Why step in to franchising world

Frantastic Franchise Consultancy

Why step into the franchising world?

If you already have an established business and wondering how best you can approach expanding your business- consider franchising. Why franchise? View the following top ten reasons why franchising is good for business expansion: 1. Attain Quicker National Exposure Your business will grow much quicker as a franchise network than an independent sole trader.

New outlets will add to your business portfolio and increase your exposure, profitability, and sense of business success. The costs you pay at the beginning will be paid by costs withdrawn from franchisees investing in the business.

Also, costs incurred from setting up independently owned business outlets will be much higher than the costs you will have to pay for franchisee training, PR, launch assistance and so on. The long-term benefits of franchising far outweigh the benefits associated with setting up independent business outlets.

2. Entice Like-Minded Business Magnates

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By the time you recruit a franchisee, they will have been through an uncompromising selection process, personal and professional questions, and much more. Thus, you will be certain that when the franchisee takes on to invest in your business, they will share your passion for the business model and your vision for its future growth and profitability.

This is the great thing about franchising your business- knowing that other people share your business dream and will put all their effort into making it a success. They will be more motivated and hard-working because they are sharing a business dream that works for them, rather than independent business managers who are salaried by you. Franchisees have a vested interest in the business because simply, their livelihoods dependency upon its success.

3. Diminish your Competitor’s Capabilities As you raise more and more motivated franchisees and gradually grow your business franchise network, you will be in essence “weeding” out the competitions stronghold in the market your business franchise is located. In other words, as you grow stronger and bigger and draw in existing and new customers with a “new product or service” that’s different from the competition- you will be reducing the impact of the competition on its consumer market.

The potential for you to attract more customers through effective marketing and advertising campaigns both on a local and national level will ensure your success against the competition of independent start-up businesses.

4. Sustain Efficient Service One thing is true when you franchise your business, the continual recognition of anyone brand your franchise will offer. All of your franchisees will be implementing the same business model functions. They will ensure the highest quality of service and product despite, where each business is located, this will generate and maintain loyal customers. Customers will receive the same “quality of service” has settled down by you as the franchisor in any franchise outlet that the customer decides to visit.

5. Regional Knowledge As an independent business owner, you may want to expand the business in many different locations. But researching a particular location can be expensive and time-consuming. However, expansion through franchising and potential franchisees eliminates, the need for research as the potential franchisee will bring to the table. A wealth of information that will be valuable for the

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business network expands the objectives. You can tap into local business knowledge which you may otherwise have been unable to attain.

6. Group Buying As a franchisor of an established franchise network, you will be able to take advantage, as well as your franchisees, of centralized buying power from suppliers and manufacturers. An independent business owner would find it more difficult to buy in bulk and budget constraints would hamper their buying power. As a result of this, your franchisees will be able to offer services or products at a much lower price, once again beating the competition hand down!

7. Enthusiastic Distribution As a manufacturer or service provider, establishing the sales function of your business as a franchise operation provides you with a distribution network that is entirely focused on the supply of your product or service to your customers.

8. A dilemma shared is a challenge halved!

If you choose to franchise your business, then you will transfer the responsibility onto your franchisees. This reduces the stress or problems you may acquire as a company owner or a chain of independent business outlets, where you have to take care of complete management. In franchising, the franchisee will act as your manager and will work to the best of his/her abilities since it is a vested interest for them to do well. As a franchisor, you can set out in your operations manual a section dedicated to management structures and guidelines and benefit all franchisees are involved.

9. Promoting As your network develops all of your franchisees will benefit from group advertising campaigns initiated by you, at a national and local level. Creating effective communication links between all franchisees- regular coffee lunches (telecommuting if possible), annual meetings and conferences, etc- will aid feelings of “community� amongst the franchise network and in turn fuel customer referrals from one franchise operation to the next.

10. Viability

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While you choose to franchise your business the first thing you will notice is to an increased return of your investment. A franchisor’s profits are generated on much lower capital investment, and although the revenue received from the franchised units is less than that from independently owned business outlets, a higher percentage of that revenue is profit.

As you can see franchising can be an effective and highly worthwhile way to expand your business. As a prospective franchisor, you must be aware that not all business people are cut out for franchise expansion. It will take hard work, perseverance, time and money to develop the franchise network and you have to be prepared for this.

However, with so much guidance and help available from relevant franchise associations and organizations; franchise portals and franchise business, financial and legal consultants, you will make the transition from a business owned to franchise network successfully.

Conclusion These days businesses are growing huge with the franchise. More the number of vents more will be the evolution of the business. Making your brand precious can be as grim as inaugural a

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business from scratch. So, what can make it reasonable? The launching company-owned outlets, so franchising is a simple option and the swiftest technique for expansion. Taking the franchising course is the finest way for brand building.

Though franchise squeezes less risk, there are certain pivotal elements which should be deemed carefully for the productive franchise. Making money from a franchise system is expressively divergent from doing so with other sorts of business. Every single business is advantageous that you put energies in to, however, franchise business needs less of the work than initiating from scratch, so it has some favorable points by now.

At Frantastic, we help our clients with ample of opportunities in the world of franchising across sectors and industries to unlock their growth potential by evading or minimizing franchising challenges & risk and making it first time right. We are a one-stop solution for all the business is driven people who want to begin their career with the franchise business model.

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