expansion for additional customer reach. As an independent print shop owner, your competition in the market is among major brands that are heavy hitters. Expanding your reach to a broader customer base with a strong franchise brand name increases profit potential. Along with that franchise name comes a sophisticated marketing and advertising plan designed to let your current customers know you have more to offer and promote you to potential new customers.
Print remains a strong industry, valued at more than $78 billion this year. However, independent print shop owners will struggle for their piece of the pie in the marketplace. Taking your print shop to the next level as a franchise strengthens your business. A strong franchise will provide extensive training and continuing education, which will assist you in understanding the latest directions in the print industry. That may mean more sophisticated computer programs, equipment, and technological advantages to help you meet and exceed the competition.
Secondly, when you franchise a business like a print shop, you gain additional revenue streams because you increase your offerings. If your menu of services is enhanced, you have a wider appeal to prospective clients. Franchising with a brand makes your business stronger. As an independent owner, you have been through the startup process, building your business from scratch. Converting to a franchise should be a seamless transition if you partner with a strong brand with qualified leaders positioned to assist in your renovation. Aligning with a recognizable brand means you are not simply surviving in the print industry, but by widening your scope of services, you will have the opportunity to thrive. Printing companies are now diversified into design, promotional, and marketing services. Being part of a franchise print shop means you can gain access to the latest industry trends and innovations.
Finally, you may be looking toward franchising as an exit plan. Perhaps you see retirement in the future. As an independent print shop owner, your business may not appear as attractive to prospective buyers “as-is” compared with a franchise print shop. But learning how to turn your business into a franchise allows you to grow the value of the business, helping you sell it when you’re ready.
<h2>Sell or Franchise?
As an independent print shop owner, you may see that it’s time for a change. The competition is fierce, so you may have to make the tough decision to sell or fold. In order to sell, your business needs to be in good shape. No one will purchase a business that isn’t profitable. You need to get your financial records in order, increase your customer base, if possible, and determine the value of your business to make it more attractive to potential buyers.
Determining the appropriate valuation, getting years of finances and tax returns in order, and finding qualified buyers, require the expertise of accountants, lawyers, real estate brokers, and valuation experts. It is a lengthy and detailed process that can be very costly.
<h2>Franchise with Allegra Marketing-Print-Mail
Converting your independent print shop to a franchise print shop is a lucrative decision. Instead of worrying about selling, choosing to franchise has the possibility of taking your business to the next level. If you’re wondering how to franchise a business, leave that to us at Allegra. We are leaders in franchising, providing you with the know-how to convert your business.
We are a one-stop resource for business communications needs including printing, direct mail, signs, displays, promotional products, marketing consultation, graphic design, web marketing, and mailing services.
Consider this — printing and marketing franchises like Allegra, offering the latest trends and innovations like digital services, are most likely to thrive as the industry evolves. Print is a strong industry, but to remain progressive you must stay ahead of the trends. Allegra Marketing-Print-Mail Centers do this by offering a variety of services that provide multiple revenue streams to our Franchise Members.
You are used to being your own boss. That won’t change. In fact, franchising with Allegra will only amplify your business ownership. You won’t go it alone; you will have a community of supporters to assist you.
For print shop owners like you interested in joining our franchise, Allegra provides several choices. You may consider a traditional long-term franchise agreement or, if retirement is upcoming, we offer a five-year agreement. This allows you to grow the value of your business, making it more attractive to buyers and more profitable for you.
This conversion from an independent print shop to the Allegra brand is called our Allegra Advantage Program. You maintain the ownership with the added brand benefits. This program will help you increase sales and earnings, build greater equity, and operate more efficiently. Check the boxes. The program is for you if you want to grow your business with a national brand name, want the support of industry experts and fellow franchisees, and are looking to generate growth through innovation and industry trends.
As a Franchise Owner with Allegra, you will diversify your offerings, providing you with multiple revenue streams like digital printing, wide-format applications, promotional products, direct mail, and web development. You will benefit from the expertise of our skilled Acquisitions team, who can assist you in further growth.
You will receive top-notch marketing support as you convert to the Allegra model. Experts will guide you through our digital and traditional marketing plans, which will assist you in lead generation.
One of the biggest perks you will gain as an Allegra Franchise Member compared with your independent print shop is the noticeable financial savings through group buying power.
Plus, as mentioned earlier, if you are utilizing this franchise opportunity as an exit strategy, we are there to assist you in selling. No need to pay high business broker fees to sell as an independent shop owner. You will be positioned for growth and the sale of your business when you’re ready.
If selling your independent print shop is the direction you want to take, our Allegra resale program provides you with pre-qualified buyers ready to purchase it. Our experienced mergers and acquisitions team makes sure everything goes as smoothly as possible for both the seller and buyer.
If you want to learn about selling your business or want to get more details about the Allegra franchise brand, we’re here to help.