JITO JBN to host Sparkleminds and FranchiseBazar.com founder and CEO Mr. Amit Nahar at a Mega National Networking Event JBN 360 on 14th and 15th of December 2019 at Sheraton Grand, Bangalore.
The event aims to provide a common platform to meet and connect every stakeholder enthusiastic about new business opportunities in India.
The session will begin with a Masterclass by Mr. Amit Nahar on how to franchise a business covering everything you need to know about expanding your business via the franchise model including the do’s and don’ts when looking to expand your business followed by a panel discussion which will revolve around how entrepreneurs can make the most from the franchise opportunities in some of the top business segments in India.
The discussion will be attended by the key personnel from various brands making the most out of their franchise expansion strategy who will be pointing out some crucial suggestions that these brands would have for entrepreneurs from their segments.
The Panellists would also be shedding light on their successful franchises and what they look in entrepreneurs giving the audience an insight into what it takes to buy a successful franchise and how they can benefit from it.
The session will be held at Sheraton Grand, Bengaluru on Saturday, 14 Dec 2019 from 12.00 PM to 1:15 PM and would witness the presence of Mr. Amol Arora, VC & MD OF SHEMROCK & SHEMFORD Group of Schools, Mr. George K G, Sr. Vice President – Retail, at TTK – Prestige Limited, and Mr. Parag Dutta, Founder and CEO at Roadster Hospitality Private Limited, Mr Sunil Menon, Vice President, Lenskart along with Mr. Amit Nahar.
Each of these Panelists have appointed over 500+ Franchises and have tremendous experience in the franchising industry of India. They will throw light on the challenges they face and how to build a model that can be successful and scaleable.
Franchise manuals is an important document between the franchisor and the newly hired franchisee. Franchise manual refers to all the details of the franchise brand that needs to be followed. The details could range from marketing activities of the franchise to workflow of all the employees, the ground staff. It also gives out the responsibility of very individual in the franchise business.
The franchise manual is further divided into 3 main types of manuals in the franchising world.
I) Franchise Operations Manual
II) Franchise Training Manual
III) Franchise Marketing Manual
Let understand what each one stands for and its importance:
I) Franchise Operations Manual
The franchise operations manuals is the first and the foremost important manual document between both the parties. The manuals will have the complete details on what are the roles and responsibility of the franchisor and the franchisee. The operations manual will contain the duties of the franchisee towards you (franchisor) and the brand.
It will contain the steps or the procedure to be followed to fulfill the defined duties in the operational manual. Which is by the franchisor towards the brand. It is an important document as it plays a part as a local manual. The manual will contain the steps and the procedure to create a uniformity in the business and how to go about achieving it.
The few main aspects of the operation manual are:
The aims of the franchise system.
Steps and the process of achieving uniformity in the franchise brand, towards the customers and the brand.
Details on customer handling and addressing their issues/queries.
It is also important, here, to understand that the operations manual will vary from industry to industry. For e.g. the operations manual will differ for a restaurant business and hotel business, though they fall in close categories.
From the above, it is important for the franchisor to understand the importance of having an operational manual in place. Inducing better working of the franchise and also build a strong relationship between both the parties.
There have been instances where entrepreneurs working in the fast food industry have referred, Mc Donald’s franchise operations manual, subwayfranchise operations manualpdf and built their own. They have failed to understand that they are international brands and have an altogether different configuration of their own. We as Indian brand cannot adopt those work on the same lines.
Here, there is a need for an expert who can help them with calking out the right operations manual. We Sparkleminds pitch in and help brand with working closely with them and building the best operating manual for them. This manual will be in sync of both the franchisor and the franchisee.
II) Franchise Training Manual
Like the franchise operations manual the franchise training manual too plays a critical role in the franchise business. The franchise training manual also works in building a healthy relationship between the franchisor and the franchisee.
It is very important for the franchisee to work in line with the franchise business. The franchise training manual will consist of rules/regulations, and steps to achieve and work towards a consistence delivery of services which is promised to the customers by the brand.
Any change in the delivery of service by the brand can hamper the image of the original franchise and may bring the downfall of all the other franchisees of the brand, regardless of other franchisees doing great in the given location.
Usually, the franchise training manual will consist of the details of the person who is to be trained, the training duration, training location, contents of the training etc. The training document that is the franchisee receives from the franchisor will have all the details of who is to receive the training, what is the training that will be received, how long will the training go on i.e. one week or 1 month etc. it is very specifically mentioned.
The training is generally provided before 3-4 weeks of the franchisee commencing operations, but in a few cases, it begins immediately after the agreement is signed between both the parties. The franchisee here should also understand that the training imparted is not only for him/her but must also include all the employees and the workforce to be included. The reason they too are included is there are specific modules in the training manual that are a target at the employees who will be in the business fulltime. They may have to manage things during the absence of the franchisee and how to go about running the business successful at the absence of the franchisee.
The training manual not only plays an important part for a brand of Indian origin but is very crucial for international brands too that looking at setting up base in India. Brands of international presence have to really work on their training manuals as per Indian specifications. There is a vast difference in the types of training given for a brand of international presence and a brand of an only national presence.
There are a few successful brands of international presence who have been able to make changes in their training manual as per the country they target. For e.g. Mc Donald’s, Pizza Hut, Dominos, Subway and more. Due to their success entrepreneurs are often searing for Mc Donald’s and Subway franchise manuals and try implementing it in their own business.
With the above, it is understood the importance of having the right training manual in place and how it plays a role between the brand, franchisor and the franchisee. Providing the right type of training imparted to the franchisee can do wonders for the franchise and vice-versa. With the experienced team of experts at Sparkleminds, we have chalked out training manuals for brands of Indian and foreign origin and helped set base in India.
III) Franchise Marketing Manual
The 3rd most important part of the franchise manual is the marketing manual for the brand. The marketing manual is also equally important from the above 2 mentioned manuals in franchising.
The marketing manual consists of all the details of marketing activities that the franchisor will do. This will be on behalf of the franchisee for the brand. It also contains details and plans of all marketing related activities which the franchisee has to do. To create a presence in the local market and start building popularity in the local market.
In today’s competitive market it is really important for the franchisee to look at creating a brand marketing strategy. On both online and offline marketing platforms for better reach.
In the offline technics, the franchisee can use marketing strategies like – Newspaper ad, banners, pamphlets, word-of-mouth marketing, publicity activities etc. They can also look at setting up stalls at shows relating to their industry. Setting up stalls at common shows will also work for the brand.
In the online marketing technique, the best way to create awareness is to have a presence on social media platforms. The franchisee should not only have a presence in all social media platforms but should also timely keep on posting. Doing this keeps the audience engaged with their brand. Some of the best social media platforms to be used are – Facebook, Twitter, YouTube, LinkedIn, Instagram and more.
From the overall blog it is now understood that having the right type franchise manual for the brand is important not only for the franchisor but to the franchisee as well. We have also understood how having different manuals contribute differently in keeping the brand alive in the market. At Sparkleminds we understand the importance of different franchise manuals and how they play different roles to the franchisor and the franchisee. With over 20+ years of experience and having worked with 500+ companies with brands ranging from beverage to clothing to education and more. We have chalked out the best franchise manuals for them to work in sync and have been doing great till date.
Visit us and we will build the perfect franchise manual for your brand too!
A franchisor should understand that it is equally hard to generate a right lead as compared to setting up a franchise. It always calls for expert advice on the same. Therefore, experts in the industry need to understand what is the right kind of lead generation techniques to be used. To hire the best franchisee for your brand.
Sparkleminds, is the right franchise consulting company in India, with our team of experts we will develop an effective strategic marketing plan, which will help you generate the right lead for your business.
Pondering upon how to get qualified franchise leads?
Sparkleminds has 3 best resources through which a franchisor can get the best leads for their business they are –
Over the Phone – What we do here is, once we have understood your market audience. We now give out advertisements of your opportunity at the right targeted audience. Furthermore, the advertisement will also include timely e-mailers, classified advertising. All this is done via an established franchise lead generation
Internet Inquiries – The leads that contact us through this form, are those that have directly reached, either through direct search or replied to any of your advertisements. Brands also look at registering themselves at franchise portals and get all the required leads for their business. This can be done by taking up a membership plan and they shall serve you with a suitable franchisee as per your interest.
Franchise Consultant Leads – These are those forms of leads which are generated through franchise brokers or portals in the franchise industry. These potential candidates are already screened and the best have been selected for the next round.
Acquire Franchise Leads in India
The leads generation campaigns that Sparkleminds develops and releases are totally tailor-made as per your business. It is important for the franchisor to give out a clear message to all those who come across your advertisement and wish to apply for the same.
The other cost-effective form of hiring the right franchisee is to reach out to the people who know your business. This will, in turn, help you get potential leads as they will talk good about your brand in the market creating a reputation for the business.
Below are a few other ways to generate leads, cost effectively
Franchise Lead Generation Portal – Contacting franchise portals is one of the most cost-effective ways to seek potential leads for your franchise. Popular franchise portal like FranchiseBazar has a good amount of database with them. The database contains a list of franchisees who wish to take up a franchise, and they can help you with a list of franchisees that have a similar interest, which matches your business needs. Franchise portals like FranchiseBazar generate leads on a regular basis via social media accounts. i.e. Facebook, Twitter, LinkedIn, YouTube and more. They also have a ground team working regularly to generate leads of good potential.
Franchise Lead Broker – They work on success format, they do not charge anything upfront, but take a charge if a franchisor finds the right franchisee for their brands.
Franchise Database India – There are a few franchise database companies that keep data of franchisee. Franchisors can buy data from them, segregated on the basis of – interest, investment, location, city and many more.
Print Advertisement – A print form of advertising is also a great form of marketing. You can look at ads in, newspapers, magazines and many other print forms.
Franchise Exhibition in India – Attending franchise exhibitions is one of the most expensive ways to garner leads for your franchise. It requires a professional approach to visit franchise exhibitions and make a conversion during the time at the expo.
Sparkleminds is the right franchise portal for any brand to visit who seeks a more cost-effective and genuine lead generation method. At Sparkleminds the team of experts chalk a promotion plan for your business. We completely understand the importance of a lead and therefore, work the best ways to generate the best lead for your brand.
Franchise Database India
Sparkleminds comes among the leading franchise consultants in India. Having over 2 decades of experience in the field. We also work with a large number of entrepreneurs who are looking at new opportunities for starting a business. With FranchiseBazar (a franchise portal) is among the largest franchise portal in India. They have a database of entrepreneurs at a pan India level. Ranging from all the big to the smallest cities. Therefore, we are at a stage where franchisor can expect the best lead from our end which would be the perfect fit for their franchise business.
Having the right franchise advertising in place plays a major role in getting the right franchise leads for the business. Over the years Sparkleminds have worked out the best advertising plans that have been proved effective. These plans have helped franchisor recruit the right franchisee. If you have Business Expansion as your priority, then we can help you scale up quickly.
Franchise Advertisement in India
Franchise advertisement in India have over the years, changed drastically. Companies now give a lot of crisper and totally targeted Franchise advertisements. Franchisors have understood that it is important to advertise only for those which could become your potential franchisee in the near future. Doing mass advertising is of no use and a waste of money. The marketing campaign too should be addressed to the right target audience of your business.
Forming a Tailored Franchise Market Strategy
The marketing team at Sparkleminds is structured in such a way that, we build, design and plan the right SEO and SEM for your business. All the advertisements carried out by us is tracked and measured, giving you real-time data. Franchisors can visit FranchiseBazar and list their brand on the portal. You will also have to choose the right advertising plan for your franchise.
A complete end to end solution is provided here. We reach out to all the entrepreneurs seeking a new business annually. We also become a part of franchise shows and build a strong network with the people there. we also explore opportunities in Tier-II and III cities for a better market reach.
Digital Marketing for Franchises
Digital marketing is the future of marketing. Franchisors are making the most out of this. With digital marketing, franchisors can now market to only those which match their requirement. Doing this helps them cut cost and also generate leads, which are authentic and fruitful.
Best Way to Advertise the Franchise of Your Business
Though marketing through the internet can be fruitful, it could also turn the tables wrong. It is important to understand that using which form of digital marketing will help you get the right lead for your business. There are a lot of forms of digital marketing i.e. LinkedIn, Twitter, Facebook, Ads and more. Understanding your target audience and using the right form of advertising is hard.
Here, we at Sparkleminds come for your rescue. With a team of digital marketing experts at our backend. We design and execute the perfect digital marketing strategy for your leads. Sparkleminds has time and again used all the forms of digital marketing to generate leads to different types of industries. Sparkleminds completely understand the advertising mediums to be used to generate a certain type of leads.
Franchise Email Marketing
Do you know email marketing is one of the most cost-effective ways to generate a targeted and authentic leads for your business? This method is used for a decade now.
To have an effective email marketing in place. You will need a database of email ids that have the set targeted audience whom you wish to target. For this you will have to get in touch with franchise portals that could have a list of details of franchisees which match your requirement, making use of the list will give an immense boost to your lead generation list.
FranchiseBazar is your answer to seek details on a franchisee list. They were the leading franchise portal in India. Entrepreneurs are invited to get registered and update their email ids, which we use for our database. Once this is done the backend DM team send regular emails and messages to these fixed set of franchisees to keep them updated about your opportunities. It also includes newsletters and more. By this Sparkleminds aims at connecting tier – I, II and III cities, towns etc.
Effective Franchise Email Template
Create a target audience-oriented campaign.
Keeping content short and precise.
Having a message consistency throughout the mailing.
Crisp details of what you seek in a prospective-franchises
The message interpretation should be the same for everyone.
The franchise proposal to the entrepreneur should consist of the following.
Financial investments and ROI.
Functions of the Franchisee with instructions.
Company and industry snapshots.
From the above, we can understand the importance of email marketing. Having done the right email market will reap profits for both the franchisor and the franchisee. A franchisor who is looking at a multi-franchise model for multi-location, state etc. Will need a different pitch for each location. Therefore, we at Sparkleminds have a team of email marketers who can get you best franchise lead generation for your business.
Get in touch with us and with our team of email experts and get the most out of our service.
Online Marketing Franchise Opportunities in India
Online marketing franchise opportunities in India is the future. Companies have moved out of the old and traditional forms of marketing. Traditional forms were a lot expensive and hard to target the right audience.
Online marketing opportunities are huge as people are more inclined to online media. Due to the large presence, brands find it easy to address a larger audience at a pocket-friendly cost.
Marketing campaigns can be a target to a specific audience as per the franchisors demand. You can also look at addressing a micro market through an online marketing platform than the traditional one. At Sparkleminds our digital marketing experts can provide you with the best leads using all the local online marketing tools. Leads are generated as per franchisor’s interests.
In this blog, we will understand the problems of any franchisor when it comes to how to recruit the right franchisee. With also giving you all the required insights to hire the right franchisee for your business.
I) Strategy Leads – This refers to the franchisor should strategically design a marketing plan. The franchisor can get a large number of applications for the franchise business. Doing this will help them identify and find the most suitable franchisee for their business.
II) Suspect Leads – In this step as the franchisor now has a lot of applications for the franchise. The franchisor has to nows screen them and sort out the most suitable ones and reject the unsuitable.
III) Potential Leads – At this stage, the franchisor has sorted out the applications and chosen the best and suitable franchisee candidate. The franchisor now should have a detailed discussion with the potential franchisees. Therefore, by doing this it will help the franchisor to ascertain if the chosen once are good enough to run the franchise. They should also be in line with the mentioned rules, regulations and more.
Likewise, the franchisor can also understand if he/she has really got the right skills for the franchise business. The franchisees plan for the franchise and how does he see the franchise to be in the future.
IV) Qualified Leads – This is a stage where the franchisor now has selected the best potential ones for the next process. In this stage, the candidates are those who could really be interested in taking up a franchise of the brand. A few criteria on the basis of them been selected are – financial capability, management skills, team working etc. The most important selection qualification is to assess and know if the franchisee is in total sync with the business. Which he/she will be able to run it and provide results as per the desire of the franchisor.
V) Recruited – This is the final stage where; the franchisor has screened all the qualified leads and now has selected the best one. The franchisee selected has undergone a rigorous screening process and the best one has been chosen.
The above mentioned are a few steps which the franchisor can adopt and screen or select the right franchisee after he/she has cleared all the step and have met all the criteria to take up a franchise of your business.
A franchisor must here, understand that it is not an easy task to select the right franchisee. Though the above-mentioned steps are effective. There have been instances where franchisor have selected a wrong franchisee for the business, have had troubles and terminated the franchise agreement.
With the help of an expert, it is necessary to draft a franchise development plan and mention all the requisites to select a franchisee. Doing this will help the franchisor understand who is the target audience for the business and what kind of marketing strategies will attract them to apply for a franchise of the business.
The above-mentioned points have made it clear in terms of how to attain potential franchisee or how to attract a franchisee, but it all sounds easy but then said and done. It is important for a franchisor to visit and seek help from a franchise consultant to understand the term franchise recruitment better.
An expert from the franchise consulting industry will help you with the best franchise development plan which in turn will help you attract a better and a potential franchisee. Sparkleminds is the best in this in this industry. They have been in the franchise industry for over 20+ years and have worked out franchise model for 1000’s of brands. These brands have now been successfully established, doing great in the market.
An early franchise consultation will help your business be ahead in the league of other business who start late. Since competition is cutthroat, expanding via franchise is the best.
Sparkleminds is your one-stop solution for all your franchise development plan, regardless of expansion in the same city, inter-city, state or at a pan India level. With the teams of franchise experts at Sparkleminds. We, also help brands establish franchises internationally and provide all the insights on how to sell your franchise internationally.
Franchise agreements play an important part between a franchisor and a franchisee. It is the legal binding of the parties. With the increasing number of franchises, international and national, understanding the franchise agreements is equally important for the same.
It is important for a franchisor and franchisee to understand why does one need franchise agreements in place. Franchise agreement further helps in avoiding franchise disputes. The agreement also contains the day-to-day operations of the franchise with maintaining the standards of the business.
Every franchise business is different vis-à-vis the industry; therefore, it is necessary to understand the suitable franchise agreements for business. There are mainly 4 types of franchise agreements a franchisor and a franchisee need to understand – namely:
I) Single-Unit Franchise:
A single unit franchise is when the franchisor gives the franchisee the right to open a single unit of their franchise. It is to understand the market dynamics and capabilities of the franchisee.
II) Multi-Unit Franchise Agreement:
In this type of franchise agreement, the franchisor gives the franchisee the permission to open and operate more than one unit of a franchise business. The franchisee is told to develop a few pre-determined numbers of units to be set up. In case he/she fails the franchisor can opt for another franchisee.
III) Area Development Franchise Agreement:
This type of franchise is similar to Multi-unit franchise. The only difference is the franchisor grants an exclusive right to develop franchisees in that location. No other franchisee is given permission to set up a franchise there. Therefore, no other franchisee is given permission in setting up a franchise there.
IV) Master Franchise Agreement:
This type of franchise is a lot bigger than the area development franchise. Here, the franchisor gives the sole rights the franchisee not only to open a set number of units, but also the franchisee can give out franchises within their geographical location. It is more or less like a franchisor in one particular area geographically.
From the mentioned types of franchise agreements, we can understand the types of franchise format. Each of them requires a different type of franchise agreement between the franchisor and the franchisee. They also have to take note of different types of franchise laws applicable and how do these laws have a direct or an indirect effect on the franchises. Here it is important for a franchisor to take help from a franchise consultant and understand all the intricacies of the same.
As the functionalities of every franchise are different it is important for a franchisee to seek guidance from a franchise expert. Sparkleminds is your answer here, a franchise expert in India with over 20+ years of experience and has helped 1000’s of brand expand via franchise in various categories of business at a successful rate.
Sparkleminds is a leading franchise development company in India, they have been in the industry for over 20+ years and have helped 1000’s of brands across industries establish in India by guiding them through the franchise route.
The prime criteria to understand a prospective franchisee is to understand if they have the finances required to start franchise. The franchisor will also need to understand if the location of the franchise business is apt for the brand. This will help them understand if they can retrieve the number of profits it has planned for the franchisee.
There has to be a clear discussion on the amount of royalty to be paid and in what time period. There are 10 steps which need to be attended when a brand is expanding through franchise mode, let’s see below:
Steps to Franchise Your Business in India
1) Vision, Mission and Goals – It is important for the franchisor to understand and also create, a set vision for the brand. Vision of the brand refers to putting down the reason for the brand to exist and final goal for franchise. For example, the vision statement for a Burger and Pizza chain would be – to serve the best burgers and pizzas. At a global level and not only in the home country.
The mission for the brand would be how to take corrective steps to achieve the vision statement of the brand. There are short-term goals for a franchisor. i.e. setting up your own franchises in your locality, city. Regardless, in which the brand originated and later looking at expanding to other states and cities in India. The goals of the franchisor would be to understand the vision and mission of the brand and draft plan in order to work and achieve the mission and vision of the brand by expanding via franchise or setting up their own stores.
2) Business Franchise Registration – Once the brand is able to set the vision, mission and the goals for the brand and also has established a model in order to give franchise and work on the goals of the brand. The brand has to now look at registering the venture at a government body in order to get all the legal formalities done and also legal protection for the business.
Requisites of brand registration in India:
Brand name: Refers to having a unique name for the brand, which would be in sync with the products or services they are known for. Doing this will help the brand to be on a top of the mind. Also, this will create an identity in the industry.
Trade Mark: This refers to a recognizable sign, design, or expression, which identifies products or service and even the brand name of a particular company. This secures your identity from unethical use. Trademarks used to identify the services referred to as service marks. The trademark owner can be an individual, business organization or any legal entity. The other requisites are brand names, private limited vs proprietorship, domain registration, social media presence. Having a domain of the same name will do good for the brand, as it will be easy for anyone to recall the brand based on having a domain of the same name.
Social media presence is a must, according to the current marketing trends it is important to have an online presence. Now your initial steps are complete to register the brand. Next comes…
3) Prototype Development – Before expanding via the franchise mode, this is the most essential step. It is good to have an existing store which has been functioning for over a period of 12 – 24 months. Doing this will help the franchise consultant build a franchise plan as per the functionality, rules and workflow of the further franchises which would be let out. In case you don’t have a running outlet of your brand, then it is always advisable to first establish the outlet and monitor the functioning of it. This will help you in analyzing the performance of the brand and the improvements required.
4) India Franchise Business Plan – While designing the franchise plan, your brand should be franchise ready. The major segments to focus on while planning is – positioning the audience, defining the demographics and more. The business should be in a position to fulfil the demand of the customer as per the demographics of India.
5) Franchise Financial Model – As now you have defined your audiences and demographics, it’s crucial to set a financial plan for your franchising. Outline the financial projection which is beneficial for your business and the franchisees. Sketch the required investment for setting up a new outlet of your brand. Furthermore, calculating the return on investment, revenue generation, profits and other financial requisites.
6)Franchise Model: Basically, there are four different types of franchising models. This includes FOFO (Franchise Owned Franchise Operated), COCO (Company Owned Company Operated), FOCO (Franchise Owned Company Operated), COFO (Company Owned Franchise Operated). You can choose the most ideal model for your brand. The decision should be made while considering the financial plan, audiences and demographics.
7) Franchise Profiling– Franchise profiling refers to defining the roles and responsibilities of each franchisee and also making a mention of their task to be performed on a timely basis be it every day, fortnight etc. The franchisor should understand the skill sets required for the business and is it there in the franchisee too for them to handle the franchise and also run it successfully.
8) Franchise Marketing – It is important for the franchisor to understand which is the best platform to market their brand. Also understand, what marketing activities are to be done, in order to get a prospective lead for their franchise. Franchisors can make use of franchise portals, exhibitions, giving an ad in newspaper and franchise journals. The marketing budget should be predefined in order to understand the best use of marketing platforms to get the desired result in the franchisees.
9) Franchise Agreements – The franchise agreement is the most important document between the franchisor and the franchisee. Therefore, the franchisor should prepare franchise documents in such a way, which mentions an equal authority to both the parties of the franchise to handle the franchise independently.
10) Franchise Manual – The franchise manual refers to a document drafted by the franchisor for the franchisee to understand the functionalities of the franchise. It also should include the details related to the operations of the franchise. The manual will define the type of training provided to the franchisees; and the training details for the employees or staff appointed by the franchisees. This will guide the franchisees and their staff about the company ethics, business type and their roles and responsibilities.
11) Commitment – It refers to the fact that it is the franchisor commitment towards making the franchises function successfully. It is vice-versa as well. A consideration of both the parties is a must for the brand to establish itself successfully as well as sustain in the market, and standing strong against the test of times.
Understanding the intricacies of a franchisor and franchisee relationship is hard. The role of franchisee and franchisor is equally important to establish a brand successfully in the market and also run it with equal importance. With the above points, you can understand the importance of franchisor and franchisee in a franchise business. We at Sparkleminds with over 20+ years of experience and having worked with thousands of brands, we exactly know what would be the best for your brand, be it developing a franchise model, working out a franchise agreement, hiring and training of the workforce. We also provide support in developing a marketing manual, franchising profiling and a lot more.
I am sure you would be familiar with the term “Franchise Consultancy” but do you know what do they do. Well if you don’t know we can help you understand. A franchise consultancy is a platform where you can expand your business from present location to pan India level. This is where we pitch in and help you cater to the demand of your product/service via “Franchise mode”. Therefore, there are a lot of benefits of franchising your business in India.
Confusing? Well in simple words we help you expand your business via the franchise mode, where, we provide our expertise in building a sustainable franchise model, with pre-defined rules & regulations, procedures, business functionalities, and more. The entrepreneur(franchisee) will only have to abide by the mentioned franchise manual.
What does Franchise Consultancy Include?
There are 4 main points of the consultancy namely:
Strategy Development: At Sparkleminds, we develop a strategy that will help you boost your business multi-folds and start franchising soon. Our experts study a business already existing which is similar to you or we build a prototype with the help or R&D team and study the same.
Franchise your business: Once the study has been conducted, we now plunge into actually developing your franchise model and creating your franchise brand.
Merits and Demerits of franchising: When the franchise model is developed, we help you understand the aspect of franchising and how its pros and cons, based on your business.
Franchise FAQ’s: Developing an FAQ is important as a franchisor will be able to learn what could be the possible flaws in the business and how the brand can overcome these flaws.
Going Global from Local
There are businesses that have established successfully in the country, created a brand and a local market for their business. But, now what? This is the perfect time for a business to now explore international waters and cater to different but a similar product or service demand at a foreign land. At Sparkleminds we are in constant touch with businesses that are unique and have made a market for themselves, we help them build their brand at foreign markets.
Franchising Your Business
A brand needs to understand if his/her business is really capable to expand by giving out franchisees to interested entrepreneurs. There are a few things that need to be kept in mind while looking at franchising your business. Are expansion strategy, legal docs, marketing materials and more. Sparkleminds have has worked with a large number of brands and set up the best franchise model for their business. We serve to new businesses, as well as to established ventures as well.
Stages to Franchise a Business
A franchise is a lucrative form of expansion, but it is not an easy task to do the same. There are a few steps which needs to be looked at while franchising your business, the steps are as follows:
Can your business be replicated?
How good is your business concept?
Are your financials stable?
Is there any other alternative for your business? and more.
Understanding the Legality of Franchising
Franchising a business is not as easy as it looks. There are a lot of legal undertakings to abide by. It is hard to clear local hindrances to a franchise than getting permission from than the national ones.
Once documents submitted, the business is to be presented as a franchise to the authorities. A brand can start franchising when it is completely ready to be franchised. It will take the authorities some time you get back to you with required changes.
Publicize your Franchise
The main reason to franchise business is for the public to know about your distinctive service. It is necessary for the franchisor to make use of advertising platforms and notify the public about your product/services. You can also invite them to take up a franchise of your business in case they wish to start same. There are a lot more benefits of franchising you business.
Time Span required to Franchise your Business
Franchising a business does consume a lot of time. There are a lot of formalities that have to be done before the business can actually start giving out franchises. Franchising has to be done at the right time. Doing this will help you understanf the benefits of franshising your business. This calls for expert advice to understand the best time to franchise your business. Also, understand the procedure and rules to be followed.
It would ideally take you 3-12 months to start franchising after building the perfect franchise development program. At Sparkleminds we can help with cutting down the time to a large extent without compromising with the quality of the service.
Price of Franchising a Venture
“Cost” of starting a franchise is one of the main points, which arises out of any entrepreneur or business owner when thinking of franchising their business. A franchisor should understand that franchising is not as easy as it sounds. There are many intricacies to be followed while building a feasible franchise model to sustain the test of times. The franchise model built should be adaptable as per the changing business dynamics.
Franchising is a good form of expanding any business in the country and overseas. But it is equally tough to build a sustainable, precise franchise model for the same. Brands that are looking at franchising have to do a thorough study on if they can really franchise and do, they have all the required resources to start franchising.
The cost of franchising would ideally cost you in thousands in the initial stage and go up a few lakhs for a full-fledged franchise service. A few of the inclusive of a franchise program include – general manuals, training manuals, marketing services, franchise recruitments etc.
Where and How to Start Franchising?
It is important to know where and how to start franchising. A business owner should once pay a visit to franchise consultants and have detailed discussion. Doing this will help them understand the right way to start franchising and what would be the right location to a franchise. Franchisors should visit Sparkleminds and fill in their franchise expansion form and also take up their franchise quiz, by doing this they will be able to understand better if their brand is ready to franchise or they will have to work towards it for a longer period.
Franchising your Business Concepts
An established entrepreneur often wishes to expand his/her business, either by setting it on their own or by providing franchise. While taking the franchise route the franchisor comes across a lot of doubts. A few of them could be, how good is my idea, what if someone copies it before I start, will franchising my idea work? Etc.
At this juncture, Sparkleminds will be of your help. We previously have had a lot of client meetings where they have discussed potential ideas with us and we have helped them understand if they are franchisable or it needs more work. If your business franchisable.
It is suggested to start franchising if your business sync with the below mentioned points:
Unique: Is your business different and unique enough to expand domestically and internationally as well.
Profitability: Is it different enough to rake in enough profits to keep the franchise alive and running.
Systematized: There has to be a systematic line of a function of the brand, so as to include it in a manual, which could be issued as and when you expand.
Training: The training should be easy and perfect enough for the duties they will be undertaking.
Excellent Margin: The brand should generate enough margins to keep the brand exciting and remembered.
Affordable: The franchise should not be expensive, due to the fact being if it is expensive only a few would be able to afford it. This will reduce your count on a number of franchises owned. India is a price sensitive market and having a franchise of more than 50Lakh may not have many takers. Ideally, a franchise should range from 5 – 50 Lakh ₹. There is a high number of entrepreneurs who can invest in franchises in this limit, which will, in turn, make your brand popular and worth exploring franchises in any location.
Franchise Your Big Business in India
Your brand should start franchising when it has a great market, set business model, customer base and brand popularity. The best way to understand if your business is franchise-able is to visit franchise consultants in India. Having a detailed discussion with them will give you insights into your brand can be franchised.
Alternatively, if you wish to do a self-assessment of your brand with respect to franchising, you can take up a franchise quiz of Sparkleminds. At the end of the quiz, you will receive a score and this will give you insights on if your business is franchise ready. If the score is positive then the team of experts at Sparkleminds will have a workshop done with you to understand your business. The workshop will include developing franchise module, administrative guidelines, marketing strategies and more.
Edifice a Franchise Brand
Franchising is not as easy as it sounds, it takes a lot of brainstorming and hours of discussion to come to conclusions. There are a lot of things that go into building a franchise. There are a lot of brands that have used the franchise mode of expansion but were not able to stand the test of times. This could be due to not having a good franchise model, marketing was not in place and could be many more.
A few points to note, while looking at expanding via franchise are:
Does your venture have a set business model?
Is your business generating good profits?
Do you have a set/established customer base?
Do you have the required financials to expand? And more.
There are a lot more intricacies to make note of while franchising your business. To understand all this, it calls for expert advice. Sparkleminds is the most sort after franchise consultants in the country you will be interested to visit.
With experts at Sparkleminds, we will help your business grow exponentially to greater heights by means of a franchise. We will help you build a feasible franchise model, marketing strategy, financials, legal documentation and more. We will also help you understand how you can build a franchise brand to fund its own franchising growth.
With the help of our experts, we can help you comprehend how much does it cost to franchise your business or what it takes on how to start a franchise business. It is a hard task to answer should I franchise my business? we at Sparkleminds can help with this.
Visit us and we will be delighted to serve you with the best of our services for your growth!
When a franchisor is looking at franchising in India, the franchisor should have a blueprint in terms of expansion plans in the number of cities, which franchise model they would be adopting and expanding with. Before expanding in India, Ministry of Corporate Affairs is the platform a franchisor should visit.
So, if you are a foreign brand, who wants to expand business in India. You should visit the Franchise brokers in India. This will help you to understand the nuances of franchising in India and how to set it up.
The legal bindings to make note of is taxation policy according to the state, city, region the brand wishes to franchise. Exploring currency risks as they would be dealing with the currency of their home country. The franchise legal framework in India is directed by laws under Indian Contract Act 1872, Transfer of Property Act 1882, Foreign Exchange Management Act 1999 and more. Before you start a franchise in India visit these institutes.
Franchise Intellectual Property
Businesses expanding into a newer location in the home country or foreign lands has to be certain about few things. A franchise intellectual property has trademarks, design logo, trade secrets of the brand for a brand identity.
An entrepreneur must understand the two types of franchised business which is as follow:
Product & Trade name franchising, here the franchisee is given permission to use the trade name and trademark in order to sell the franchisor’s products or service or both
Business Format Franchising, franchisor permits the usage of tradename, trademark, trade secrets, functionality and more to the franchisee.
Franchising Consulting Strategy Framework
It is tough for an entrepreneur to franchise since a lot of things are to be considered when franchising. There is a need to develop a commercial strategy for the business and look into legal framework for the business.
The two types of framework are used while developing your franchise business is – Strategic and Operational Support. In the operational support the recommended changes will help the brand in the long run, while looking at different geographies of India. Franchise experts will also give operational tips on the small functions of the office, this includes finance, human resources, procurement and more.
With above given brief details a franchisor regardless of the origin of the brand can understand franchise procedure in India. Also, what are the legal institutions that guide your franchise in India in terms of rules, regulations and more. This calls for an expert when it comes to franchise registration in India and understanding of franchising intellectual property etc. We provide guidance in registration of franchise agreement in India and help you understand steps in franchise registration in India.
At Sparkleminds we conduct a detailed study on the brand and provide consultancy services as per the business functions. The main challenge for us is to understand dynamics of the market and develop a business model on those lines. Therefore, our research is based on primary as well as secondary sources.
We always look at providing the best service when it comes to franchising!
Franchising as a successful form of expansion is not only popular in India but is also accepted worldwide. Franchising has created a lot of success stories, which in turn have inspired others to make the best use of these services.
A few of the factors that build successful franchising are:
An opportunity of a franchise model for home-grown and global expansion
Careful location analysis either regional or global
Swift flexibility to the market changes
Review and make changes to the disclosure documents
Engaging the right franchise partner
Adaptable and Flexible Franchise Culture
There is a plethora of reason as to why franchise is one of the most suitable forms of expansion and how it can be successful for both the parties. Franchising comes with a benefit of cost friendly for the business owner. You can start multiple outlets of your business at once with minimal investment. Also, franchising is an effective method of expansion at all the stages of your business growth. Whether it’s a start-up or have built a huge empire, the moment you decide to franchise, that’s your best time to start. In case, you are not aware of all the documentation, legalities, and requirements other requirements for franchising; it’s always advisable to consult a franchise consultant.
Franchising Vital Success Factor
A lot of things play a vital role when it comes to understanding the potential of franchising their business. How to create a successful franchise? we could help them, tap the untapped markets. With our expertise we give them insights on which kind of expansion model would do good for the business. A few of them are mentioned below:
Retention of Customers: It is important to provide the best service to your customer when they visit you for the primary time. It is important that they are happy with your services. Hence, they will return back and also recommend your services to other, it is like a chain. Having a set customer base is really important for any business to function well and establish successfully.
Market Consolidation: The business has a lot more chances to succeed if the franchise model is built in lines of market growth and dynamics. The market has to be studied on a regular basis and change accordingly. The franchisee should work in the lines of the franchisor which will incline both of the parties according to the market acceptability.
Expertise in Handling Franchise System: The franchisor will be able to provide more and in-depth knowledge on the business, industry and franchise techniques as well. This will help both the parties i.e. franchisee and the franchised business at large.
Building a Strong Franchise Brand: Brand building is an important attribute for a business. Having a brand strategy provides control over the competitors. A few of the things that matter are a brand logo, website, packaging, and other material of promotion.
Control over your Inventory: Having control over your inventory plays a major role as having the right amount of inventory at the appropriate time will do good for the business in the eye of those who use your products or services.
Franchise Prototype Development
It is said that in every 15 minutes there is a new franchise business opened on every business day.
Every franchise business established on a daily basis are facing huge competition, so here’s a criterion to follow for developing a good franchise model:
The franchise fee and royalty percentage
Franchise Agreement Term
The extent of a territory you will award each franchisee
The training program solely defined in terms of type and duration
Buying equipment’s and products for the company should be done by the franchisee?
What are the required business experience and net worth of a franchisee?
Marketing strategies for the franchises.
Deciding whether the business needs an areas-based operator or a master-franchisees who in-turn will develop multiple units.
Therefore, developing a franchise business model has a lot of pros for the business seller as well as the buyer. With a franchise model, the franchisor is able to expand the business. This is implemented with the entrepreneur’s money, which would be tough to do when their own money is involved. Moreover, this will give the business a boost as you will be able to expand at a faster scale then pooling in your own resources. The franchisor, in turn, will collect franchise fee and royalty which will again go in helping the franchisee by providing the required training, machinery and more.
The relationship of a franchisor and a franchisee is like a parent and a child. Things to be kept in mind while building a franchise model for them are as follows:
There has to be a clear vision and objectives to be shared.
There has to be professionalism to be shared.
Focusing on support functionalities.
Clear communication between the parties
Advertising and Marketing System
Having a great training program
Having clear growth and development plan for franchises
Treating franchisees with due importance
Complete support to be provided to franchisees
Standardized policies, having no impartiality
The very next process is to understand, what are the facets which keep the relationship between the franchisor and the franchisee going strong for a longer time. A few of the pointers are:
Money: Is the most important factor keeping both the parties’ function on the same line. When profits and goals met, they seem to be in a happy place.
Control: Control over the business and personal lives is always a craving for a franchisor and a franchisee. Thus, when authority is given, contributing not only to the business but society is also given
Self-Respect: This plays a critical part in a franchise relation, one has to understand that both i.e. the franchisor and the franchisee have to respect each other while living and working with coexistence.
Enjoyment: Enjoying what you do is one of the best ways to work as well as progress with the work. Therefore, it is necessary for the franchisor to create a franchise model which a franchisee would enjoy to work with. It is also ouns on the franchisor to carefully sort out franchise applications and select only those who have a passion similar to you. Also, the ones who would love working with you and meeting the commons goals of the franchise business.
Recognition: Recognitions plays an important part when it comes to doing any business. Hence, taking up a known/popular franchise business. Have a recognition of what you do is something naturally craved. Therefore, having recognition policies will do great for the franchisee and the business on a whole.
Thus, we at Sparkleminds lay great emphasis on having a strong relationship between the franchisor and the franchisee and also ensure that both the parts are in-sink with the goals of the franchise business.
A franchisee will always do his/her initial research on companies that they want to take a franchise. The business seekers always search for the success stories, number of franchises, success rate, ROI and more. The other form of enlightening themselves is through visiting franchise expo’s, reading franchise-based materials i.e. magazines, brochure etc.
The Indian market has turned out to be very competitive for local brands, as there are a lot of international brands that are setting foot in India. Hence, this is giving a tough competition to local brands. The best way to understand the answer of, how successful a franchise business is? This start with visiting their website and understand the vision and mission statements and also review existing franchisees.
At Sparkleminds we have assisted more then 500+ companies establish their base via the franchise model in the country and built successfull franchise for them. Cherish Maternity, a maternity clothing brand which caters to its customer through online portals and offline stores, we have developed a franchise model for them from scratch. Which includes developed marketing and other promotional strategies for them. One of the other popular brands we have worked with is Shemford a big player in the playschool industry. Likewise, we have worked with a plethora of companies and established franchise models for them from the initial stage and also assisted with recruitment of Master Franchises.
Wondering how to make a franchise or what are the good characteristics of a good franchise? then we at Sparkleminds can help you! Understanding the nuances of how to build a successful franchise business, setting up franchise or franchise guidelines to follow. In order to setup a perfect franchise model for the franchisee to abide by.
You might be aware of the term “Franchise” or “Franchising”. So ever wondered how to become a franchisor and expand your business across the world? Yes? then you would be glad to know, business owners tend to adopt a franchise model than starting company-owned outlets.
Hence, your business has to set a milestone and understand from where you could start expanding. Because when you decide to expand, it can cost you a lot and being a startup, it becomes hard. Thus, the franchising model comes into the picture. If you opt for franchising; your major part would be to design a franchising model for the business. Once the model is ready, you are good to start with the expansion of business in the desired demographics.
Sounds easy? But this takes a lot of research about the territory, market demands, cost calculations and more of brainstorming. Furthermore, the biggest task is to find the appropriate business seekers as a franchisee. Therefore, the team of Sparkleminds comes in picture. We not only help you in designing the franchise model but also help you choose the most suitable one.
Should I Franchise my Firm?
Pondering upon should I franchise my business is common among business owners, regardless of the age of the business. The best way to upgrade your knowledge on this is- reading on topics or a discussion with a professional in this field. Sparkleminds has over 2 decades of experience in this industry. We provide complete support to growing/established entrepreneurs to learn about how useful it is to expand via franchise.
Is it the Right Time to Franchise your Business?
An entrepreneur must understand the right time to franchise one’s business. It is always great to start looking at franchising your business. Start the process only when your products or services have been accepted by the public, the market. Moreover, the target audience is well defined and generating revenue for at least a year. There are a few products and services which are hard to franchise, but with our expertise, they are also franchise-able.
One of the biggest dreams of an entrepreneur is to establish his/her business in every city across the world. It takes time and effort to reach that stage, in the industry you serve. There are a few points that need to be kept in mind before you start franchising your business:
Do you have a Set Business Model?
Do you have you the investment and Documentation in place
Is your brand marketable and Ready to be Adopted?
Is Your Business Franchise Ready?
There are 10,000 + companies in India that have used a franchise model for them for expansion. There are also close to 5000+ companies which are going to join the bandwagon in the next 12-24 months with this, the market is at a pedestal to offer a variety of franchise opportunities to the entrepreneurs to start a business.
Franchising is the most preferred ways to expand business in their home country and countries across the globe. Business expansion via the franchise mode has proven to be successful and effective, for large companies as well. Big brands have believed franchising as a successful means to expand base be it a mid-size or a small company
So, now you know the potential of franchising and what it can do to help you expand your business. Let’s start with the evaluation check of your business. You could also take the franchise quiz at Sparkleminds to get a score of where your business stands currently and whether you are really ready to start franchising.
Requirements to start a franchise
There are a few criteria’s that need to be in place before one looks at franchising their business.
The first part is to have demonstrable success in place. You will need to have a few outlets, at least a couple, that are already profitable and have been running successfully for at least 12 months. This creates the base for the franchisor to learn and adapt to the customer requirements. In case the franchisor wishes to have the first outlets through franchises, then they may need to invest additionally from their end in the first couple of franchises until they have cracked the success formula and have at least one year of profitability in place for every individual outlet that is operating.
Legal Identity – It means that if you are selling a product or a service it is required to have a trademark/ service mark for the same.
Business Prospective – The business venture should be set up on long term goals and should be in a position to sustain for the next decade or more. The more unique your business, the better it will be Franchisable.
Franchisee Guidance – The business model of the venture must be easily explainable or teachable to the franchisee. The franchisor should be well-versed with the intricacies of the business, and should be in a position to give all the required training to all its franchisee and educate them on running the business successfully. The, required skill-sets for the franchise to function effectively should be taught to every franchisee owner and the skills should not be limited to the original franchise owner.
Resource Provision – The Franchisor should be able to provide brief information about the business along with the costs that could be incurred while setting up the franchisee. It is a must for a franchisor to abide by the protocols of the franchise business. Once the business is performing good, the franchisor can collate the operations and prepare a manual for further use.
Team Managing – The franchisor should be able to hand costs of the new franchisee and also train & educate them on spending the right amount of money to pay salaries or recruitment of employees etc.
How to become a franchisor
The process of expanding business starts when you have successfully established your first outlet and have a huge database of happy and satisfied customers. This is when you should look for other locations, markets and (or) cities for expansion. While making the plan, conduct the research about your requirements and the optimum locations for reaching out to the right customers.
Since India is well-diversified there are high chances of the products or the service to be accepted in other cities and expanding the market base. There are a lot of ways to expand your business in India i.e. Joint Venture with existing businesses, own stores or franchising to interested franchisor.
The most preferred method of expansion is by reaching out to the franchise consultants. So, if you want to contact one of India’s most experienced consultants then Sparkleminds would be the ideal platform for you. The Franchise Consultants at Sparkleminds can help you understand the potential of your brand, and also provide valuable insights on how to franchise your business and make the franchising process easy for you. We have been in the industry for over 20+ years and have worked with a plethora of brands. At Sparkleminds we have understood that every brand is unique and need a customized franchise strategy, support for the same.