Author Topic: Systems Give Your Business More Value  (Read 1443 times)

mehedi

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Systems Give Your Business More Value
« on: April 27, 2013, 01:44:48 PM »
When someone buys a franchise they aren’t just buying a brand name—they are buying the specific systems that led to the franchise’s success.  Systems are the exact reason why McDonalds is such as success—most McDonald’s franchises runs exactly the way every other McDonalds does, regardless of who owns or manages any individual branch.  If you develop systems for your company you are opening up the possibility of turning your company into a franchise, creating a lucrative opportunity for your future.

If you’re not interested in franchising, you should know that you may be interested in selling your business one day.  Having systems in place, all carefully recorded in an operations manual, will make your business far more valuable.  A lack of systems means you’re really just selling “FFE”—furniture, fixtures, and equipment—as well as, perhaps, a location.  Offering systems means you’re selling a turn-key business that has been a proven success.  The latter is worth a lot more money, meaning you’ll enjoy a much higher return on your hard work and creativity than you might otherwise have.

By,
Syed Mehedi Mahmud
Intern at BSDI