Many successful Entrepreneurs choose Franchising patterns in developing its business. Using the pattern of a franchise means you must be prepared to share the profits with the investors or franchisees. Different if you open your own branch of business, all profits will go into your pocket without having to share profits.
Here are some requirements for you if you want to develop a Franchise Business:
1. You build the business must be successful. Measuring success is not only in a matter of months. At a minimum, the Franchisor needs to prove the success of business in the last three years. Less than that, it has become a reason for prospective investors to buy them.
2. Ensure that the Franchisee can succeed. Meaning, which was built by the Franchisor’s business it’s very profitable and its progress shows that the sales performance continues to increase. Do not until you have the desire simply to get a franchise fee or apply the short-term targets without considering the factor of franchisees.
3. Business can be operated by Investors. You or your staff should be able to train prospective investors to run the business in the not too long.
4. You must have a user manual for all business operations, whether daily, weekly and monthly. The goal of Franchisees can run the business according to the instructions manual systematically as you do to achieve maximum results.
5. The Product you sell should have a market appeal in the long term. Some products have a very short life cycle, especially for fashion products. You have to think about the concept of product so that it can survive long in the market. Therefore, you must have a product differentiation or uniqueness.
6. It has to run in many places. These Businesses can be run in many places in accordance with business requirements and can be moved to another location, including overseas.
7. Your Business must have a good enough market potential to be enjoyed by the franchisee. In this case, the franchisee must also be able to achieve a reasonable profit after depositing the first capital for the business establishment. Do not be withdrawn until the margin was too high so that the adverse franchisor.
8. The Business is legally registered with the name or brand. This should be done not only to protect your business, but also the Franchisor has to use your brand.
9. As a Franchisor you must have a human resources and adequate funding source to support your efforts next.
Here are some requirements for you if you want to develop a Franchise Business:
1. You build the business must be successful. Measuring success is not only in a matter of months. At a minimum, the Franchisor needs to prove the success of business in the last three years. Less than that, it has become a reason for prospective investors to buy them.
2. Ensure that the Franchisee can succeed. Meaning, which was built by the Franchisor’s business it’s very profitable and its progress shows that the sales performance continues to increase. Do not until you have the desire simply to get a franchise fee or apply the short-term targets without considering the factor of franchisees.
3. Business can be operated by Investors. You or your staff should be able to train prospective investors to run the business in the not too long.
4. You must have a user manual for all business operations, whether daily, weekly and monthly. The goal of Franchisees can run the business according to the instructions manual systematically as you do to achieve maximum results.
5. The Product you sell should have a market appeal in the long term. Some products have a very short life cycle, especially for fashion products. You have to think about the concept of product so that it can survive long in the market. Therefore, you must have a product differentiation or uniqueness.
6. It has to run in many places. These Businesses can be run in many places in accordance with business requirements and can be moved to another location, including overseas.
7. Your Business must have a good enough market potential to be enjoyed by the franchisee. In this case, the franchisee must also be able to achieve a reasonable profit after depositing the first capital for the business establishment. Do not be withdrawn until the margin was too high so that the adverse franchisor.
8. The Business is legally registered with the name or brand. This should be done not only to protect your business, but also the Franchisor has to use your brand.
9. As a Franchisor you must have a human resources and adequate funding source to support your efforts next.
