In this article in Entrepreneur, the CEO of iFranchise Group, Mark Siebert, notes that while businesses must constantly evolve, the pursuit of absolute perfection can actually be the enemy of progress.
In decades of experience as a consultant in franchising, Siebert has seen many company owners worry that their businesses must be perfect before they consider franchise expansion. He argues, however, that while a systemized approach to business growth requires constant improvements to a business model, growth should not be delayed while waiting for perfection.
Siebert references multiple examples of recognized companies across a range of industries, from retail to foodservice to B2C services, and how they determined the appropriate timing and strategies when launching their franchise expansion programs.
The article also discussed the three core criteria for assessing the franchisability of a business.
In summary, Siebert acknowledges that a business concept does not have to be deemed perfect before franchising. It simply needs to be well-prepared and market-appropriate.
