In simple words, franchising is a practice of using another firm’s successful business model. For instance, Mr. Sharma here, started a Chinese food outlet in Mumbai. Within a span of 6 months, the outlet was doing remarkable sales. Within a year, Mr. Sharma opened three outlets and all of them very doing exceptionally well. This instigated him…

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Expansion is the only way a business can grow. Franchising is one of the instruments that helps you expand to a greater scale and increases the profitability of your company. Commencing a business is the first step in the entire process. There are three important elements that you need to decide on while starting your business: market place, quality…

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Legally there is no timeline which you need to follow to start franchising. You may think of an idea and decide on to go on with a franchising model. Thus, there is no specific formula that helps you decide whether your business is ready to be franchised or not as every business has its own development or growth period. There are certain parameters…

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The decision of settling upon a franchise depends on your business concept and requirement. We can broadly classify the franchisees in three different segments:   1. Investors   If money is the only requirement for you to select a franchisee then Investors are what you are looking for. These kind of people are least bothered about the operations…

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It often happens that you wish to get into business but unsettled on what kind of business to start. At this point you have two choices: one is to take the risk and start your own business and learn and the second is to take up a franchise of an existing business. For all pragmatic purposes, you are still starting a new business but there is someone…

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You may decide to take up a franchise business as and when any of these reasons get accomplished: 1. Successful prototype If the company has an existing business which is very successful, then you may consider taking up the franchise of that company. For this you will be required to check the turnover of the company from its existing business, the…

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The first question that we have been asked by the franchisees while discussing a franchise proposal is “Kitna paisa niklega?” which means “How much will be my Return on Investment (ROI)?” The discussion about the brand, operational support and other queries begin after this. This is the most important question as 80% people…

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