Once you’ve selected the franchise you’re going to invest in, no doubt you’ll want to get started as soon as possible. However, opening a franchise is a process with various timelines to consider. Here’s a breakdown of how long you can expect to wait before getting fully up and running.
How Long Will it Take to Open a Franchise?
From start to finish, opening a franchise can take between 3 to 18 months. However, this timeline is heavily dependent on the industry, franchise model and franchisee funding.
Service-based franchises tend to have a much swifter timeline of just a few months, but things like restaurants or coffee franchises will require more extensive set-up and planning, as you’ll have to consider site procurement, equipment installation and staffing. Retail franchises like this may take a minimum of six months to a year to open, or longer in many cases.
Understanding the expected timeline from the beginning is important to avoid frustration and ensure your finances are in order.
Franchise Timeline
As a very general overview, the timeline for opening a franchise might look something like this:
Research (4-8 weeks): Thorough research of potential franchisors and opportunities.
Application & Approval (4-12 weeks): Make contact with your chosen franchisor and complete the necessary application steps.
Preparation (4-16 months): Compile everything you need to buy the franchise, including creating a robust business plan, applying for funding, procuring a site and addressing any legal requirements.
Finalisation (2-4 weeks): Sign the franchisee agreement and pay the upfront costs.
Set Up & Opening (4-12 months): Set up your site with the equipment and design elements, hire and train staff and consider the marketing for your franchise before all your hard work culminates on opening day!
There is a lot of planning and preparation that goes into opening a successful franchise business, but the benefit of opting for a franchise over a start-up is that you’ll receive support at every step of the journey.
Factors That Affect Franchise Opening Time
The exact timeline will depend on numerous factors, so it’s important to establish an expected timeline for your franchisor once things are in motion.
Franchise Model, Processes & Expectations
One of the most significant factors affecting your opening timeline is going to be the franchise itself. A mobile or home-based franchise will be easier to get up and running in just a few months, rather than the year or more it can take for traditional brick-and-mortar or QSR franchises to open their doors.
Particular franchisors may also differ in their processes, with some requiring longer application or training periods.
Site Procurement & Set Up
Again, some industries or locations may take longer when it comes to selecting the right site. Lease negotiations may differ drastically from site to site, and some sites may require additional construction, extending the timeline further.
The complete setup will also vary depending on equipment delivery and installation, as well as whether more extensive design work is required.
Securing Funding
Ensuring you have the essential financial requirements is a major part of becoming a franchisee. Approvals for loans and fund acquisition can take weeks, if not months, depending on the lender, so be prepared to take this into account.
Franchiseness Preparedness
As the franchisee, you also need to keep things moving forward if you want to stay on schedule. While some things may be outside of your control, you need to remain organised and stay on top of business plans and financial documents, as well as being proactive when it comes to training and making the most of franchisor guidance.
Reaching Profitability
The timeline for a franchise reaching profitability is another thing entirely. You can generally expect it to take 1-2 years before becoming profitable, although, as is often the case, there are many factors at play.
You can read more about this in our guide to how long it takes for a franchise to become profitable.
If you’re still considering whether a franchise is right for you, take a look at the Esquires brand brochure to find out more about what it’s like working with us. We’re currently interested in establishing a number of new stores across the UK and would love to hear from passionate entrepreneurs who share our values and love of great coffee!
