Why take up a Franchise
BE YOUR OWN BOSS…….
By: Gautam Sahni
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One’s desire to start his/her own business and become the Owns Boss ……..
Below are reasons, for an individual to divulge in to franchising:
1. Association with a Brand : One of the biggest advantages of franchising is that the company has already build a brand that has a have value in the eyes of customers.
2. Success to be succeeded : The Franchisor has developed a method of doing business that works well and produces successful results. All the relevant Know How is available and the wheel need not be repeated again….
3. Training : The franchisor provides full training to the franchisee regarding the successful methods to run the business. Also catalogs, manuals and necessary reference materials is given to assist you in dealing with whatever comes up while you’re running your business.
4. Operational Support: Franchisor is dependent on the franchisee for its own SUCCESS. The franchisor provides assistance through its CRM for building and running the business. The franchisee can call for HELP / NEED to its elder sibling which is the franchisor.
5. Marketing Assistance: The franchisor gives marketing assistance to provide franchisee with proven tools and strategies for attracting and retaining customers. Usually, the CRM team of the franchisor helps franchisee develop the actual marketing plans and budgets for your grand opening as well as your ongoing efforts to market your business effectively.
6. Location: Franchisors do have locations in hand from MALLS, Property Owners etc which are well and pre negotiated. Also Franchisors assist in finding and finalizing the right location at the right rentals with proper legal documentation check.
7. Making of the Store/office/site: Franchise companies can also provide a wonderful benefit in helping you design the layout of the business and select the right contractors to do your build out, as well as making sure you get the exact mix of furniture and equipment you need to maximize the efficiency of your initial investment.
8. Economies of Scale / Buying power advantage: Since the franchisor is buying the fixtures fittings for various stores, they have a added power of price concession which is transferred to the franchisee. Also incase of goods / products it is the economies of scale which adds the value for money proposition for the end customer.
9. Success Mantra: The franchisor can feed you with its expertise, established brand name, value for money products etc…… but it is you who has to CHEW ( WORK HARD) to make it success………..
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