1 / 5

Business Franchising: How to have a good start

View and read our presentation to know how to have a good start on business franchising. Visit www.identitypi.com for more details.

sharonpillar00
Télécharger la présentation

Business Franchising: How to have a good start

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Business Franchising: How to have a good start

  2. Business Franchising • Business franchising or franchising as defined by Wikipedia.com, is the practice of the right to use a firm's business model and brand for a prescribed period of time. From the definition itself, it is clear that there will be crucial interactions between franchisee and franchisor during the transaction. Business franchising requires a whole lot of trust to make it happen and before starting to indulge in business franchising, here is a list of pros and cons for one’s informational boost:

  3. The Pros • Well established can lead to success – there are lots of franchise around and sometimes choosing the ones with big names gives the franchisee an extra edge • Continuous support – unlike starting a business, a franchisee gets a lot of support from the franchisor. • Location well picked – franchisors, especially the well-established ones, carefully and strategically choose the location where the franchise would be developed for the franchisee.

  4. The Cons • Fees – Usually there would be two type of fees that a franchisee would have to deal with, the Initial and ongoing fee. Initial fee is the price the franchisee has to pay upon franchising the business. Ongoing fees usually occur monthly as the franchise continues. These fees add up to the responsibility of the franchisee which make it a bit stressful that it is to owning a business. • Assorted decisions – when choosing a big franchise, franchisees get to encounter different people of different positions making different decisions for the franchise, sometimes these kind of conflicts lead to the franchised business’s downfall. • Hard work 24/7 – some think that after franchising a business, they just need to sit back and watch the income roll in. That is actually false. When it comes to franchising, hard work is needed to meet the standards of the franchisor to keep the franchise going. • Safety – not all people can afford franchising big businesses, that’s why there are also small franchises available in the market. However, there are some that just offer scam services or services that won’t even be selling. The worst case scenario is paying the initial fee and not getting anything at all.

  5. Conclusion • The best strategy to have a good start franchising a business is knowing that the people behind the franchise has no arrest records. To make sure that these people are arrest records free, run a background check on www.identitypi.com to check for any arrest records that these people might have.

More Related