MAY 2021
10
The
Most
Business Business on the Edge Top Edge Computing Trends in 2021
Leadership Shifting Paradigms Benefits of the Gig Economy for Entrepreneurs
Fr an ch is es
to watch in 2021
SUCCESSFUL
Tips Budgeted Growth 5 Strategies to Grow on a Budget
Technology Salient Franchising 6 Ways of Leveraging Modern Technologies to Create Formidable Franchises
Nick Lopez Founder
LIME PAINTING A Franchising Legend
CREDITS
- Publisher Mr. Rajesh Kendale
Editor Dr. Sonal Burghate
Co-Editors Amreen Bawa Suparna Dey
- Senior Editor Zelen Silva
Designer Harsh L.
Art & Design Director Ankit kulkarni
- Picture Editor Manawa Deshmukh
- Visualizers Nilesh, Sachin Akshay, David
- Art Editor Ajinkya Pandit
- Marketing Manager Om Naik
BDE Jessica Edwards, Neha Jain & Veronica Castellino
- Database & Research Analyst Parth
- Technology Consultant Pratik Dande
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- BDM Rohn Jamson
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EDITORIAL
Invincible Franchises Weaving a Successful Franchise Chain
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uilding the foundations of a strong and stable franchise network is a difficult task that only a few brilliantly gifted entrepreneurs can master. An astute sense of planning and foresight is needed to effectively curate a strong franchise system that can weather the cyclical occurrences of the business landscape. Hand-crafting the franchise network to reflect one's vision is the most arduous task that needs to be mastered for success. In this edition, we, The Leaders Globe Media, cover 'Successful Franchises' that have disrupted the franchise industry in the contemporary era. These ventures are led by magnanimous leaders who have relentlessly strived to bring their visions of successful franchise models to fruition. Under their ingenious leadership, the franchises covered in this issue, have secured ace positions within the market arena. Consequentially, the reputation and legacy of these franchise chains have created a lasting impression in the industrial realm. A formidable foundational base is essential and indispensable when creating a successful franchise chain. The expansion, growth, and efficacy of the brand will inevitably hinge on the strength of this core requirement. Franchisees will be willing to invest in a franchise structure that ensures efficiency. The list of perceptive franchises covered in this issue has secured this feat of success. Franchising is pivoted around the ability of the entrepreneur to curate a distinctive brand identity. The model itself will flourish only when a significant brand recall value is added to the parent company. Consistently branding your franchise model is a seminal part of forging a memorable legacy for the brand. Similarly, team building is a vital part of the franchising process. Mentoring, advising, and effectively communicating with the expansive franchise network are deemed essential for the success of the system. The franchise companies covered in our current issue have simplified the process of navigating the maze of the franchising industry. They have secured a niche and definitive placement in the franchising world by focusing on the importance of developing a harmonious, cordial, and reciprocal relationship with their franchisees. The passion that they live and breathe has been amicably shared with their partners in the system. This has helped infuse a renewed sense of enthusiasm in the overarching operative chain of the franchise as well as aided in bringing the avowed visions to fruition - Suparna Dey
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Cover Story
CREDITS
08 A Franchising Legend
Articles 18
Business
Leadership
Shifting Paradigms Benefits of the Gig Economy for Entrepreneurs
Business on the Edge Top Edge Computing Trends in 2021
Tips Budgeted Growth 5 Strategies to Grow on a Budget
www.theleadersglobe.com
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Technology
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40
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Salient Franchising 6 Ways of Leveraging Modern Technologies to Create Formidable Franchises
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3% REALITY Ushering the Dawn of Realty Franchising
ENTERTAINMENT SPORTZ
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Reshu ing the World of Event Franchising
FIRST CHOICE BUSINESS BROKERS
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Ushering the Dawn of Realty Franchising
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FRANNY'S FARMACY The Pioneering CBD Franchise
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Leader’s Perspective
Investment Styles and Strategies of Fund Managers Manju Mastakar, Managing Director Armstrong Capital & Financial Services Pvt. Ltd.
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A Franchising Legend www.theleadersglobe.com
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I love what I do because LIME provides jobs for the families who are a part of the LIME team. We deliver a quality service in an industry that doesn't always fit that type, and that is important to me
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COVER STORY 9
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he past decade has witnessed a revolutionary rise in the various franchises across the world. The franchise industry has fanned out its wings to cover all corners of the globe. The untainted growth of this industry has been accorded to the minimized risks involved in initiating a franchise operation. As a tried and tested product or service is less likely to fail, entrepreneurs feel more secure when investing in such ventures. Moreover, the technical training that is promised by the parent firm when joining a franchise. One gets to learn and perfect an already tried and tested methodology of operation. The connections and links that are forged by the
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parent firm help others in the franchise to master the art of sales and marketing like never before. Additionally, the holistic support provided by the franchiser to the franchisee is unmatched. All these factors have contributed to the meteoric rise of franchises around the world in various industrial contexts. The arena of painting has not remained immune from such developments. The beauty of an edifice is defined not solely by its whimsical structure or frame. The true aura of a structure is revealed by the beauty of its hues. Paints play an important role in maintaining as well as augmenting the aesthetic value of any edifice, whether it is a home or an office space. LIME
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The Franchise Builder LIME is a custom coatings and contracting service provider based in Colorado. LIME Painting has flourished into the first and only national high-end painting company under the guidance of Nick Lopez. As the CFE and Founder of LIME, Nick leverages his astute knowledge in the field of marketing to propel the franchise to novel feats of success. With a Bachelor of Science degree in Marketing and Sales from the Michigan State University, Nick has worked diligently over the bygone years to curate an illustrious career. Nick founded his first painting LLC at the age of 19, whereby he engaged in painting homes all summer to pay for his tuition, books, and the overall cost of living. It was during this phase in his life that Nick developed a true passion for the craft and began to gravitate towards it. It was at this juncture that he realized his dream of creating a painting company in the industry that disrupted the established status quo in the market. After completing his graduation, he and his would-be wife moved back to Colorado and Nick laid the foundation for LIME Painting.
Painting is one such franchise firm that handles everything from a standard repainting job to a brand new painting venture. LIME Painting is an unrivaled residential and commercial painting company that specializes in the best products and services offered by the industry to ensure brilliantly engineered, custom results and lasting impressions. With LIME Painting, you will fall in love with your property once again. Some of the most ingenious and brilliant craftsmen are part of the LIME team. The combined efforts of the trusted advisors and such experts help LIME deliver upon its promise of excellence.
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Nick has successfully dispensed multiple roles in the industry. He has helmed the position of the President at the LIME Light Outreach Inc. He has been appointed as a member of the Board of Directors at both the Better Business Bureau as well as the Colorado Uplift. Today, Nick leads a successful LIME franchise line that is making a difference with its excellent and quality services around the country. A Holistic Approach to Franchising Nick enjoys the outdoors of Colorado. He often takes a break from work by going fishing or hiking in the Rocky Mountains. As a home and workoriented individual, whenever Nick is not spending quality time with his family, he is investing valuable time franchising and helping other markets across the country deliver best-in-class services to their clients.
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The Underlying Meaning of the Venture The name of the company itself spells out the avowed canons of the venture. 'L' stands for love. LIME is based on the foundational belief of valuing people. As a people's business, LIME makes building and nurturing lasting relationships a top priority. 'I' stands for integrity. LIME believes in upholding the need to make a difference in the world. It shoulders the moral responsibility of leaving an indelibly positive mark on the community. 'M' is representative of the relentless mission of the firm. LIME's role within the community extends beyond business. LIME subscribes to BAM (Business as Mission). The firm embodies the role of serving its employees, customers, and the community. And lastly, LIME imbibes and executes the ideal of delivering excellence as a professional service provider. The standard for customer service is customer excellence for LIME.
Distinctive Services Offered LIME offers a plethora of services to its diversified clientele. Apart from the services listed below, LIME also provides a host of other offerings including masonry, carpeting, drywall, gutter replacement, and many more. Painting: Bid adieu to all your painting woes with LIME. The residential services offered by LIME include both interior and exterior painting. By emphasizing on a meticulous prepping process, the team at LIME ensures that your home retains its beauty over a long period of time. Stucco/Dryvit Specialist: From the initial period of
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Canonical Virtues of the Franchise The LIME franchise has been built around the virtues of love, integrity, mission, and excellence. The brand endeavors to deliver upon its promise of brilliance. As a modern franchise brand, LIME has mastered the art of leveraging novel technical knowledge to deliver best-in-class services to its clients. With several talented and experienced inhouse carpenters, masons, gutter specialists, and drywall installers, LIME has curated a niche space for itself in the competitive marketplace. LIME provides both expert advice on what products should be used based on the scope of work, as well as talented craftsmen to successfully finish the project.
Our company is a unique solution to that need and a lot of the time clients are thoroughly surprised at what we can do. That obligation to our clients excites me and encourages me to work that much harder!
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The personnel working at the venture, the industryleading customer service, quality controls, an emphasis on talented and well-trained craftsmen, and high performance-oriented products make the LIME Painting business model one of the best in the market. Over the years, LIME has grown to become of the most renowned and trusted luxury painting companies. The myriad customer testimonials are proof of the excellent services offered by the franchise.
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Nick Lopez Founder LIME Painting
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installation to the rest of its life, there are varying levels of maintenance and restoration required in the upkeep of stucco, EIF's, and Dryvit stucco substrates. From new construction, to repaints and restoration needs, LIME provides industry-leading stucco services for these substrates. Doorway Magicians: Doorways are entrances into the heart and home of an individual. The doorway design you choose says a lot about the ambience of your home. LIME specializes in custom applications for entry doors. Whether your door is fiberglass or natural wood, LIME helps transform it from a weathered and worn state, to nearly a flawless and beautiful one. Kitchen Cabinets: Creating picturesque kitchen layouts is no longer an untenable dream. With LIME, it is more than just plausible. LIME has the expertise to strip painted cabinets and apply stain, or can paint your stained cabinets in a variety of different finishes, such as glazed, distressed or faux
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An EPA Lead-Certified Franchise Lead-based paints can be serious injurious to the health of individuals. As a EPA Lead-Certified brand for the safe handling, removal and disposal of the toxic chemical, LIME offers its customers the added assurance of creating a safe and toxinfree home. LIME also helps customers test for lead in their home and office paints and ensures astute guidance and assistance in the event of a positive test result by highlighting the steps needed to minimize exposure. textures. The team at LIME instrumentalized their pragmatic expertise to help the client achieve a modern design without exceeding expenses. Epoxy Coating: LIME is always an advocate of the highest performing products and that rule of thumb holds true with epoxy application. LIME specializes in epoxy coatings and is exceptionally talented at transforming a garage floor. This is primarily why LIME highly recommends the ArmorSeal 100 HS Epoxy coating system. The application is best in class for performance and is aesthetically very pleasing. The Commercial Painting Genie The team at LIME Painting is acquainted with the multi-tiered challenges of commercial painting ventures. LIME ensures that the client's project runs smoothly so that the business can operate as usual while they strive to transform the space. The experts at LIME have ideated a process that strikes the perfect balance between quality, time, and cost. By mobilizing highly skilled, uniformed teams, LIME is able to meet the client's turnaround time in a quality-controlled environment.
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A Social Message LIME is a franchise brand with a social enterprise in LIME Light Outreach, Inc. that gives franchisees a platform to give back to their local community's youth through LIME Light's Four Pillars of Knowledge: Faith, Family, Patriotism, and Prosperity. As an organization wanting to do more than just provide a service for profits, LIME Painting, LLC extended its core values for L.I.M.E. (Love, Integrity, Mission, Excellence) beyond just a concept and put these values into action by incorporating LIME Light Outreach, Inc. LIME Light Outreach, Inc. was founded with the goal of empowering local youth with the four pillars of knowledge. Making Franchising Easy LIME Painting makes embracing the franchise model of business as smooth as ever. Collaborating with the parent company is as easy as filling in a form on its website with all the required details. The unmatched growth of LIME Painting has attracted a large number of franchisees from all over the country who are making their dreams of business ownership a reality
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Business on the Edge:
Top Edge Computing Trends in 2021
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he edge computing architecture is set to bring about some formidable changes in the world of business. The various emerging functional applications of this technologically astute system will offer some real and notable operational advantages to the firms. The ongoing pandemic has acted as a catalyst in accelerating the implementation of edge-driven investments and business models across the industry. This tech trend emerged as the most formidable force in the course of the by-gone year. It is expected to continue holding the ace position in the market amidst the multitude of digital transformations. Estimates suggest that this edge computing wave will further intensify in the upcoming months of this year. 2021 will witness further investments, diversifications, and growth in the world of edge computing. Some of the areas that are poised for such growth have been listed below:
Mixing Edge Computing with AI and ML Amalgamating edge computing with the rising AI and ML trends will revolutionize the market landscape
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BUSINESS
even further. Incorporating Machine Learning into edge-driven solutions will enable faster decisionmaking by streamlining processes and data management. Moreover, experts have predicted that this integration will fuel the drive towards enhanced, real-time personalization. Digital security will also benefit from such collaborations as firewalls become stronger than ever.
Curating an Edged Cloud The intensifying connections and collaborations between edge computing and cloud providers upholds a conspicuous promise for the industry. Industry experts have predicted that within a matter of merely 3 years the agility of all business models is set to attain unmatched heights, through the incorporation of edge data with applications built on the cloud platforms. The IT portfolio is simultaneously diversifying as companies leverage devices and computing solutions that are closer to the end-customer. In such a scenario, edge computing will help provide a certain needed urgency to the operation, while the cloud will facilitate big data computing.
Revolutionizing Retail Edge computing will transform the world of retail in an unforeseen manner. It will function as the process disrupter in the retail domain. Processes of stocking, inventory assessment, ordering, etc. will be changed by the incorporation of edge computing. All these operative processes will be made instantaneous with the integration of edgedriven protocols. While the virtual retail empire can continue to reap the benefits of this system, the physical retailing world can only hope to survive the wave of e-commerce platforms by amalgamating these edge principles.
Leveraging Scalability Offered by Edge Computing Firms can leverage edge computing's scalability features to swiftly expand to other business portfolios without the worry of incurring mammoth infrastructural expenses. Edge computing makes it easier for enterprises to participate in the connected ecosystem with minimized network latency and bandwidth issues.
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Thus, it helps firms embrace the fast-growing and more profitable segments of the market.
Evolving into a Holistic Market Edge computing is expected to evolve into a matured marketplace in the duration of the upcoming months and years. The formidable offerings and opportunities associated with edge computing are set to enhance the demand for it. The very need to deliver application and data resources to edge locations will increase the need for edge hosting services. Thus, the future will be one colored in the hues of companies who have invested in edge computing rather than the ones dependent on the traditional, centralized data centers.
5G and Edge Computing Edge computing is expected to accelerate the adoption of next generation technological tools like AR/VR, IoT, autonomous vehicles, etc. Many recent partnerships between the stalwarts of these technologies and edge computing firms suggest the significance of the latter. The combined revolutionary pull of 5G tech, IoT, and edge computing is set to leave an indelible mark on the industry. The implementation of 5G will help reduce latency for computing at the edge. 5G is also set to offer a way to connect edge devices, especially in the consumer realm. The world of edge computing will mark the dawn of a new age in the business realm according to most expert predictions. As data center growth expands in the edge, the impact of this radical and novel technical feat will be dearly felt by all stakeholders in the market. As predicted, by 2024, almost 5 million servers will be deployed at the edge. The allure of a decentralized form of computing has captivated millions already as they embrace this ingenious and unparalleled system. The most prudent strategy for firms will be to stay ahead of the curve and embrace the brilliance of the various edge-driven tools to maximize their operational potentials at lower costs
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Ushering the Dawn of Realty Franchising
Our clients need be able to trust our REALTORs completely in every step of the transaction
Roy Almog Founder and CEO
T
he real estate sector has witnessed steady growth in the course of the by-gone years. Several franchise chains have emerged during this period to exploit the boons of this successful industry. 3% Realty. is one of the most formidably successful names in the real estate franchise market today. This franchise network is dedicated to providing customers with holistic real estate services and solutions that make the buying and selling of real estate as streamlined and efficient as possible. The team at 3% Realty is committed to ensuring that the entire process is smooth and efficient to help clients attain maximum returns on their investments.
in the arenas of buying, renovating, and renting properties. He soon realized the gap in the market for a Full-Service Real Estate Brokerage firm, offering MLS exposure without higher priced REALTOR commissions. This became the seed that has now flourished into his real estate franchise dream. Today, he has successfully transformed his visionary thinking into a tangible real estate franchise empire. He founded 2% Realty in 2007 as a Full-Service real estate brand that now franchises throughout Canada, and New Zealand. The franchise was created as a hub of excellent realty service provision, against a minimal commission of 2%. In 2009, Roy established the foundations of 3% Realty as an extension of the existing franchising empire.
The Franchise Curator The franchise network is guided on its relentless journey of growth and expansion by the pioneering vision of its CEO and Founder, Mr. Roy Almog. Roy leverages his extensive experience in the field of telecommunications and real estate to guide the firm on its quest for unencumbered growth. While Roy was working fulltime in the telecommunication sector, he frequently dabbled
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Expanding as 3% Realty Beginning with only a single location in Canada, the franchise empire now spans over 50 locations around Canada, the US, and New Zealand. After being hailed as Canada's largest lower commission and full service real estate brand, Roy expanded into the US market as 3% Realty. At 3% Realty, the brand offers consumers 100% real estate agent
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services, and 100% REALTOR.com exposure at a fair and reasonable rate of commission. It charges a flat 3% of the selling price of the property. The 3% Realty franchise network is rapidly growing throughout the US.
Building Trust-Worthy Partnerships Trust and transparency are the canonical tenets for the franchise. 3% Realty shoulders a formidable responsibility in terms of providing a significantly valuable asset management service for its clients. Thus, in the absence of trust, the property transactions handled by the firm would be impossible. Roy asserts, “We often deal with our client's single largest dollar transaction when helping them sell or buy a home. Our clients need to be able to trust our REALTORs completely in every step of the transaction. Our REALTORs are well trained and equipped to instill confidence in them, and earn our Client's trust.”
Remaining a Step Ahead The real estate market is constantly embracing new winds of change. Perpetual modifications and alterations are core elements that define the dynamic nature of the real estate market. Most contemporary clients are well-versed in the nuanced nature of the buying and selling process. They wish to be involved in every facet of the transaction. Yet, they still require expert assistance and guidance. To help facilitate and fulfill these novel requirements, 3% Realty has certain plans in place. Roy asserts, “Our big focus to ensure we stay relevant in the next 10+ years, will be on our REALTORs. Our REALTORs are well trained, operate in a paperless manner, and are well equipped to keep up with the fast-changing landscape of the Real Estate Market. We want to ensure that we are always ahead of the curve with any new trend we see come to market.”
A Team-Oriented Approach The work culture at 3% Realty is marked by a diligent sense of teamwork and collaboration. Roy propounds, “I have a tight-knit group that's always ready to pivot if and when we need. The group is often involved, but to a slight degree, in our other department's projects and tasks, so that each team
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Our REALTORs are well trained, operate in a paperless manner, and are well equipped to keep up with the fast-changing landscape of the Real Estate Market
member can step in to help if needed in another department.”
Curating a Supportive Franchise Network Building a strong and stable franchise network is quite a daunting endeavor. However, Roy outlines the secret to his successful franchise empire. According to him, support and collaboration are the key to the growth of a franchise chain. 3% Realty has set a pioneering example in this arena by procuring all requisite resources and tools needed by their franchisees to earn the trust of the clients.
Embracing Changes The ongoing pandemic has not altered the business conducted by the franchise, however, it has definitively changed the way the operations of the franchise network are conducted. Swift adaptation was the key to continue operations under the new operative protocols. As Roy mentioned, “We quickly adopted the technology that's currently out there for Virtual Tours of homes, we offer property listing valuations over FaceTime or ZOOM, and get signatures electronically whenever possible.”
Navigating the Future 3% Realty has witnessed formidable growth over the course of time. In some cases, the growth has been profoundly equivalent to 440% YOY. This has further propelled the firm to successfully expand its franchise network to new locations. Roy now plans to further strengthen and enhance the position of the franchise network in its existing markets, while simultaneously fuelling the engine for further expansion into new territories and markets
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SHIFTING
Paradigms
Benefits of the Gig Economy for
Entrepreneurs
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he rise of the gig economy in the contemporary period has transformed the entrepreneurial world in unpredictable ways. The culture of work is shifting in favor of the newly emerging trends associated with the fourth technological revolution. A certain degree of flexibility has become the preliminary element of employment opportunities in the present context. The convenience and multifaceted nature of the gig economy have propelled its expansion and widespread acceptance. The gig economy is also changing the way entrepreneurs create jobs and hire workers. In the modern context, gig economies help connect firms to specialists who help them at specific junctures of the business process.
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LEADERSHIP
The reach of the gig economy is no longer circumscribed to the service and hospitality industries, but its rippling waves of transformation are acutely being felt across the business sector. Writers, graphic designers, web developers, accountants, and many more roles have come to be a part of the novel and ever-evolving gig economy. This development presents its own set of boons for entrepreneurs as they can now make their hiring and scaling decisions by capitalizing on the benefits of the gig economy.
Altering Recruitment Norms The most conspicuous change in the standard entrepreneurship protocols can be noted in terms of the norms related to the hiring of personnel and the creation of jobs. Entrepreneurs have to now look at non-traditional spaces for employment. This also challenges the idea that an individual firm can exclusively hire full or part-time workers. Thus, now entrepreneurs have to be able to craft conducive job descriptions for freelancers. These vacancies have to be advertised on the new platforms –like Upwork- created specifically for the gig economy. Entrepreneurs must be able to tap into the ingenious freelancer networks that help make a firm capitalize on the abundance of talent in the gig economy. The stride of the contemporary marketplace can be described as a harmonious concoction between a set of core employees and a group of innovative freelancers.
Lucrative Up-Scaling Entrepreneurs have embraced the gig economy as it allows them to grow and evolve start-ups on a budget. A recent survey suggests that around 70% of companies around the world are opting to hire freelancers as contractual employees rather than investing in permanent employees. This helps entrepreneurs save recruitment costs as well as the costs involved in covering the employee's benefits. The impact of such a development on the workforce is highly debatable, however, the benefit of the same for the firm is quite conspicuous. This allows entrepreneurs to save enough capital that can be used to scale their ventures. Again to attain this objective they rely on the work and astute talent of the gig economy workers. It also helps
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them avoid the financial risk of employing a larger full-time staff as well as the risks of future retrenchments.
Undertaking Special Projects The outlook of entrepreneurs towards specialized projects has also undergone a significant change in the context of the evolving gig economy. The gig economy helps an entrepreneur hire specialists and experts for new areas that the firm does not specialize in. For instance, an entrepreneur can hire a freelance expert translator from the gig economy to fulfill the demand of a client who requires marketing material in a language that is not known by the team at the firm. As soon as the project is completed, the entrepreneur can pay the freelancer and part ways until his or her services are needed again. Similarly, entrepreneurs can also turn to the gig economy for short-term technical projects. They can procure expertise from this talent pool for short periods of time, thereby remaining on a strict budget. They can use this as a way to test the waters in new business arenas without risking serious financial losses. In the larger scheme of business agendas, such a perspective helps expand the influence of the brand into hitherto unconquered arenas. The advent and expansion of the gig economy have brought about unforeseen changes in the domain of the market as well as the employment landscape. Some of these changes have been beneficial for both the entrepreneurs and workers, while others have affected the security of employment that was a guarantee of the by-gone era. However, at the same time, it has also made work more flexible and liberating in most cases. Workers can now choose between the most innovative and interesting projects instead of simply adhering to the monotony of a single job. Whatever be the pros and cons of the gig economy, one thing remains certain that it is here to stay and entrepreneurs will inevitably have to embrace the protocols of this approach to ensure their growth and success
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Reshuffling the World of Event Franchising
Rajan Patel Karan Rughani
CFO & Director
Founder and CEO
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apitalizing on franchise opportunities in the event management industry is quite an arduous task. Only a few gifted leaders can craft such ventures to perfection. Entertainment Sportz Pvt Ltd. is one such ideal franchise chain. ESPL is committed to the ideals of bringing their client's visions and dreams to successful fruition. Established in 2010, the Ankleshwar-based firm is dedicated to helping clients create, design, develop and manage events. It covers all the nitty-gritty of hosting successful events, starting from simply offering ideas and guidance, to comprehensive event planning and management. The team is now set on the path of transforming the dreams of the venture into reality. After championing yet another milestone in the course of its illustrious history, the venture now exemplifies a successful franchise-based business model.
The Ingenious Creator The company is guided on its quest for unrivaled growth and success by the astute leadership skills of its Founder and CEO, Karan Rughani. He helms
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I feel great joy that I am able to expand my team while keeping intact my sense of community, not only between the customers but also among suppliers, vendors and managers - Karan Rughani
the responsibility of leading India's fastestgrowing, reliable, and creative event management team. After completing a B.Com Degree in commerce from the Thakur College of Science and Commerce, Mumbai, Karan earned a Diploma in International Event Management from the reputed National Institute of Event Management, Mumbai. His drive to celebrate his passions of creative planning and project management led him to ideate ESPL. A brilliantly astute and alert leader recognizes the most conducive time to undertake expansion. Karan has exemplified this role. He realized that the firm's core business has reached the sky of its market and that it was time to stretch the horizons of success further. Moreover, such an endeavor opens doors to unmatched scales of opportunities in the form of access to new ideas, new strategies, new technology, new processes, and new people.
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Pioneering Evolutionary Growth Karan aptly encapsulates the legacy of the firm by highlighting the importance of the value created and contributed by the firm's unwavering team of experts. 'Reminiscing the good old days, when 'team' meant a duo of 2 motivated individuals, determined to create something big, something of value. Every day since then our company has grown, we've managed to add feathers of countless achievements and accomplishments to our hat, especially in the past couple of years' asserts Karan.
Our model is very simple- good work needs to be acknowledged, appreciated and rewarded. We have made sure to keep this mantra alive and active while moving forward - Karan Rughani
Stepping into the World of Franchising Curating a formidable franchising empire is not a task for the faint-hearted. It takes courage, diligence, hard work, and determination. ESPL aims to focus on a streamlined strategy for the evolution of the brand. As Karan asserts, 'We are now breaking out of old habits and learning new things each day to find a new passion. Our plan of expansion geographically does provide us with an opportunity to explore new cultures, rituals, languages, and diversity. We plan to cover Gujarat, Rajasthan, and Maharashtra in our first phase of expansion and then further covering the different regions of Incredible India.'
Meeting the Master Franchisee Franchising ESPL was a magnanimous leap of faith. However, it has been a fruitful decision as this endeavor has infused new expertise into the business model of the firm. Mr. Rajan Patel has joined the team in the role of the master franchise owner. Rajan is currently the President of the selffinance school association of Bharuch and Vice President of the self-finance school association of
Gujarat. He is also a reputed builder-developer in Ankleshwar, Bharuch, and owns a successful digital marketing and advertising firm. The collaboration with such a brilliant entrepreneur will inevitably be fruitful for the firm, He has entered into an 8-year Master Franchise contract with ESPL and currently holds an 11% stake in the operation. Rajan as the master franchisee aims to get 6-unit franchisees up and running during the first year of operation. He further added, 'We're looking out for raw talents, motivated individuals, and skilled managers to substantiate our plan.' The plan will commence by initially targeting tier 2 and tier 3 cities. Commenting on the congenial nature of the collaboration Rajan posits, 'Karan has been an amazing business partner so far and I see this partnership is going to put us as a trusted, credible, and one of the most sought-after event management companies PAN India.'
Curating a Digital Strategy for Branding The ESPL franchising team is instrumentalizing a result-oriented strategy to focus on building and boosting its brand presence. To fulfill this core objective, Sugandha Rohatgi has been welcomed on board as a brand relation manager- to align and reorganize its strategies before it expands. Sugandha rightly asserts the need for extra efforts on the part of the brand makers to help render their brands more holistic by focusing on their relational, expressive, and social meanings.
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Sugandha posits, ‘As a brand relationship manager, I believe human experience optimization is a better way to win over customers and thrive together.’ The digital strategy ideated by ESPL under Sugandha's guidance will amplify the relational processes fortifying co-creation as a result of dynamic and social interactions, content creation, and collaborations.
Mapping the Future The team at ESPL has used the lockdown period to structure, dissect, and optimize each step of the implementation process. They are now concentrating on training, automation, customer relationship management, content management, lead generation, etc. in a much more focused manner. In the near future, ESPL aims to exemplify growth. The team wants to collaborate and acquire. The ESPL chain wants to soon make its presence felt in the markets of Surat, Vadodara, Rajkot, Goa, Pune, Pushkar, Jodhpur, Udaipur, Jaipur, Delhi, and Bangalore
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Sugandha Rohatgi Brand Relationship Manager
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INVESTMENT Styles and Strategies of
Fund Managers
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cross two decades of my advisory career, I have come across a common question – This fund is not performing then why are you not taking an action? As advisors I meet a lot of fund managers in person, understand their investment strategy and then decide what to recommend to whom, and which fund will perform in a particular market scenario. There are various investment strategies and investment styles of fund managers and not all funds will deliver the same return in a particular time interval. Some may deliver good returns in the first six months of investment and some may deliver after 18months. What differentiates one fund manager from another is explained below. Growth strategy – In this strategy the fund manager looks for companies that can have another 10 years of consistent growth in Sales and Earnings, these stocks are always quoted at a higher valuation they are not always the top 50 stocks, but the fund manager generally picks up stocks from the list of top 150 stocks. We generally suggest investing in these funds when we are in a recessionary trend or we have experienced a phenomenal bull run. It is not that these stocks will not fall in a falling market it just that they recover faster due to their robust business model. Momentum strategy – In this strategy the fund manager invests in stocks based on recent price rise or speculation of price rise. The fund manager takes short term calls and generally trades stocks, the average holding period of the stocks can be anywhere between 3 months to 6 months. These funds can be identified based upon their turnover ratio. Generally, these funds are seen as the best performer in of bull run and the worst performer in bear run. During a particular phase of bull run they show a very high return and that's where investors
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get trapped. SIP's are the best option for momentum kind of funds and investor need to keep patience and do profit booking when there is exceptionally high XIRR returns. Value strategy – In this strategy the fund manager looks for stocks that are quoting below their intrinsic value. A stock may quote at a low value due to various reasons like low demand, change of management, earnings downgrade, and many more. The loss in the value of business may be in single digit but the stock price fall may be in the range of 30-40%. The fund manager looks for these kinds of opportunities, and they are also called contra funds. A true to label value/ contra fund has an exceptionally low correlation to the indexes. These funds do not move in tandem with the benchmark – so investors investing in these funds seldom have this concern that Nifty has gone up but this fund is not performing. The value unlocking will take its own time, and this makes the movement of the fund very erratic. Generally, these funds perform at the fag end of a bull run when quality stocks are already overvalued, then the money flows to value stocks. Overlap the benchmark – Since a fund manager's performance is constantly compared with the benchmark they prefer to have 20-30% common stocks of the benchmark, a higher overlap is seen in funds with very high AUM (assets under management). There are some funds that have a very low overlap with the benchmark those fund managers like to experiment or take a risk and generate alpha. Lower overlap denotes innovation and at the same time preparedness to take the risk of non-performance over a time interval. These fund managers are generally working from very small AMC (Asset management companies) where the team size is smaller and investment process is not
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LEADER’S PERSPECTIVE
Manju Mastakar
Managing Director
Armstrong Capital & Financial Services Pvt. Ltd.
very stringent. We generally suggest higher overlap funds for new investors and a lower overlap fund for experienced investors. Concentrated portfolios vs long tail portfolio – Some fund managers build a concentrated portfolio with top 10 stocks amounting to 50% of the portfolio, they believe in investing in high conviction ideas. On the other side, there are fund managers who have a long tail portfolio they will have 25-30% of their bottom portfolio spread across 40-50 stocks and the stocks in their portfolio range between 60-80 companies. These fund managers follow a strategy to track an exceptionally large base and add to only those stocks that start showing performance. A concentrated portfolio strategy can be beneficial in a flat market very only a few stocks or segments are moving, and long tail portfolio is beneficial in a broad-based rally. The overall return of a perfectly managed long tail portfolio exceeds investors' expectations.
About the Author Manju Mastakar The author is Managing Director of Armstrong Capital & Financial Services Pvt. Ltd. and she has over two decades of experience in Investment planning. Armstrong Capital offers comprehensive Investment Solutions for Individuals for more details visit www.armstrong-cap.com
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The Brokerage Franchising Trailblazer
I help my team achieve their goals and in doing so, I am able to achieve mine and become a better leader
Roy Almog Founder and CEO Jeffrey Nyman
- Jef frey Nyman
Co-Founder, CEO, and CFO
Boutique Brokers. And noted that FCBB was a top choice for those interested in confidential selling.
T
he business brokerage market is quite different from the housing market. People need business brokers who are skilled and experienced to lead them through the maze of buying or selling a business. First Choice Business Brokers (FCBB) is the best option available to any potential business seller or interested buyer. Based in Las Vegas, Nevada, the firm specializes in buying and selling businesses across the United States. As a franchise-based business FCBB has agents across the country who are actively engaged in seeking businesses that are for sale and matching those owners with potential buyers. FCBB is a member of the Institute of Business Appraisers, the International Business Brokers Association, and the Las Vegas Chamber of Commerce, and the International Franchise Association. In 2016, Inc.com listed FCBB as one of the top Three
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FCBB has been featured twice on Entrepreneur's Annual Franchise 500 List as a top Brokerage brand and as a low-cost investment option. The chain has listed and managed the sales of more than $7.5 billion in businesses for sale. With successful franchises operating across the US, the franchise chain now aims to expand into the international market.
Founders of the Firm First Choice Business Brokers was established by Jeff Nyman and Linda Hentges-Nyman. In 1994, FCBB started as a small two-person business brokerage office in Nevada. Over the years, the firm has developed into the largest Business Sales Organization in Nevada. Jeff is the CEO and COO of the firm, while Linda specializes in franchise
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support. Jeff hails from a background in Accounting, Finance, Life insurance, Banking, and Executive search. He is the CoFounder and President of the Nevada Business Brokers Association. Jeff has also assisted in writing the NV State Test for the Business Broker Permit. FCBB entered the franchise market in 2006. The aim was to spread the knowledge and expertise of the firm and create a lasting legacy.
Competitive Advantage FCBB's services are superior from the rest of the competition. FCBB agents go beyond simply matching interested buyers with the listed business sellers. They ensure that the business listed for sale is carefully evaluated and priced. They help clients negotiate an appropriate value and favorable terms for their listings. The expert team of professionals at FCBB offers clients sound transactional guidance by understanding their specific needs and demands. FCBB agents work relentlessly to get the best value for a listed business. They market the listings through social media channels, email campaigns, telemarketing, investor forums direct mail, and business to business marketing. This helps increase the reach of the listings and ensures the highest return for the seller and best value for the buyer.
First Choice prides itself on our down to earth strategic integrated approach to the sale of businesses and the results it delivers - Jef frey Nyman
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Linda Hentges-Nyman Co-Founder
Services Offered With FCBB, clients can have access to the best listings for sale across the country. On the other h a n d , a s a s e l l e r, t h e c l i e n t i s e n s u r e d individualized attention in his local market. FCBB agents will take the lead at each step of the buying and selling process. From the valuation of a listing to negotiating a contract, FCBB agents are always taking the lead. Apart from offering business custom searches and transactional guidance for clients, FCBB also offers the following services: Ÿ Business Sales: Confidentiality is key for business brokerage services FCBB offers confidential business listing services for clients who wish to sell. Brokers at the firm are experts in the fields of business evaluation, business sales, and business marketing. They help secure the highest value for the client's listing.
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Buying a Business: By simply signing up for a new listings alert, potential buyers can know when a new business is available for purchase. Potential buyers can choose a business of their liking by modifying search parameters on the FCBB portal. Ÿ Business Valuation: FCBB's proven methods of valuing and marketing will put the seller's business in the best possible position to sell. Ÿ Merger and Acquisition Services: FCBB's M & A Advisors bring robust experience and knowledge to a highly underserved market of lower middle market business owners.
Ÿ
Becoming an FCBB Franchisee After the initial vetting process is completed, becoming an FCBB franchise owner is quite easy. FCBB offers an initial training program for newcomers. The parent firm also offers ongoing support options to help franchisees run their operations. This includes assistance in the purchase of co-ops advertising, grand openings, field operations, lease negotiation, and marketing materials and advice. FCBB conducts regular educational webinars to keep the franchisees and their agents up to date on new programs.
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Advantages of Owning an FCBB Franchise There are several rewards to owning an FCBB franchise. The FCBB business model is a highly scalable one. It can be significantly expanded by hiring commissioned agents. Professionalism and flexibility are essential parts of the FCBB work culture. Moreover, the 'no-inventory' clause is equally appealing to new franchisees. With a low investment, experienced professionals can become successful franchise owners. Collaborating with the company also helps initiate the franchisees into a close-knit FCBB community.
Future Calling Since 1994, the firm has sold over 1,000 companies for an aggregate transaction value of over $250 million USD This is the number I am questioning. FCBB is now concentrating on an international expansion strategy. It is looking for Master Franchisees in international markets like Europe, India, Canada, Australia, China, and the UK
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G
Bud
eted rowth 5 Strategies to
Grow on a Budget
T
he perfect business model is hinged on the ability of an entrepreneur to maximize profits while minimizing costs. Maintaining a sound growth ratio vis-à-vis a costeffective business strategy is crucial when operating in the midst of an extremely competitive market. One needs to cognize the fact that growth can be achieved without going overboard with the budget. Attaining untainted feats of success with a budgeted approach is very much plausible. We
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have listed below some of the most formidable -yet lucrative- growth strategies that will produce tangible outcomes on a budget within a short span of time: 1. Annihilate Unnecessary Expenses Slashing avoidable and unnecessary expenses is quite high on the list of all sustainable ventures. A prudent and judicious entrepreneur is always geared towards making his business more streamlined and profitable. Moreover, cutting costs will help you save money that can be then invested in the more crucial avenues of the
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TIPS
venture. An easy trick that will help entrepreneurs is to go through their expense reports and assign a score to each expense. This will help them decide which expenses can be slashed without directly or adversely affecting their revenue pipelines. They can easily make notable cuts on the most lowscoring expenses to witness tangible results. 2. Streamline Marketing Campaigns The foundations of a sustainable growth model are built on the bedrock of a stable and effective marketing campaign. It is important to remember that spending exorbitant sums of capital on marketing strategies will prove to be imprudent. One needs to ideate marketing solutions that are lucrative yet leave an indelible mark on the target audience. It is always recommended that businesses spend about 2%-8% of their total funds on curating an ideal marketing campaign. Entrepreneurs should review their marketing plans each quarter to identify loopholes and excess expenditures. This also helps in evaluating the payback from these campaigns. Moreover, such assessment also helps reallocate funds to the fruitful marketing channels while slashing the ones that brought in the least revenue returns. 3. Bundling Products and Services Another prudent strategy to grow on a tight budget will be to bundle your services and products instead of selling them as singular items. This will help boost sales. However, entrepreneurs must also be flexible when ideating these bundles. This means that they will be able to personalize bundles whenever the need be. Such a strategy will help augment the sales of the venture while effectively reducing costs. 4. Capitalize on the Social Media Channels An online presence has become mandatory in this day and age. Without a formidable presence on the internet, no venture can hope to achieve unabashed success. Thus, entrepreneurs must be able to device strategies to capitalize on this growing trend. They must ideate strategies that keep costs consistent as well as focus on this lucrative platform. The various social media portals can be used to boost
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customer awareness as well as enhance the brand recall value of the venture. Moreover, advertising on social media platforms is relatively inexpensive and effective when one aims to boost sales. Similarly, these social media channels can act as open lines of communication for the firm. They can help make the process of exchanging feedback and assistance easier, thus, boosting the brand value. 5. Curate Effective Referral Systems A firm can achieve growth on a budget by instituting an effective and notable referral system. This is a cost-effective and fruitful way of boosting your customer base while retaining your existing clientele. Devise a befitting system of incentives or rewards to help augment sales while also enhancing your brand value. This may be done through referral codes or discounts on products purchased with a code. Customers can be notified through e-mail blasts or through your social media platforms. This will help boost their intrigue in the brand as well as improve your chances at achieving higher levels of growth. Creating a venture that is geared towards the achievement of unmatched feats of success is not always an easy task. Ideating one that is based on a tight budget is a whole different ball game altogether. The crux of the matter remains the ability of an entrepreneur to judicious use the assets and resources available to her or him in a way that augments growth while minimizing expenses. This is easier said than done. The needs of each business model are different. This necessitates the ideation of a set of strategies personalized for each such venture. However, the strategies listed above when implemented effectively by a firm can help assuage some of the pr eliminary issues related to achieving growth on a budget
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The Pioneering CBD Franchise
Integrity and values are the central tenets of the brand
T
he Cannabis industry has witnessed unrelenting advancement and expansion in the contemporary era. Although entrenched in several controversies, this industry has earned the distinction of becoming one of the most novel and fastest growing business arenas. Franny's Farmacy has crafted a notable reputation in this augmenting industry. The brand specializes in the production and distribution of THC-free cannabinoids. Franny's Farmacy is committed to supporting the health and wellness of their customers and community. Their creations are based on years of experience and knowledge, yielding a product that can be trusted for the wellbeing of one's self as well as that of their loved ones.
Building a Legacy Franny's Farmacy has been carefully crafted into the formidable franchise empire that it is today by
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the relentless efforts of its Founder and CEO, Franny Tacy. As a visionary leader, Franny has successfully transformed her ingenious ideas into a growing franchise chain. Franny leverages her extensive experience in the pharmaceutical industry to help enhance the venture. Franny is supported by a dynamic and experienced leadership team including Conrad Shilingburg, COO and Tony Anderson, Interim CFO of the firm. Together they leverage decades of experience to further expand the franchise empire. Dubbed as a 'Trailblazer' by the CBS news, Franny has surely played a key role in changing the Cannabis market landscape. Her success in the industry can be encapsulated by a Fox headline that stated, 'Franny Tacy didn't set out to become a disruptor in the farming industry - it just turned out that way.' Franny has secured several accolades to her name. Her illustrious journey has been widely covered by both digital and print media outlets like Yahoo! Finance and the Boston Herald. She has the distinction of becoming the first female hemp farmer in NC. Franny was the first female hemp farmer to do a TedX talk on “Hemp as a Crop”. She was also the spokesperson in DC for the National Press Conference on the Farm Bill and Federal Legalization of Hemp in the US.
Materializing the Vision Franny's Farmacy exemplifies its avowed mission of bringing consumers trusted, highest quality “Seed to Shelf, Hemp and Health” products. The vertical integration of the franchise chain facilitates the management of quality control on all aspects of the production and distribution process, including the growing of hemp, processing, product development, as well as distribution. With the rapidly accelerating expansion of the Franny's
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Every step, every day along the way, Franchisees are supported by our team, from construction and customized design experts building-out the dispensary to marketing/ advertising, software systems, banking, training, weekly calls, mentorships, grand openings, we cover it all!
Farmacy chain across the country and its augmenting online and wholesale dispensaries, the brand has been able to secure its niche in the market.
Avowed Canons of Operation Franny believes that success begins with aligned values, goals and the ability to cooperate and be flexible. Integrity and values are the central tenets of the Franny's Farmacy franchise. These are the indispensable elements of the brand's work ethic and product delivery methodology. The team is dedicated to the process of procuring and distributing quality, high-end, traceable, and trusted products. Customer relations are of prime significance for the brand. Rightly expressed as a 'Win-Win' collaboration, Franny believes that quality product provision is the sole conduit responsible for securing customer loyalty.
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franchising support model Franny propounds, “Every step, every day along the way, Franchisees are supported by our team, from construction and customized design experts building-out the dispensary to marketing/advertising, software systems, banking, training, weekly calls, mentorships, grand openings, we cover it all.”
The Covid-19 Effect Franny Tacy Founder and CEO
Disrupting the Market The brand has successfully become a market disruptor in the recent times because of its ability to navigate through the multiplicity of changes taking place in the Cannabis market. According to Franny, it is important to remain alert and cognizant these modifications, in order to remain relevant in the market. She asserts, 'Flexibility, motivation, and inspiration are required to roll through Cannabis industry changes.'
The 'Framily' Team Ethics The brand is a product of a collaborative team effort that is guided by the brilliance of Franny. The inhouse team -known affectionately as 'Framily'- is rock solid. The supportive spirit of the team is reflective of the brilliance of its constituent members. As evolved professionals, who are driven by the purpose of making an impact on health and happiness through service, products, and education, they believe in guiding the operations of the team so as to attain new heights of success. At the same time, Franny's Farmacy believes in the need to give back to the community. They support a local charity and the national nonprofit “Women in Hemp” that funded NC State Hemp Research.
A Supportive Franchise Model The success of a franchise is solely hinged on the ability of the parent firm to support and assist its franchisees. Franny's Farmacy has mastered this prerequisite trait. In highlighting the brand's
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Franny's Farmacy has levitated from one feat of success to another. Fuelling self-growth since 2018, the initial dispensary helped fund its second and third consecutive units. Later, as the brand grew into 5 states, it went on to expand further with Franny's Distribution, Franny's Manufacturing, and multiple Franchises. However, the pandemic has acted as a catalyst for slowing down this momentum. Dispensaries across states had to be closed for a month because of the Covid-19 outbreak. During this period, the team focused on growth and development in online e-commerce sales, extending a creative concept for their franchisees to continue to profit and remain in business through online and curbside sales.
A Promising Future! At the present moment, there exists a multitude of opportunities in the CBD franchise arena as the industry moves towards legalization both in the US as well as in countries around the world. In the present context, Franny's Farmacy is moving towards the consolidation of its position in the existing markets, while simultaneously investing in sales growth through expansion of product lines and dispensaries. The opportunities for the brand are as well endless as the boundaries of the horizon
Company
Key Person
3% Realty Inc.
Roy Almog
3percentrealtyus.com
Founder and CEO
Entertainment sportz
Karan Rughani
entertainmentsportz.com
Founder and CEO
First Choice Business Brokers, Inc. fcbb.com
Je rey Nyman, CoFounder, CEO, and CFO; Linda Hentges-Nyman Co-Founder
Franny's Farmacy
Franny Tacy
frannysfarmacy.com
Founder and CEO
Hommati
Jerry Clum
hommati.com
Founder and CEO
Lime Painting
Nick Lopez
limepainting.com
Founder
PropertyGuys.com
Ken LeBlanc
PropertyGuys.com
CEO
The Smoothie Factory, Inc.
James Villasana President; Olena Villasana, International Franchise Director
smoothiefactory.net
Tommy's Express Car Wash tommys-express.com
Wine Styles winestyles.com winefranchise.com
Ryan Essenburg President
Bryan McGinness,CEO; Je McGinness, Vice President of Operations and National Beverage Director
Company Description
3% Realty is dedicated to providing clients with holistic real estate services and solutions that make the buying and selling of real estate lucrative
ESPL is recognized as a wholesome, complete events solution factory. It is a full-service event management agency that has now expanded into the franchising arena
First Choice Business Brokers provides a nationwide network of business sales professionals to help guide buyers and sellers through a business sale transaction
Franny's Farmacy specializes in the production and distribution of THC-free cannabinoids Hommati helps you search and see homes for sale from all perspectives, 3D Interactive Tours, Aerial Videos, Photography and via Augmented Reality LIME Painting is the first and only national high-end painting company. LIME Painting is an unrivaled residential and commercial painting company that specializes in the best products and services o ered by the industry to ensure the brilliantly engineered, custom results and lasting impressions
PropertyGuys.com Inc. is a Canadian private sale real estate, or FSBO, marketing company based in Moncton, New Brunswick The Smoothie Factory is the juice bar franchise with innovative, delicious and healthy products
Tommy's Express is a national car wash franchise that o ers quick service, modern facilities and a professional clean
WineStyles Tasting Station is a wine and craft beer retailer that empowers you to shop for wines based on flavor, instead of grape varietals or wine regions
6 Ways of Leveraging Modern Technologies to Create Formidable Franchises
T
he importance of the tech revolution can hardly be overemphasized. It has left an indelible mark on all sectors of the market, including the dominion of the franchise industry. Technology helps provide the much-needed local intelligence to the franchise stores that in turn can be leveraged to build and nurture long lasting and stable customer relations. Most smart franchise brands have embraced the benefits of these technological tools to attain higher levels of efficacy and growth in the industry. Mentioned
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below are some of the most formidable technological tools used by franchises to expand in the contemporary period:
Leveraging the Benefits of AL and ML The augmenting growth of AI and ML technological tools has proven to be extremely favorable for the franchise owners. Franchises can now track inventory orders through ingenious software solutions to make the process of reordering and stocking much more streamlined
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TECHNOLOGY
and efficient. AL and ML-enable programmes provide real-time intel to franchise owners on their spending patterns. Predictive analysis offered by ML empowered software programmes help forecast the most likely next purchase a customer will make from the franchise's line of products and services. Thus, running a franchise has been infused with a renewed sense of efficacy in the modern age.
its success in the current era. By focusing on building a digital infrastructure, a franchise chain can reduce the costs needed for offline staffing while offering an enhanced level of freedom and flexibility to customers when they want to order or schedule services. Moreover, through analytics, franchises can learn about the purchase patterns and preferences of customers.
SMS Marketing Enhancing the Efficacy of Training through Gamification Creating a successful franchise is based on the fact that all its diverse employees can learn and emulate the same statutory principles of operation. The expansion and diversification of the digital space have provided a novel opportunity for the employees of a franchise to excel in this arena. The advent of gamified training initiative- owed to the growth of technical know-how- has resulted in a complete alteration of the training arena within the franchise industry. App-based gamified training has made training initiatives for franchises more nuanced, competitive, and fun. Such a positive training experience is embraced by the franchise chains to successfully onboard employees and attain 100% customer satisfaction. This process helps produce skilled and well-trained workers.
Advanced POS Advanced new point-of-sales tech offers a host of benefits, extending beyond the convenience of quick and easy payments. Combined with other technical tools like integrated accounting and automated marketing, POS tech has revolutionized the franchise industry. When used judiciously, these tools can help the franchise understand its areas of concern and ideate strategies to alleviate the stated issues. Crucial insights into the financial standing of a brand is provided by leveraging such adept and astute technological tools.
Developing an Online Infrastructure Digital transformations have gripped all sectors of the industry equally. Online payment and ordering has become the accepted norm of the contemporary times. The franchise industry has also leveraged the boons of this development to further augment
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SMS marketing strategies are being used by franchises to outgrow the age-old email notification trend. By leveraging software programmes that automate text messages, streamlining the distribution of offers and coupons to clients becomes much more efficient and effective. SMS marketing is becoming a well-loved option among most franchises all over the world.
Customized Loyalty Programmes Similarly, by leveraging the astute brilliance of AI, franchises are leveraging the benefits of a personalized reward system for all its clients. By studying the purchasing patterns of clients, franchises can customize their reward structures to the preference of each individual customer. This means that franchises do not need to restrict themselves to a singular loyalty programme to reap the benefits of customer retention and growth. They can implement multiple loyalty programmes that are as diverse as their clientele. The most important point to cognize while leveraging these technological tools is that there is a significant amount of money that needs to be invested in them to see plausible results. This is an area where franchises have a definitive upper hand. As national or international chains they have the resources at their disposal to harmoniously implement these technical feats secured by science in the course of the by-gone decade. However, it is needless to say that even if franchises have a considerable share of resources under their gambit, they have to evaluate the cost-effectiveness of implementing each measure quite carefully. The aforementioned technological tools can be selectively or collaboratively implemented by franchises to attain tangible results
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