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Franchise Setting Up
Franchise Setting Up
Franchise Setting Up
What could be more effective than expanding at a faster rate than setting up your shop at a fraction of the cost, well the answer is a franchise of course. Well before we go into the merits lets see what a franchise actually is: A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. An individual who purchases and runs a franchise is called a "franchisee". The person/institution who sells to the franchisee is the "franchisor. The franchisee must pay a franchise royalty fee, as well as an up-front, one-time franchise fee to the franchisor. Whats the advantage? 1. Free Brand Recognition: Mega-brands like McDonalds and Dominoes have spent crores on their brandings and logos and the franchisee gets to take full advantage. Thus you get instant public attention. 2. Free Advertising: Advertising can be one of the biggest expenses for any new business and by opening a franchise you can side load on the parent companys advertisements. 3. Free Legal and Corporate Aid: There are designated legal departments in parent companies that take care of the inevitable issues like lawsuits, accidents, and difficulties with employees. 4. Free Training and technology transfer: Ongoing and online support is always available as well as special alerts and continuing education. Franchisors want you to be successful and they make themselves available every step of the way
Continuing fees in the form of royalties, management service fees, advertising and marketing. Unless you're sitting on a mountain of cash, start this process early on because the answers can be quite different from what they were just a few months ago.
Matches your financial resources Provides you with the lifestyle you imagined Uses your particular skills and experience Provides a recession-resistant product or service Has a majority of happy and successful franchisees
Employs an experienced and enthusiastic staff of personnel who will help you achieve your dreams of business ownership success
Moreover speed carwash has a pre-established reputation in servicing Car dealerships and Local business and hence the business opportunities with speed car wash is more.
Step 9: Discuss Final Terms with Franchisor Speed carwash parent agency would send a contact person anywhere in Delhi to discuss terms. Info attained from agency contact person at +91-9814700087. Personal contact and confirmation unachievable for a basic study.
Need to undertake a primary and secondary data survey to have confidence in decision.
BIBLIOGRAPHY 1. http://smallb.in/franchise-opportunities-india -Indian franchise opportunities 2. http://www.franchisedirect.com/information/guidetobuyingafranchise/franchisefundingandthebusi nessplan/29/199/ -franchise applications. 3. http://www.investmentnetwork.in/ -investor connect. 4. http://www.entrepreneur.com/article/198310# -franchise funding 5. http://www.entrepreneur.com/article/198992 - franchise setup steps.