Creating a Successful Franchise Business

Wednesday, February 13, 2008

Posted by siva

Franchise Opportunity

There are many companies that decide to stay a single-chain store and move up the ladder of financial domination by simply controlling all of the stores and outlets that they open up. On the flip side there are also companies who decide to let their store become someone else's by giving the public an opportunity to open up a franchise. Both of these ideas are important, but creating a franchise opportunity for interested parties is something very important that would be good for the whole company to do. Unless you allow franchises as much freedom as possible in their contracts chances are that you'll want them to stick as close to the company's policies and products as possible so as to not tarnish the company name!

Large companies are the ones who mainly allow others to open up franchise stores, but there are also other smaller companies that definitely should allow it. For example, small towns that have stores, restaurants, and shops that are very popular with the townsfolk there should definitely consider allowing others to open up franchises in other places. If you are a small-town store owner and would like to create a franchise opportunity for interested individuals, here are a few guidelines to remember about making the franchise opportunity a successful one:

It Is Your Company!

Whether or not you will remember this in the end is up to you and how hard you negotiate the contract, but the main lesson to remember here is that a franchise store of your company is still your company, but it is only an extension of the products and services you are offering to people in your neighborhood. When someone approaches you to ask if franchise stores are allowed you may immediately reply "no," but you should definitely reconsider because franchise opportunities are a good thing for both the whole company and the individual who wants to start one.

Another issue that goes along with remembering the whole company and its name is the fact that you, as the company owner, get to be in control of the majority of the contract with the franchise store. If you don't want a certain aspect of your company to change, such as the seating style or the companies that you buy supplies from, all of this needs to be stated in the franchise contract! Everything that has to do with how the franchise presents itself is also very important so that the company name doesn't earn a bad reputation!

Explain Out Everything!

Along with making sure that the franchise owner knows your wishes for the franchise itself, something else that you will definitely want to do is to spell out everything in the contract itself. Making everything clear for the franchise owner is important so no one is confused!

All of these things are important when starting a franchise opportunity of your company for those that are interested in owning them! In turn franchises that are created in the company name essentially mean more profit for you in the long run, which is yet another reason why they're considered a good venture to follow!

Franchise Opportunity - How To Run A Successful Franchise Opportunity

Posted by siva

If you're interested in purchasing a franchise opportunity, then you'd be smart to want to know the best ways to maximize the franchise opportunity for profit. That's what this article is all about. Specifically in this article I will discuss strategies you can use after you purchase a franchise to maximize the return on your investment.

Running a franchise successfully starts with buying a successful franchise. It's hard to turn sow's ears into silk purses. This means before investing in any franchise opportunity, you must do the proper research. Not only must you determine whether or not the franchise is a profitable business model, you also have to make sure it will work in your area, you won't saturate the market and that the franchise agreement you enter into gives you reasonable rights to the franchise name. By doing the research in these areas, and talking to people who have owned franchises and the opportunities you're looking at, you will start on the right track.

After investing in the right opportunity, it's time to get the work. Know that you will not have all the answers right away, and that's a good thing. As long as you know where to go to get the answers, you will be okay. That means that you must follow the plan laid out by the franchise opportunity, and then ask a lot of questions along the way. So the franchise you invest in better have good customer support and ongoing training. That way when you ask them why they came up with a certain solution in their franchise system, they will be able to give you a reason that will help you from a business standpoint.

Besides getting good support, and attending franchise seminars, you must also know how to hire and manage employees. Finding good employees is not something you can do by writing an ad placing it in the paper. It comes from going through a lot of average employees, and building a team. If you can't do this on your own, you should hire a manager who has been these abilities. The business is only as good as the people in it. In other words, no matter how good a franchise opportunity you have, it can crumble to dust if you have morons working in it.

In conclusion, running a successful franchise comes down to simple things. By investing in a winner from the start, by getting ongoing support, and by having a good team behind you, you will be leaps and bounds ahead of most franchise opportunity investors that are out there. As you investigate various franchise opportunities, be sure to not fall into any potential traps. Be sure to stick with a franchisor that has a solid management team, strong ethics, and a strong brand presence. Start-up franchises may look appealing, but chances are they are more risky and will end up being more trouble in the end. Franchising can be one of the most worthwhile investments you will ever make.

Gateway to New Franchising Business

Posted by siva

Franchising business is a very specific way of selling or distributing a product or service. It has evolved from granting the right or privilege of selling a good in a sophisticated and an organized business format. It is a perfect business for an individual who has the means, the money but not the method, a perfect plan for starting the business. There is a new franchise business opportunity available for anyone & everyone who dreams of setting up a business venture.

Franchising in India is a very upcoming trend that is popular with enterprising individuals who want to invest their time and money in something substantial. There are different types of franchising solutions. In one type, the franchisers grant the right to sell the products. Another type of franchise is the name and process franchise, in which the franchiser allows the franchisee to use the name and process or recipe of the franchiser. The present franchise model is a business format model in which total transfer of the business model takes place. The franchiser, who originally develops the model, offers total support in exchange of a percentage of profit and the initial startup fee or charge. The franchisee is provided with all the training systems, operating systems, and management methods by the franchiser. The franchiser also offers some initial training upfront along with the ongoing training and lifetime support imparted to the franchisee.

Franchisees in India are reaping benefits from this innovative concept as it offers business opportunity to the ever increasing size of the youth brigade who are looking for decent earning opportunities to support themselves. The future of franchising is very bright as this is a proven system that is advantageous to both the franchisor and the franchisee. Most of the successful businessmen, now aiming for a global presence, franchising is the perfect tool to fulfill this ambitious dream. The franchiser can see the success of his formula growing manifolds while the franchisee has the backing of a tried and tested business formula, posing minimum risk to his investment, thus increasing his profit margins. It also offers an alternate means of income to the franchisee.

www.franchiseplus.com is the source of all the information related to new franchise business opportunity. Franchise plus is a bi-monthly magazine that offers lessons of success & failures, reports trends, conducts surveys and tells inspiring success stories of successful businessmen and business women. Therefore if you are a budding entrepreneur looking for the perfect opportunity visit the site and subscribe to Franchise Plus, the storehouse of Franchise Information India, today.

Franchisors and franchising business

Posted by siva

Though franchising is a phenomenon that is in operation in India for several decades, it has suddenly become a very trendy business formula. With the advent of global players in the arena the whole perception of the business has changed. Businessmen have now awakened to the potential of the concept and want to exploit it to reap benefits. These Franchisors in India, are the new breed of entrepreneur who want to own a business but want to minimize the risk factor. Therefore they opt for the safer option then the traditional business, the franchise business.

Bata shoe chain established in the sixties is one of the oldest franchisors in India. The franchise opportunities have increased with the growth in the service sector. India has no specific law for franchising and it comes under the broad category of transfer of technology. There are many areas of the law that affect this franchisor-franchisee relationship. Intellectual property, competition, property, taxation, labor, and exchange control regulations influence franchising to some extent.

Franchisees in India are an upcoming and a popular concept and are refining and evolving themselves to attain a more organized state. The Indian franchisors are more concentrated in IT education sector with NIIT and APTECH being the torchbearers. The other sector is the food or hospitality industry, which is popular with Franchisors in India, as a lucrative option. The international franchisers as compared to their Indian counterparts are more organized and have very defined formulas and believe in strict adherence to their systems. The Indian franchisers are a bit more flexible and try to adapt to the region they are serving.

The Indian government permits international franchisers to charge up to 1% for domestic sales and 2% on exports for using the brand name or trademark of the franchiser, incase there is no technology transfer. The government has a specific formula for calculating royalties that must be strictly followed before remitting funds out of India by the foreign franchise company. If the royalties or the lump sum fees are more than the limits the company should have the approval of Foreign Investment Promotion Board.

Anybody can exploit a Franchise opportunity in India, with a bit of planning and prudent thought. Franchise plus is a bi monthly magazines that informs the reader about the latest trends, opportunities available and different franchise companies in India. Visit the site www.franchise-plus.com to gain more knowledge and to subscribe to this useful magazine franchise plus.

Business Opportunity to franchise in India

Posted by siva

Looking at the growth opportunities to become a franchise in India, you have decided to start your won franchising business. After all taking the franchise of a known brand is far less riskier than starting your new business. You have done extensive research on franchise-plus.com to find the directory of franchisors in India. But now is the time for you to decide which franchising business? You can ask a specialist from franchise-plus.com who can guide you to the right business and type of franchisors. But before you initiate your discussion with specialist, you can do a little brainstorming options of franchise in India?

To begin with, define your goals and know your interests. You might get vague answers at the beginning. As and when you read and hear more about franchisees who are already in the business for some years, the mist will start to get clear. Defining your goals will also mean that you get clarity on your financial goals. In the next two years, think of the realistic bank savings that you would like to have. Have a closer look at your interests for example, have you been interested in cars or real estate. Which is the business opportunity that best captures your interest and you feel absolutely confident that you can make it grow with your innovative ideas and management skills. If you are still unsure, use the Internet to educate and update yourself. There is exhaustive information on franchising business opportunities available on the Internet. There are business opportunity magazines that can provide you a lot of information on the pros and cons of starting a new or small franchise business. You can even go to your nearest bookstore to find books on the same subject. The next step could be to look at the amount you are willing to invest. Never forget that no business will start earning you reward from the first day. It takes time, perseverance and patience for any business to earn profits. You should be fully prepared to sustain yourself in tough times or when a business move backfires. Assess the amount of your liquid capital, the capital that is available for instant investment in your franchise business. Do not spend all your savings on investing in a franchise business, no matter how attractive the offer might seem. If you qualify, you can even get a loan from a bank to invest initially in the franchising business. For more information please log onto www.franchise-plus.com .

Franchise Information in India

Posted by siva

More and more people working in the corporate sectors are quitting their jobs to become entrepreneurs. Many become franchisees and earn both wealth and reputation. There have been many success stories and many are being written everyday. If you too have been toying with the idea for sometime, but wondering if the franchise information in India is limited, you are in for a pleasant surprise. With franchising boom in the country you can find information on best franchise opportunities in India, from many sources. At Franchise Plus, find reliable and latest franchise information in India along with expert views, news, analysis, opportunities and trends in the franchising sector. In the hundred pages of this bi-monthly magazine, find everything you would want to know about becoming a successful franchisee in India.

Indian franchisees can choose from a plethora of international as well as domestic franchising companies. There are numerous franchising options available in various sectors. There are also many attractive options for women, which explain the emergence of women in this field. With increased use of technology, business can be carried out right from home. This is especially useful for stay at home women. Cosmetics, healthcare products, services, home business, household products and e-commerce ventures, make for convenient yet rewarding franchising options. Franchisors provide training and support, and your business can gain from the image of the franchising company.

Advertising, dating services, security systems, video rentals, printing services, computer services, real estate, hotels and travel agencies and many more – find franchise information in India in any of these sectors, at Franchise Plus. Unlike starting up your own business, as a franchisee, you need lesser capital and you also have a brand name that people are already familiar with. You will be provided all support, know-how and training, but you need to adhere to the fanchisor’s quality requirements.

Franchising offers a win-win situation for both the franchisor and franchisee. While the franchisor’s business expands multifold, the franchisee can gain by a great income and a flexible work style. However, to be successful you need to do your spadework well. Also remember, there’s no substitute to hard work. What you earn will depend on how much you give to your business. Assess yourself on your financial strengths and business capability and invest in a business that interests you. But before that, study the market, the trends and the franchisor’s track record. Study also the franchisor’s financial condition and the terms and conditions of the franchise.

Start building your knowledge base on franchising and find the best franchise opportunities in India, at Franchise Plus. Forget the old; tread on a new path – the path to being an entrepreneur!

Do Correct Investment in Business Opportunities

Posted by siva

Business opportunities are only good when you know what you want and what you are doing. All to often people let a good business opportunity pass them by or they will jump into something when they really don't know what they are getting themselves into. The business opportunities are only as good as the person who is investing in them. If you do things correctly then your business will grow and expand.

There some things that you should keep in mind when you are looking to get involved in some business opportunities. You should never believe claims that you can make money with little no effort. Any business opportunity that you come across will require that you put in the time and effort in order to make this business opportunity work. If you are not willing to put in the effort then there is not guarantee that you business opportunities will flourish.

If you are interested in certain business opportunities than you should get all needed information in writing before you commit to anything. If you are in contact that with someone who is selling a franchise or business opportunities then you should be able to get all needed information from them. This information should include any past financial information, employers and contact people as well as some predictions for the future. Seeing all of this information written down can help you to get a clear picture of what you could possibly be getting yourself into.

Business opportunities are not without their risks and this is something that you should always keep in mind. All to often people invest thousands of dollars into a company or business opportunity and then are amazed when the company fails or does not live up to what they expected and they wonder what they will do now that all the money is gone. People sometimes forget that there is a chance that they will lose everything. If you are not willing to take this risk then there are certain business opportunities that you should stay away from.

Franchises in UK

Sunday, February 10, 2008

Posted by siva

Starting a business is a daunting task because it requires huge investments. There will be high risk in this type of business; chance of loss is very high. Financial risk is reduced significantly in the case of starting a new franchise business. Cost of starting franchises are very low, resources needed for running the business is minimum and can be reduced even more. Finance Select UK franchise is only £6595 for example.

There are many franchises in UK, Trash Express, Clean Machine, Finance Select are just some that are advertised on the Franchise Select UK website. Some are low cost and some are high cost franchises. While considering the franchises in UK, there are various things to be taken into account.

Go for a franchise that has proved its place in the market and is a highly reputed one. Check whether the franchise is following the rules and regulations imposed by British government. Franchise should follow the rules of British Franchise Association. Discuss with the people who are already running the franchise and find out their way of operation. Study whether the franchisor is interacting with them for improving their business. For example, Trash Express franchise or Clean Machine franchise, you can spend a day with one of the current franchisee's to see how they work on a day to day basis.

Find the cost needed for building up the franchise and also the resources required. Make a note of monthly charges imposed by the franchisor. Franchisor may charge for several issues for example charges for advertisement, charges for supplying the goods etc. Also there are certain franchises that don't charge fee's, but charge for goods or services, like Trash Express you will only pay for bags and bins which you need to buy anyway. Clean Machine you only pay for cleaning materials, again which you need. All these and many more franchises can be found on the Franchise Select UK website.

The main thing is the franchise agreement; there should be a standard legal agreement between the franchisor and the franchisee. All the agreements made should be rechecked by an experienced person in the franchising field.

There are various franchises that can be operated easily for example Clean Machine franchise, Finance Select UK, which can be run by a single person. There are even bouncy castle franchises like Bounce World which can be run from home by just one person.

Franchise for Sale

Posted by siva

Franchise business is a breeding ground of many opportunities. Buying an existing franchise is similar to buying a business owned by some other person. It is one of the safest ways to own a business with minimum risk.

It is profitable for both persons who is buying or selling a franchise. When you have decided to sell your franchise, initially you have to contact a franchisor. The franchisor will impose some rules and regulations for the franchise. Franchisor will provide a proper structure of cost and other charges for your franchise which include property lease and other parameters of your franchise. Thus proper price can be set for your franchise.

The main thing is to find the right customer who is ready to buy the franchise. For that it is necessary to consult a business broker. Before buying a franchise, the owner should become aware of the FTC Rule which requires that a franchise or business opportunity seller must provide a disclosure document at least 10 business days before the person pays any money or legally commit to a purchase. The next idea is news paper advertisement and advertising in websites under relevant category.

When you find a relevant customer, explain to him why you are selling your franchise, various advantages when buying a successful business model and also about the profit he can earn.

There are various sites which provide information for finding the right customer as well as the details of the franchises for sale. When you have earned reputation for your franchise, you will be able to sell it in much profitable way.

Buying A Franchise Business

Posted by siva

Buying a franchise business is one of the most difficult decisions you have to take in your life. It is vital that you seek expert advice before buying a franchise. Franchises in UK are becoming more and more popular; many of which can be found on Franchise Select UK. Profits are much higher as compared to previous years. Thus it's a fantastic opportunity for better earning.

The initial investment should be considered first before buying a franchise business. Finance Select UK for instance start at only £6595. Then you must check whether your proposed business can be a success in that particular area where you are going to start the franchise.

Better choose a franchise which is nationwide so that there is more chance for getting more customers while compared to local competitors. If you select a nationwide brand you should follow all the criteria followed by them. Please make a detailed report of the trading history of the franchise you have decided to buy.

Ask franchisor the contact details and the trading details of an existing franchise.

In the case of new franchise companies, it's very difficult to get references from other people who are running the franchise, but they tend to offer incentives and discounts to get you on board and sometimes getting in at the start has its rewards.

Franchisor should provide proper training for better operation of the franchises. Training should be based on the business methods followed and the way of implementation of those methods. The franchisor should provide ample support for all the business related activities. Franchisor should be able to handle various issues and disputes that may arise. You should carefully verify the agreements related to the renewal and resale of the franchise.

Check whether the franchise company is a member of franchise association. In United Kingdom, British franchise association have adopted several policies for better operation of the franchise business.