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.
Whether you operate a chain of restaurants, a mom-and-pop convenience... Read More
There are many factors to be considered when you are... Read More
Q: A friend told me that as a woman of... Read More
Sometimes when you run a business you feel as lonely... Read More
Your business is only as good as the number of... Read More
Writing a business plan for your Solo Entrepreneur business doesn't... Read More
The Federal Trade Commission is assisting competitor to cheat and... Read More
The following tips have come from a wide variety of... Read More
Debt collection letters--an overview"Debt collection letter" in the singular may... Read More
Starting a business? For many people, the bravery to venture... Read More
Don't let your customer satisfaction research initiative collect dust on... Read More
A Small Business Opportunities Magazine is one of the new... Read More
Many years ago, I had warned the carwash industry of... Read More
All cities have a purchasing office and/or a procurement officer.... Read More
You know what makes me really happy? Drinking a Starbucks... Read More
Sometimes the simple businesses are the ones, which make good... Read More
Often smart entrepreneurs look for out of the way businesses,... Read More
Some of the greatest words of wisdom for any man... Read More
Here's why 'WHY' is such a profit-making marketing trigger."Stop taking... Read More
New Franchisors and Entrepreneurs need to watch out as they... Read More
I recently met with a very successful magazine publisher who... Read More
Why would you use an event pass?Event passes are often... Read More
Passion. Passion alone can make your business successful. As an... Read More
Business consulting opportunities might be just what your are looking... Read More
The air in my client's office nearly crackled with her... Read More
Shipping materials can be expensive! Even the styrofoam "peanuts" can... Read More
Due to the over regulation in the Franchising Industry and... Read More
Tammy, a skilled and gifted horticulturist, called me to discuss... Read More
How much is your time really worth? Is it worth... Read More
You know your prospects need what you sell. You know... Read More
Tap these treasures of ideas. The best money you can... Read More
Office support services can range from basic data entry to... Read More
Concrete cleaning can be a lucrative business to start. Here... Read More
It is imperative to have your business legally prepared. How... Read More
Contrary to popular belief, small businesses can survive a crazy... Read More
In franchising an individual desirous of their own business will... Read More
The key to organizational focus and helping those who need... Read More
Are you responsible for your results?What comes to mind when... Read More
You only have so much time in a day right?So... Read More
How a donation is different from a sponsorship and what... Read More
While I was hard at work last week, an everyday... Read More
You've been meaning to tend to the administration part of... Read More
Everyone is talking about small businesses. In 1993, when it... Read More
Looking for a place to add a Quick Lube away... Read More
Running a business, whether large, small or in your home,... Read More
Frankly, given the legal and regulatory requirements involved in attempting... Read More
Multimedia is everywhere on the Internet, whether in the form... Read More
Have you ever wondered what the difference is between a... Read More
Does your small business have a banking and credit card... Read More
You may be in Mail Order, Direct Mail, or you... Read More
Small Business |