How to Transform Your Business Concept into a Franchise Business Model?

1
How to Transform Your Business Concept into a
Franchise Business Model?
2

• Ideas dont make you rich. The correct execution
  of ideas does. "
•  
• In today's highly competitive world, innovation
  is the key to success for any entrepreneur.
  Ultimately, a successful business starts with a
  great idea, no doubt about it. In this
  challenging economy, franchising can help you
  grow your business and take it to a higher level,
  while franchising is a great way to grow your
  business by reducing the overhead costs of
  opening your company's branches in new locations.
• You might be surprised to learn that McDonald's,
  Subway, Domino's Pizza, the giants of the
  franchising world, started from a small store
  like a small business. But becoming a franchisor
  is not the surest way to success. The right
  effective business concepts are essential for
  starting a franchising business effectively and
  successfully.
•  
• 1.     Once your business model is ready,
  evaluate it first
•  
• The first question is whether your business is
  franchisee. Is another location viable for your
  business? Do customers demand your product or
  service? Is your business profitable enough to
  expand your business? Is the company's target
  market large enough to provide adequate support
  systems for franchisees at various locations?

3

• Opening franchises in other locations under your
  ownership guarantees that your business model
  will not be duplicated and will be scalable. Once
  you get two successful and profitable locations
  you are sure that the business will not close and
  then you can more easily branch out to other
  places.
•  
• 2.     Do market research
•  
• How much demand there is from customers outside
  of your city for the products / services that
  come under your brand in terms of your franchise
  business and how much opportunity there is for
  new competitors in the local market? Do market
  research to know this.
•  
• 3.     Choose the right locations.
•  
• Stores at which locations keep your company in
  good condition? Where did you get the brand
  recognition earlier than expected? Choose a few
  locations near you for the start, but at a
  distance so that sales of your starting location
  will not decrease. That way you can easily manage
  logistics.
•  

4

• 4.     Create legal documents
•  
• As you prepare your legal documents, draft your
  franchise agreement, lease and royalty agreement.
  You have to make a lot of decisions about how you
  will act as a franchisor. It includes the
  following points
•        Franchise fees and royalty percentage
•        Term of franchise agreement
•        The size of the area in which you are
  approving the franchise
•        In which geographical region would you
  like to offer a franchise?
•        The type and duration of the training
  program you are offering
•        Does the franchisee need to purchase
  products or facilities from your company?
•  
•  
• 5.     Hire skilled staff
•  
• Usually, as you prepare to become a franchisor,
  you will need to hire a number of employees who
  are fully focused on helping the franchisee. Your
  'Service and Support' team is responsible for
  answering the franchisee's concerns and problems
  and ensuring quality control. Set your service
  criteria and insist on high quality.

5

• 6.     Franchise sales
•  
• If you are a franchisor in the market, market and
  sell your franchise now. It is difficult to sell
  a franchise because of the high risk involved.
  Your salesperson should be well-informed about
  your company and be prepared to give a convincing
  explanation of why their time and money are worth
  investing in.
•  
• Contact Us
•  
• Call/WhatsApp [phone]
• Address 450, Mastermind One - IT Park, Royal
  Palms, Aarey Colony, Goregaon (E), Mumbai,
  Maharashtra 400065.
•  
• http//franchisebirbal.com/