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1. What is a franchise (franchise chain)?

Franchising is a sales strategy and a way for commercial organizations to promote products and services to customers. Franchising can be used as a sales strategy or in conjunction with other sales strategies. For example, through franchising, a business organization can use the business methods, intellectual property rights, trademarks, models, etc. of the franchised organization. There are different types of franchises due to the varying degrees of operational control the franchisor has over the franchisees. The most common type of franchise is a "business model franchise," such as McDonald's.

Business model franchising teaches a complete set of business methods to franchisees and requires franchisees to operate in exactly the same business model as the franchisor under the control of the franchisor.

Franchisees need to pay a franchise fee for using the franchisor's trademark and business methods, as well as subsequent royalties. This fee enables the franchisor to provide follow-up support to franchisees.

2. Why not use franchising instead of opening more shops?

Franchising can be a great way for a business organization to increase sales, develop new customers, and provide better service to existing customers.

Franchising is a particularly practical option when the market has a large demand for the products and services of a commercial organization, but the organization itself does not have enough internal resources or funds to establish a large store network of its own. expansion strategy. The business is expanded through each franchisee's capital, not the franchisor's capital.

Many franchisors find that customers can get better services by cooperating with business owners (franchisees) and letting franchisees manage their own stores. Franchisees commit and pay more than hiring workers, that is: the franchisor finds that it can gain more profits by cooperating with franchisees than hiring workers.

3. Is my business suitable for franchising?

The main factors that determine whether a business is suitable for franchising are:

Is there a replicable way of doing business?

Can business methods be taught to others through training or courses?

If we operate according to the franchise method, will the business be unaffected by the number of shops and still be profitable?

Does the existing business model have the right or sufficient strength to support a group of individuals working in a team environment?

Is the boss ready or agrees to establish a cooperative relationship in the form of a franchise?

Many organizations suitable for franchising find that they need to strengthen one or more of the above aspects so that franchising can be more profitable.

4. I have a great business/project/invention. How do I use this for franchising?

Strictly speaking, you cannot franchise a project or invention. Only the business methods and methods of operation under this brand can be used for franchising.

An organization must have a successful operating record and certification before starting a franchise. It is also possible for a new organization to use franchising, as long as there are successful examples of similar and experienced organizations before it.

If you are currently only in the planning stage, you need to start a business and make it work successfully before franchising is a viable option.

5. How to franchise my business?

To successfully franchise a business, you need to:

Systematize the business

Analyze your own business and its operations to decide whether you are ready for franchising

Make a detailed franchise plan to guide you in gradually establishing a franchise network

Prepare to operate Operation manuals for methods, sales, customer service, OH&S and franchise training

Prepare legal documents, including franchise contracts and public documents

Assign franchisees, i.e. licensees< /p>

Since mistakes are easy to make when establishing a franchise, generally a group that implements a franchise will not have more than 7 to 10 franchisees. Smart organizations choose to work with franchise consultants, who take care of areas with which the organization is unfamiliar.

6. Our company has high-level, highly professional employees. Is it better to establish an in-house planning team to develop a franchise than to seek help from outside consultants? After all, we know our business better than anyone on the outside.

Most of the franchise business can be completed in-house, especially the operating system manual. Highly qualified employees who can develop and describe operational systems are a huge asset in growing a franchise, and they can save you time and money. Franchising also has its own professional requirements, which are best handled by an experienced franchise consulting firm.

This type of company can ensure the safety of your franchise plan while providing you with professional knowledge and objective advice. If no one objectively assesses your current systems and franchise readiness, you could end up losing money due to mistakes that could have been easily avoided. Franchising comes in many forms for you to choose from. By evaluating different formats and establishing a franchise system that best suits your operations and company culture, you will get a business model that easily integrates with your existing operations.

Franchise systems or franchisee allocations that compete with the rest of the company's systems will have difficulty surviving.

7. We are interested in franchising our own business, but our company is small and does not have enough time and suitable employees to develop a franchise. If you develop your own franchise business, it will have a negative impact on the company's other businesses. Since we haven't decided on franchising yet, it's still too early to hire someone else. Should we abandon the whole idea?

The most common approach is to obtain franchise guidance from an outside consultant, such as Bossible, while continuing the operations and overall development of the business that you are familiar with. When you want your franchise to continue to grow, you need to step up to the plate. However, this process can be carried out in stages or as part of the overall franchising plan of the business. Typically we work with our clients for 12 months or more to get them in a franchise-ready state. We can also set up a franchise system and start operating it within three months, depending on the circumstances of each company.

Bossible can also provide assistance during the franchising process. This assistance is helpful for companies with smaller administrative staffs. Bossible can provide franchisee assignment, franchisee training, franchise brand building and franchise management services at the request of such customers.

Tel: 2121 8895

Fax: 2314 9321

Email: [email protected]

Website: bossible