Franchising has made the world look really small. The well known flavors are now not just restricted to a single town or city but can be enjoyed world wide. Otherwise it would only be a dream for somebody in Asia to wear the fashion of Europe, for the West to have delectable food of the East etc. Globally as well as domestically the system of franchising has something good for everyone.
Franchising basically is the taking of franchisee- the authority or rights to sell the products of some company. Most often it is only those companies who have an outstanding name in the market that go for franchisee outlets. Like a tree expands and grows through its branches that also bear fruits, so do the renowned companies enhance their business (sales) through franchising. Franchising gives them a good opportunity to explore every small town along with overseas markets.
The process to take a franchisee is simple. All one needs to have is the required security amount to purchase the particular franchisee and a good place with an adequate business plan. The amount so taken by the company is for a fixed tenure after which it needs to be revived in order to continue to sale the company's product. This security amount varies with the kind (food, clothes, electronics?) and the market value or the goodwill of the company. is for a fixed tenure after which it needs to be revived. Escalating goodwill of a company entails a surge in the figures to purchase its franchisee. The companies besides the amount are also very particular and cautious about the area and size of the workplace to open their franchisee outlet. While handing over their franchisee to someone nationally or internationally the franchisors (parent company) educate him of their product, terms and conditions, policies and style of working. Most often these companies also give certain crucial tips to prop up the sales of their product. Weekly or bi-weekly advertisements, hoardings and the like are some of the widely adopted measures for it. Once a company sells it franchisee to someone then it is solely the onus and freewill of the entrepreneur regarding the methods he takes to promote his sales. However the prices of all articles are set by the parent company are not subject to modification by the franchisee.
Franchisee business has more or less covered all areas of human needs. Be it food (restaurants etc.), clothes, jewellery, footwear, bags, makeup kits, electronics?franchising is meant for all. It is at individual's discretion to decide which franchisee he wants to go for. This can be fairly decided by a vigilant market survey and an assessment of the standard and tastes of people in that area. For instance it will not be judicious to open a top brand's outlet of expensive clothes in a suburb region where people want to spend bare minimum on their attire. So the kind of outlet to open, in other words franchisee to take is directly proportional to the needs and status of the consumers.
All the franchisees have their suppliers fixed. The suppliers have to arrange to get the material from the parent company and pass it on to every franchisee store that is linked to it.
The 'sale' season is at volition of the franchisee. But the supplier as well as the parent company should be informed before. The prices during the sales season are reduced to half or less than that in order to clear the stock which gets accumulated and is without any serial no.(like there might be just one size or color left of a shirt, trouser etc.). Usually the franchisees do this in order to recover their money and make place for the new stock.
Thus all in all franchising is a good business that is beneficial not just for the one who has taken the franchisee but also for the consumers who get to enjoy the best of everything in their respective town, city or state.
Mansi aggarwal writes about franchising topics.
family-safe home cleaners Morton Grove ..Gather round while I tell you the story of Kennebec... Read More
When should you create a foundation in order to solidify... Read More
As an Investment Representative you've worked hard to build trust... Read More
If you are just starting your business, or if you... Read More
How is your pipeline structured?I assume most of you have... Read More
A consultant must remember that the business belongs to the... Read More
All cities have a purchasing office and/or a procurement officer.... Read More
Many pressure washing companies will be glad to take on... Read More
There is a continual trend we are seeing which I... Read More
If you've been thinking about starting a business, but are... Read More
Many investors and business ethics professionals are calling for more... Read More
I started working with another new client last week. He... Read More
If you are thinking of turning your current into a... Read More
As you reflect on this year and prepare for next... Read More
Commonly folks have asked me what the technical difference is... Read More
What are the best methods for keeping a good business... Read More
If an organization lacks a mission statement, it is worthwhile... Read More
Why Alliances FailWhen do you know an alliance is falling... Read More
If you own a mobile car washing, pressure washing or... Read More
Last year, trillions of dollars transferred hands on the internet... Read More
Competition in the business world is often viewed as a... Read More
In a quest for customers and to keep those customers,... Read More
Let's face it, we all tend to get stuck in... Read More
There's no question that hard work and a little luck... Read More
-- Beyond Cold Calling, "Warm" Calling and Sending E-mails --Many... Read More
home cleaning services Wilmette ..Buying a franchise is not for everyone. This guide will... Read More
Q: After years of dreaming about starting my own business,... Read More
"I don't know the key to success, but the key... Read More
The key to organizational focus and helping those who need... Read More
Approximately 200,000 new businesses are started each year. More people... Read More
What is a Virtual Assistant?A Virtual Assistant is a person... Read More
If I had $1.00 every time I heard someone say... Read More
In these days of insecurity and uncertain futures, the tendency... Read More
Your business is making profits, but where is the cash?... Read More
Having a successful business means also having a good working... Read More
Writing a business plan for your Solo Entrepreneur business doesn't... Read More
How often has someone thought of starting a business based... Read More
What could Seinfeld possibly have to do with marketing a... Read More
Essentially there are 5 tremendously powerful methods to make money... Read More
Aircraft Interiors of personal and corporate jets have hundreds of... Read More
Completion not Perfection Five Keys To Doubling Your Productivity and... Read More
The less a business pays for goods and services the... Read More
Most small businesses will not even try to advertise on... Read More
Treat your business as a serious, full-time business and be... Read More
If you own a mobile truck washing, pressure washing or... Read More
One of the major complaints in the QSR Quick Service-Fast... Read More
How often have you thumbed through a business opportunity magazine,... Read More
Part of the power plan is making sure you have... Read More
Being a small or home-based business owner can be loads... Read More
1. Leadership Is Learned ? While many people appear to... Read More
Small Business |