Expand Internationally

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Should I expand internationally?

Expand Internationally

Expanding internationally before you have a domestic base is really not a good idea. If you are going to do it, proceed carefully! Making a mistake in selecting your franchisee overseas will be more devastating to your expansion plans than making a mistake domestically. Do not rely on a broker. If you do have to use a broker, limit the broker's role to making introductions.

You can rely on national franchise associations, local franchise attorneys, local office of accounting firms, knowledgeable consultants, embassies, Interpol and international credit and reference services. Some search options are:

  • Trade missions. The U.S. Dept of Commerce and the International Franchise Association co-sponsor three trade missions a year. Each lasts 10-12 days and spans 3-4 countries.
  • Trade shows. The Annual International Franchise Exposition draws thousands of foreign visitors in search of franchise opportunities.
  • Embassies. Embassies can help network and qualify locals. Also, try joint chambers of commerce and industry associations
  • Referrals. Contact franchise consultants and attorneys with affiliate offices in foreign countries.
  • National Franchise Associations. Many countries have established national franchise associations that can help you understand franchising in their countries, provide help in locating franchisees and suppliers and provide guidance on local regulation.

   

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