International Franchising: Mistakes To Avoid

Written by Sparkleminds
sparkleminds

Franchising is a great tool to expand in different markets. International expansion needs proper planning. Most franchisors avoid it as they see it as a costly affair. This is only because they lack clarity on how to solve the problem. They do not see the side of rapid growth that can be achieved with international expansion. International franchising has made many brands bigger than ever through international franchises.

A system for global improvement has to be done on an evaluation of franchisor assets and a cautious assessment of the business. There are several issues faced when it comes to how to franchise internationally. The mistake franchisors do is keeping the same strategy for every market. Take pricing for example. A product pricing model that works in India will not work the same in the European countries. This also applies to the franchise fees, royalty, and almost all aspects of a franchise development strategy. 

The franchisor has to do a feasibility study to ensure the expansion is worth the costs incurred. An ill-informed understanding of country direct and indirect competition can often lead to challenges in a successful global expansion. Charges should be set solely after assessing costs. Expenses of shutting an international business can be higher than opening a franchise in another country.

In the early stage of your international expansion strategy, it is important to engage the services of a reputed franchise attorney who knows local counsel in countries where you want to develop your system.

As soon you consider expanding overseas, you must ensure trademarks are set in the countries you want your business to grow. International franchise contracts must be done attentively. The international franchise agreement is much different from the franchise agreement used locally.

Strategize for your International franchise Growth

How ready are you?
Franchisors should have a profitable business model. Core competencies to provide all levels of support and the ability to replicate these attributes in other countries. Management has to provide support to the franchisees just as it supports domestic franchisees.

Is your staff well trained for international Franchising?

Structure on how are your internal resources going to support the expansion. How will they be able to support franchisees in other countries in each area of the business? If you should use your current or if you’re planning to hire local talent is a major concern. Will it also be meaning a higher impact on the cost structure for the expansion? This needs to be well planned in advance to engage the franchise in a better manner.

What are the current finances revealing?

Expansion is an expensive affair. Hence, if you are hardly able to make good in the local markets, create enough funds which do not affect your current operations and your expansion process.

Have you done market research properly?


When it comes to international franchising, there cannot be a standard solution for everything. Every market has to be carefully researched to understand the needs of the business, the target market, and the franchise partner.

Failure to understand culture is very important. Such an absence of clearness can be a significant issue for franchisors setting out on an international expansion.

For example, McDonald’s had to modify their system to adapt to the market in India, where beef is not a traditional food item.

Look at the general mistakes done by the franchisors:

  • Expanded in country without conducting proper research if there was potential market to begin with
  • They did not make an organization structure with the right ethos able of managing with diversifying
  • They don’t have an adequate track record in local market and had exceedingly immature working frameworks
  • Did not develop a well thought-out and developed franchise package
  • No competition advantage to maintain profits in the long term.
  • Fee levels set are too high which does not allow sufficient returns to the franchisee.
  • No clue on the support & logistics structure
  • No infrastructure design to help the franchisee. This may be in terms of CRM, IT monitoring, reporting procedures etc.

Expansion does not only mean getting your franchise manuals in different languages. Training and support also are equally important. This requires dedication from all of your management. Solidapprehension of what you do well, and a willingness to work cooperatively with your franchisee to adapt.

International franchise development has opened various entryways for independent companies hoping to uncover new streams of income. The international establishment can be one of the most thrilling things you can do to grow your business and stimulate your idea. While it tends to be costly, tedious and here and there baffling, it can likewise be exceptionally fulfilling. If you conclude international franchise expansion is ideal for you, partake in the excursion—and make certain to keep away from normal slip-ups that can wreck your franchise system.

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Statistics & Facts of India’s Textile And Apparel Industry

Written by Sparkleminds
sparkleminds

The textiles and apparel industry in India has a past filled with fine craftsmanship and worldwide allure. Cotton, silk, and denim from India are profoundly well known abroad, and with the upsurge in Indian design ability, Indian apparel also has found accomplishment across the fashion industries around the world. The direct linkage of India’s textile industry to horticulture (for raw materials like cotton) and the early culture and customs of the country as far as textiles make the Indian textiles industry stand out in contrast with the industries of different nations.

India is the world’s second-biggest exporter of textiles and apparel with an enormous raw material and assembling the base. India’s textile and clothing industry is a notable supporter of the economy, both as far as its domestic part and exports are concerned. It contributes around 7% to industry yield, 2% to the GDP and 15% to the nation’s complete export revenue. This sector is one of the biggest occupation makers in the nation, utilizing around 45 million individuals and 60 million individuals in united enterprises. India’s textile Industry is growing at a rapid pace. Jumping further, this report explains the current situation of the textiles and apparel industry in India and features the ways of taking advantage of India’s growth potential in this area.

Textile and Apparel Sector Snapshots

  • India is the largest producer of cotton.
  • 2nd largest producer of polyester and silk.
  • 3rd largest producer of viscose.
  • 4th largest producer of acrylic and nylon.
  • 5th largest exporter of textiles and apparel.
  • 8 centres of excellence set up to promote technical textiles.
  • Contributes to 7% of the country’s manufacturing production.
  • Contributes to 2.3% of the GDP.
  • Contributes to 13% of the country’s export revenues.

Export Highlights of Apparel and Garment Industry

  1. The export of apparel and clothing accessories weaved or stitched during April–July 2020 was US$ 1.32 billion and for July 2020, it was US$ 586.49 million. 
  2. The export articles of apparel and clothing accessories not weaved or stitched during April–July 2020 was US$ 1.27 billion and for July 2020, it was US$ 504.98 million. 
  3. Readymade garments of all textiles exported from India remained at US$ 12.27 billion from April 2020 to March 2021 and for the long stretch of March 2021, it was US$ 1.42 billion. 
  4. In April 2021, the export of Readymade garments of clothing remained at US$ 1.30 billion.
  5. Since India is the biggest cotton producer across the world. India’s general cotton creation production is360 lakh bales in FY21. 
  6. Complete worth of cotton yarn, fabrics and made-ups export from the nation remained at US$ 1.10 billion in March 2021. During April 2020-March 2021 the export remained at US$ 9.81billion. 
  7. In April 2021, the export of cotton yarn, textures and made-ups remained at US$ 1.06 billion. 
  8. Primary business markets for India’s textiles industry and apparel export are the USA, European Union, Portions of Asia and Center East.
  9. In the upcoming times, India’s apparel export is relied upon to grow significantly. The overall export of textiles and apparel are relied upon to reach US$ 82 billion by 2021 at a CAGR (Compound Annual Growth rate) of 12.06% from FY18.

Worldwide Rundown

The current worldwide apparel market size is near $ 1.9 Trn and is relied upon to increase to more than $ 2.6 Trn. Globally, the demand for apparel is assessed to grow at a Compound Annual Growth Rate (CAGR) of five per cent. Among the world’s main five business markets for apparel, India and China are expected to develop at a consistent CAGR of 12% and 10% individually, when contrasted with the worldwide total of five per cent throughout the following few years. China is broadly expected to turn into the biggest apparel consumer on the planet by 2025 with a market size worth $ 450 Bn, while India will leave Japan behind to take the fourth position on this rundown with expected market size of more than $ 160 Bn.

Domestic Rundown

India’s domestic textile industry and apparel market is worth more than $ 100 Bn starting at 2018-19 and is relied upon to increase at a CAGR of 12% to reach a size of $ 223 Bn by the end of 2021. Apparel demand in India presently remains at $ 78 Bn, overtaken by the domestic with a share near 74% of India’s overall textile and apparel market. Technical textiles, one of the fastest-growing sub-sections at a CAGR of 12% is likewise seeing a significant expansion in its market size in India.

Fashion Brands 

Brands like Benetton, Zodiac, Z3, Zara, Vero Moda, Calvin Klein, Diesel and Tommy Hilfiger experienced great sales growth in the nation, while names like Zara, Armani, Forever21 or Uniqlo appeal to the Indian crowds, drawing in higher per square foot deals when contrasted with the departmental or hypermarket stores. 

Then again, Indian organizations like the Arvind group, Madura Fashion and Lifestyle, Raymond Apparel, Trent Retail, Reliance Retail and Future Group have started with their fashion labels.

Some of the top Fashion brands that benefitted from franchising are:

  • Zara

Zara is a Spanish luxury clothing brand. The brand vows to look after design development, quality control, logistics, deals through stores, and internet-based shopping. Zara stores are by and large located at famous, higher business locations. Zara is one of the many successful businesses of today; a well-known brand that gathers a total number of 850++ stores worldwide and that is solely by franchising. Zaras’ decision of expanding the business by franchising made it one of the top apparel and clothing brands in the world

  • Biba

Biba is an ethnic wear Indian brand that is outstandingly popular among Indian customers and has a gigantic rundown of customers who are buyers of Biba. The organization is a perceived brand taking into account its stylish and classy women’s wear clothing. It has overall proximity and woman are truly comfortable with this brand. Biba offers a combination of things, for instance, salwar, sarees, Kurtis, lehenga sets, palazzo, dupatta, Anarkali, etc. Biba franchises today has expanded into many locations with around 275 stores across the country and all by franchising and reaching more and more customers.

  • Numero Uno

Numero Uno is known for its renowned denim items. Numero Uno is predominantly well known among the youth population with their denim stuff and cool tees. Numero Uno began by simply manufacturing jeans for men and gradually moved into jeans for ladies, at last planning and assembling complete wardrobes for both men and women. The organization has been presenting in vogue and inventive themes each season to take into account changing preferences and ways of life. The Gurugram-based denim brand was started in 1987 by Narinder Singh Dhingra. Today, it has over 260 stand-alone stores in India and all via franchising the brand. Franchising helped the brand in reaching out to new locations and attract more customers.

  • Rupa Garments

Rupa is the best-woven innerwear brand in the country. It produces around 7 lakh bits of finished products consistently. The company manufactures almost the entire range of knitted garments from innerwear to casual wear. Rupa garments of clothing have advanced to turn into the leading brand in the innerwear segment in India and the main player in worldwide business sectors with broad impressions and a huge number of fulfilled clients by expanding itself via franchising. At present, it has a pan-India presence through a distribution network of 125,000 retailers, more than 1,200 wholesale dealers and over 300 sales and marketing professionals.

  • Jockey India

Jockey is a famous innerwear brand in the country, be it for women or men. As it is a trustworthy brand, its product sells quite easily. Established in the year 1876, Jockey is considered to be one of the go-to labels for undergarments across the globe, especially in India. In today’s date, jockey store is in every part of the country and that is possible through franchising, they chose franchising as their expanding strategy to increase the reach of the brand by opening stores in new locations.

Not only these but there are plenty of big fashion brands doing well in their path and still expanding their business via franchising.

Status of Online Fashion Industry

Setting new benchmarks in the online business mode during the pandemic, the web-based Fashion industry in India kept on exhibiting an overall 51% growth in FY21 and 66% growth on different brands. The brand sites have announced a 66% order volume increase and 77% GMV growth in FY-2021 when contrasted with the past monetary year. The strong order volume increase upheld with higher GMV increase has prompted a 6% expansion in avg order value. When contrasted with sites, marketplaces have announced a 45% order volume increase and 33% GMV increase, with an 8% decrease in the avg order value for FY-2021.

For all the business expansion seekers who are waiting for that one opening, the apparel and textile industry is the one for you. India’s textile industry has been giving promising revenues and is a great sector to expand in the coming times.

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How To Build Your International Franchise Business Management

Written by Sparkleminds

International franchise development is a safe and supported technique of business expansion. Growing a business internationally through franchising involves certain elements of what is needed to set up a network in a different country. Franchising techniques needs to be paired with the correct local positioning of the franchise proposition and the identification of the most franchisee. The new program is developed and the company goes through an evolution process wherein they start doing business abroad. This is why international franchise business management is crucial.

Taking the franchising option as a route to develop a franchise system in international markets should not be viewed as a quick and easy option. It is doable but requires strategic planning based on knowledge, expertise, sufficient resources. International franchising can lead to speedier expansion, a more self-motivated local sales force who understand local issues better, better organization and systems, and more control of front-line sales, marketing, management and delivery processes.

There are many companies large or small, who believe they know how to run their businesses well, domestically or in a few markets, that they will be able to successfully franchise the business in all international markets equally well. These assumptions should be put aside at the very beginning.

International franchising requires careful and cohesive strategic planning, management and execution, the commitment of all the respective discipline heads to the franchise operation as a franchisor. There should be no comprised with the quick wave of a magic wand or a half-hearted modification of the domestic business model. As regrettably, some consultants may lead potential franchisors to believe! International franchise expansion can be an extremely lucrative strategy for those who meet the necessary prerequisites to last the journey.

Few fundamental preparatory steps a potential international franchisor should take to ensure it has a sound international development strategy.

Some of the key points of considerations are highlighted as a starting point, each of which needs to be carefully and comprehensively analyzed, ideally with experienced advisors who have the international and local long-standing franchise perspective.

Once a realistic assessment of domestic operation has been conducted and the potential franchisor is reasonably certain that it has the necessary resources, stamina and focus to enter the international franchise arena, it should:

  • Recognize the appropriate markets
  • Conduct market research and SWOT analysis
  • Find a suitable franchise route to each market
  • Finalize the franchise proposition

Country analysis plays an important role. A strong business plan must covey all the possible details of the franchise.

  • Potential of the business and market
  • A thorough estimate of the competitive analysis
  • Franchise training & support
  • Reporting format and provisions of support to the franchisee
  • Financial models for the franchisee
  • Determine detailed tasks and time frames
  • Entry into the selected international markets and the impact of franchising your brand

Many franchisors, particularly at the initial stages of their international development select their ‘priority’ destinations by reacting to one or several ad hoc enquiries from overseas markets. Assessing the true viability of expansion into those markets, based on an effective and well-planned business development strategy creates the bridge of franchise success.

When not planned properly, it leads to the selection of the wrong franchisee, an inappropriate franchise entry method, reactive franchise support, offer of too big a territory or not large enough of a territory, and over or undercharging
fees. Clear and relevant sets of assessment criteria should be considered to select the future overseas markets.

The criteria should cover:

  • Size of the market
  • Government policies – possible state/private funding for regional franchise developers
  • Local legislation affecting production and retailing of your products or provision of your services
  • Demographics, working population, age profiling and geographical concentration
  • Ease of doing business
  • Likelihood of generating returns in the first few years of franchising
  • Franchisees’ capabilities to recruit and train staff and availability of sufficient local appropriate manpower to support the franchise offer

International franchising is an efficient way of expanding your business overseas. Finalize your franchise business plan. Take the steps required to ensure the international markets, local franchisees are well in tune with the proposition of the business offering. Create a powerful international franchise business management with a help of a franchise consultant if you are not able to do all the groundwork required. This will both save time and energy and get the best for your international business expansion.

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Significance Of Franchise Training Program For Your Business Expansion

Written by Sparkleminds
Sparakleminds

A franchise training program is one of the fundamental reasons why your franchise business will succeed in different markets with numerous franchisees. It’s all there – product and service information, operations details, marketing, accounting procedures – everything you need to operate a business. As a franchisor, you know how the system works, you’ve refined it and can offer that valuable knowledge to a new operator.

The training is most likely going to begin with the franchise operations manual. This tool will lay out the operations standards expected of you as the franchisor. It’s a critical tool for development and operations that you’ll want by your side when you first open your doors and as you grow your franchise business. The operations manual is a good starting point and template for more intense and hands-on training that’s to come.

If you’re actively looking to expand your franchise, you probably have a lot of questions going through your head. Like:

  • How much time and money should I need to invest?
  • What franchisees profile should I look into?
  • How long will it take to for my brand develop in different markets?

Without a doubt, those are all good questions to ask. Everyone looking to franchise asks them.

But what about the questions that aren’t top of mind?
Like, how am I going to ensure everything on how my franchisees will be operating my franchise business?

There are two ways for you to teach how to own and operate your franchise business.

1. Formal training by the franchisor.

2. On the job training.

Your job as the “FRANCHISOR” is to ensure your franchisees can replicate and operate your franchise business successfully. And a few weeks into the franchising your business, no doubt they’ll get the feel of it.

Once you’ve received your franchise fee and have signed your franchise agreement, several other things occur. There are other things that will happen once you’re officially a franchisor, but for the purpose of this article, let’s stick with the training.

Odds are you’ll have to get franchisees to travel to headquarters to get trained on various aspects of your franchise business. Thanks to technology, few franchisors now include online training. In most cases, the online portion occurs well before the travel to headquarters for in-person training. It’s known as pre-training, and it’s becoming more popular—especially given recent events.

As a matter of fact, most franchisees like this type of training a lot. In addition, they all feel it helps them feel way more prepared for their in-person training at headquarters. In a perfect world, you train on everything you need to know about operating your franchise business. In reality, typical franchise training programs come pretty close to that ideal.

One of the backbones of a strong franchise organization is training and support for franchisees. Here are some of the things you’ll teach about during franchise training:

  • Organized and detailed information about the products and services of your brand
  • Assistance in financial management, site selection, and real estate
  • Help with building design, leases, and permits
  • Some basic training on how to hire and manage employees
  • Explanation of all marketing and co-op advertising initiatives
  • Implementation of computer and accounting systems
  • Details on how to procure inventory, equipment, and supplies
  • Internal IT system management
  • Employee management
  • Payroll management
  • Working with vendors
  • Customer acquisition&Customer retention

Yes, This Can be Overwhelming

All new franchisors feel overwhelmed at some time before they open their businesses. It’s completely normal. That’s because if you’re leaving your business in others hands. But isn’t the “not knowing how to expand a business” one of the major reasons you went down the franchise path, to begin with?

Always include questions about franchise training. Ask them how well prepared they felt when they took the franchise training program.

There’s more to training than learning how to get your business open& running. When the franchise launches a new product/service, you, as a franchisor, will need to teach in regard to the same. In addition, with technology seemingly always being updated, and in some cases, changed, you’ll need to be trained on those changes.

You won’t need to train from the headquarters on new items. Instead, your franchisee training program will take place online in a group setting. Sometimes, this additional training is held at a regional location near to where you are located, or a trainer from corporate may be sent to your location.

Finally, if you ever feel you need to give a refresher course on some of the topics/operations, schedule a training program semi-annually/quarterly to update your franchisees. It is important for the franchisee to understand and the training given to them, as this will help them adopt and adapt to the business smoothly. We at Sparkleminds with over 20+ years of experience have developed some really complex franchise training program manuals for our clients and it has helped them immensely to establish fruitful franchises.

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Franchise Your At Home Health Care Services In India

Written by Sparkleminds

The Indian home healthcare services market sized $5 billion in 2019 is expected to grow four times to $20 billion by 2027. The ongoing pandemic has shifted healthcare in many ways. There has been a continuous need throughout the country to implement immediate and accessible healthcare solutions. Digital solutions/ Virtual Health has been a game-changer as we saw advances in the reach and speed of service delivery. Did you know home health care in India industry is the fastest growing industry in the franchise business? It has seen 3.5X growth in the past two months.

The pandemic triggered the “stay at home” message meant that the healthcare fraternity had to find new ways to deliver healthcare services. All this led to the rise and growth of telemedicine and home healthcare services in India.

The need for services that are accessible anytime, anywhere which includes 24/7 digital access to primary care physicians and specialists, reduced ER visits- remote care from your own home while avoiding the waiting room and less time spent away from work or school, less transportation.

The new normal is that demand for remote / home health solutions ranging from telemedicine, home lab, home pharma and home health monitoring are at an all-time high. The tendency to avoid a hospital visit unless it is mandatory is very high making home health almost an obvious need.

Trends showing current market dynamics:

  • Tele consult platforms saw 500% jump in transaction volumes
  • More than 60% of users consuming remote post COVID-19 were first time users
  • Consumer pattern changes have driven pure play healthcare players to either introduce or strengthen up their home services portfolio
  • Large number hospitals are considering home health as a strategic play in near 6-18 months’ time.

Some of the key players operating in the Indian home healthcare market are:

  • Portea Medical
  • Apollo Homecare
  • Nightingales Home Health Services
  • India Home Health Care (IHHC)
  • Healthcare atHOME
  • Bharath Home Medicare
  • Care24

The range of home health care services a patient can receive at home is limitless. At-home care services may include:

Doctor care: A doctor may visit a patient at home to diagnose and treat the illness(es). He or she may also periodically review the home health care needs.

Nursing care: The most common form of home health care is some type of nursing care depending on the person’s needs. Nursing care may include wound dressing, IV therapy, administering medication, monitoring the general health of the patient, pain control, and other health support.

Medical social services: Medical social workers provide various services to the patient, including counselling and locating community resources to help the patient in his or her recovery. Some social workers are also the patient’s case manager–if the patient’s medical condition is very complex and requires the coordination of many services.

Laboratory and X-ray imaging: Certain laboratory tests, such as blood and urine tests, can be performed in the comfort of the patient’s home. In addition, portable X-ray machines allow lab technicians to perform this service at home.

Pharmaceutical services: Medicine and medical equipment can be delivered at home. If the patient needs it, training can be provided on how to take medicines or use the equipment, including intravenous therapy.

Franchises have big advantages in home healthcare services. Franchises provide the opportunity for business ownership and a level of independence alongside an established company with a proven record of success, and oftentimes a well-recognized brand name. Individuals will be more likely to see a higher probability of success through franchising than starting an independent business for a variety of factors, including:

  • Shorter opening period
  • Initial training and development support
  • Established supply chain
  • Use of a systemized business model
  • Marketing and advertising support
  • A network of peers to rely on for advice, mentoring and best practices

The franchise model allows entrepreneurs to go into business for themselves, but not by themselves. In addition, many entrepreneurs find that joining a trusted and recognized network also provides their consumers with the comfort of purchasing items or services they are familiar with and working with names they know and trust. With healthcare services peaking at the current time and looking forward towards growth

Way forward for franchising home healthcare services in India

In this fast-evolving time post-COVID-19, we have seen a tremendous expansion of the portfolio of services of almost all companies. Over time, we will see any service that doesn’t need a hospital bed to be occupied will be delivered out of homes. Our data shows that during COVID-19 new services like a pediatric vaccine, flu vaccine, periodic health monitoring check-ups all received a boost on the home services model.

  • Home healthcare, along with remote monitoring and tele-health technologies, has a critical role to play in out-of-hospital care delivery.
  • The pandemic has clearly proven itself as a health care innovation catalyst, reinforcing the benefits and growth potential of the home health care industry
  • Considering the poor doctor to patient ratio (1:1500) and even worse patient to hospital bed ratio, such developments are good for the industry, and we need to continue to build on such delivery models that are non-hospital based.

Home health care in India has great potential from all aspects of the business. With the limited healthcare infrastructure and resources, home healthcare will help to address a portion of the present healthcare requirement. From changing payment models and new policy levers to increased use and adoption of technology in the space, the momentum over the past few months is promising, and it will be worth it if sectors across continue to invest in technology for the home which will be really accelerating growth across the spectrum.

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Franchise Expansion Strategies For Your Business

Written by Sparkleminds
Franchise Expansion : Sparkleminds

Looking out for ways to expand your franchise business? As a franchise owner, you get to reap the benefits of accumulated knowledge. Although you would’ve undoubtedly made mistakes along the way, you must have also learned from them. This ability to grow a successful business based on the lessons of earlier is what makes franchises so enticing for business. If you really want to capitalize on this opportunity, here are ways you can take your franchise business to the next level. However, Franchise Expansion Strategies does not come naturally to everyone. Hence, this article will help guide to few easy methods to expand. Here’s how to expand your franchise business!

Award Top-Performing Franchisees

Many franchisors award their top-performing franchisees. By doing so, you’ll have a good shot at finding high achievers. This will help in developing healthy competition among the franchisees themselves. Also gives them pride and recognition on a bigger scale.

Add More Units

Some of the most resoundingly successful encourage multi-unit franchise owners. Your business already has a proven system of duplication that allowed them to help franchise owners build businesses from one end of the country to the other. Why not emulate it on a smaller scale to create your own empire?

Most franchisors insist that franchisees be successful with one unit before they’re allowed to open additional ones. However, there’s no reason you can’t expand after you spot credentials in a particular franchisee who meets the requirement. Offer incentives to franchisees who want to add more units to their businesses, because they’re already up and running and only need minimal training and support.

Provide more support & resources to Grow

Your franchisees will help you grow if you help them grow. Providing constant support and franchise training will help your franchisees to work in an efficient manner. As you help your franchisees supercharge their success, they may recognize your initiative and provide you with better performance leading to the ultimate growth of your own business.

Notice star performers and leaders

As you grow your franchise business, it becomes hard to maintain a record of each and every franchise individually. Find leaders and give them opportunities within the organization. A star franchisee can take over a master franchise in a particular State/area/region if they have the potential and managing capacity. Franchisees can help you to establish business within the locality/community.

Have a Two-way communication

Facilitate communication and participation between the corporate team and the franchisees. By participating, you’ll get a voice and even better, understand the glitches of your franchise system at the ground level. Take this as an opportunity to influence company direction. These efforts have immense potential to positively affect your business.

Optimize your Finance Strategy

Any business owner will tell you that growing costs money. That’s simply the nature of the game. The good news is that there are ways to use financing strategically as you expand your franchise business. Have a good accountant who can guide you through the financials. This helps in the long run. Many think they got this covered and do turn a blind eye. Always supervise and see that the franchisees also maintain the book as per the franchise agreement.

Expect to Grow

When you have more than two or three franchisees, you’re going to need to be able to hire people who can help you oversee operations. This means it’s time to reassess your strengths and weaknesses. Delegate and play to your strengths. This way, you can build a team where everyone complements each other’s weaknesses with their strengths.

Provide good returns to your franchisees

If your franchisees do not see satisfactory returns down the road, in the years to come, you will be having a lot of trouble. Unsatisfied franchisees lose motivation to work when they do not see light at the end of the tunnel. This will limit the expansion plans you have as well. Set the bar where the share of profits justifies franchisees time and efforts. A happy franchisee positively correlates to a happy franchisor.

Find your franchisees online

Get franchisees online with a click of a button. When you want to expand a franchise business, the best place to start is at FranchiseBAZAR.com. Get thousands of franchisees in the directory, giving you a stunning array of possibilities for your first, second, or even third franchisees. As a franchisor, ensure to register today to connect with entrepreneurs who can take your brand to the next level in different markets.

Franchising is a way to cross boundaries with ease. Franchise expansion strategies help in entering markets that only looked like a mirage to operate in. Keep revising your franchise expansion strategies for your business at regular intervals. So don’t stop! Keep exploring avenues where you can keep adding your franchises.

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Franchise your BIS Hallmarking Assaying Business In India

Written by Sparkleminds
Franchise your BIS Hallmarking Assaying Business In India:sparkleminds

Gold has a deep-rooted significance in Indian history, alluring people from different parts of the world with its beauty and charm. Its golden glow was visible across seas and borders, evoking emotions from millions of hearts. Over the years India’s infatuation with gold has grown stronger and stronger, with Indians accounting for most of the gold consumed globally. Gold, in Indian history, is more than an investment, it is a culturally significant metal that has found a place in Indian hearts and homes alike. Let us see how BIS Hallmarking Assaying Business In India is changing for the times to come.

India is one of the largest markets for gold, and growing affluence is driving growth in demand. Gold has a central role in the country’s culture, considered a store of value, a symbol of wealth and status and a fundamental part of many rituals.

The Government of India recently announced that it is fully prepared to implement mandatory hallmarking of gold artefacts and jewellery from June 1, 2021. Currently, Gold BIS Hallmarking Assaying is voluntary in the country.

With hallmarking unique ID (HUID), the government has embarked on a mission to track each piece of gold that is sold in the country. The government wants to do so by attaching unique identification numbers to them.

Hypothetically, this HUID for gold is similar to a PAN or Aadhar number for an individual. HUID will give a unique identity number to each piece of gold in the country. It will help track down the entire journey of that piece of gold from the point of sales to what happens with it after being purchased. The jeweller who sold it, the buyer who purchased it, whether that piece of gold is stored in a locker, turned into jewellery or simply went for reselling, HUID will tell you all.

What is Gold Hallmarking?

  • Gold Hallmarking is providing purity certification to the gold jewellery and artefacts.
  • Only three grades of jewelleries will now be hall marked under the new regulations. They are 14-carat, 18-carat and 22-carat. Earlier, ten grades of gold jewelleries were hall marked.
  • The new Gold Hallmark will contain four marks. They are purity in carat, BIS mark, assay centre’s name and the identification mark of the jeweller.
  • The system is also available for consumers who want their old jewelleries hallmarked.
  • A person found violating the provisions will have to pay a minimum fine of Rs 1 lakh or five times the price of the article.

Importance of Gold Hallmarking

  • The mandatory hallmarking of gold will protect the public against lower carat. This will ensure that the consumers are not cheated.
  • It will bring in transparency and will assure quality to the consumers.
  • It will remove corruption in the system of manufacturing of jewellery.
  • Legality of Gold Hallmarking

So how is franchising your BIS hallmarking assaying business going to help you??

Now that we know hallmarking is compulsory for the yellow metal, let’s see how you can benefit from having a franchise. Imagine you have set up a unit to do hallmarking of gold. Every jeweller has to get their products hallmarked. Won’t you be the person who will be in demand?  This means that having yourself placed in the right place will help you to have a business throughout the year. We know, gold as a commodity will always be in high demand. Having franchises across India will have many advantages for the same.

The benefits of franchising are as follows:

Rapid Expansion: The biggest advantage of franchising in a country like India, which is so geographically diverse, is the speed of expansion. If you don’t move quickly on expanding, someone else will. It is often seen that communities, friend circles, social circles, and everybody catches upon a franchisee that they see within their proximity.

Market Dominance: Take the first-mover advantage and have the market edge over the competition. The business opportunities have to be grabbed when

Additional Income: With a franchise, you can earn in terms of royalties, franchise fees, equipment sales etc. With such sources of income, it becomes more attractive to the franchisor to give out franchises.

Low Risk of Failure: Franchises have a lower failure rate. When you opt into a franchise, you generally have a network that will offer them support and advice, making it less likely they’ll go out of business.

The Indian market is a large market with the potential being limitless. With the regulations taking a huge step in the jewellery sector, we can look forward to a more advanced and reliable way of functioning in the future. Do not wait to start and franchise your BIS hallmarking assaying business in India today.

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How To Franchise Your Service Business In India

Written by Sparkleminds
Service Franchise Opportunities in India : Franchisebazar

Can you franchise a service? And If you can, will you be able to franchise your service business type as it may not be similar to many other types of businesses that are generally easier to franchise. That’s the first question you’d have while you’d contemplate expanding your service offerings across various markets. Some of the world’s biggest franchise companies are from the service industry. WSI, JanPro, Servpro, Cartridge World are amongst the top global brands in service segments franchising very successfully. Lakme, DTDC, Ekart, Waaree Solar, Asian Paints, Tally and several other franchise brands in India across various service categories are franchising. Service Franchise Opportunities in India is expanding at an exponential rate as all types of franchisors and franchisees are interested in growth.

There are products such as brick and motor companies where customers come in to browse and shop, those that serve food – whether fast, casual, or luxury fine dining. Then there are service-based industries, where the business owners provide a service to their customers. There can be a range of service franchise opportunities example: if you plan to franchise your service business which is into painting houses, installing gutters or roofs or repairing them, giving spa facilities at home etc. Where you provide a service to your customers.

Simple enough concept, right? Whether you are looking to expand your existing franchise company in the services segment or looking at buying a service franchise, there could be tremendous gains. Yet these types of companies are so often overlooked in the type of value that they can provide. If you’re new to franchising or are considering your industry, take a look at the benefits that can come from a service franchise in India. 

Customers don’t have the time to do or simply can’t do
In most cases, service franchises provide something that the normal consumer can’t do on their own. Maybe you have special equipment, perhaps it’s education or know-how that the average Joe just doesn’t have. Are you preparing taxes? Providing financial advice? Offering childcare? All of these things might be a service that someone can’t or doesn’t want to do themselves. Right then and there you have an edge up with your business, simply that you’re offering something that people need or want. You’re in demand from day one. Don’t overlook the value of providing something that others need, but can’t do on their own.

Get Ready to Franchise Your Financial Services Business In India.

Back-to-back Business
When selling something, consumers might not need to return for years. With a service, they’ll need to come back every so often to have you do the same service again. For example, getting a haircut might happen every 2-3 months. Whatever you’re doing, it needs to be done again, eventually. Right there you’re setting yourself up for ongoing revenue with a franchise that provides something that’s repeatable to the same customers, over and over again. 

Get Ready to Franchise Your Salon Business In India.

A different source of income
Increase your training, offer various tiers of services. Doing all of the above can create different revenue streams. It also helps your consumers have options as to how much they want to spend. Not everyone can afford the top price point, but they might be able to afford the lowest one. This can increase your customer base from day one, and provide the benefit that customers can choose what they want. 

Quality lead generation
If you offer a franchise service that’s rare or if folks simply don’t know where to go, your name could soon be a hot commodity. Getting referred to others by customers, or simply doing a great job allow referrals to take place all on their own. When you’re providing a service that few can replicate, you’ll be surprised at how quickly your name gets passed around to the masses. 

The Pet sitting business has become famous among pet owners and pet lovers.

Reduced Expenses
While retail businesses will need to invest thousands just to get up and running, you can make do with much less. Once your equipment has been purchased, you can cut the spending and start earning. Sure, your franchise location will need products and items along the way, but on average, you’re spending far less than different types of businesses. Your parts can be reused, and you can still charge customers for their time with each tool or piece of equipment. For instance, if you do hair, you reuse your scissors and hairbrushes, etc., and if you’re a bike mechanic, your wrenches will last for years. This means less spending on overhead overall. 

Get Ready to Franchise Your Logistics Services Business In India.

Create your own Size
As a franchise owner, it’s up to you how big or how small your operation will become. When providing a service, you can remain the sole owner-operator. Or, you can hire tens of employees and train them all on how to do a great job. The end state is up to you. You can even start out small, and see just how big your business can get.

Branch Out into Retail

Service is not restricted to retail only. You might also find that there’s good money in offering products to your customers. It is completely your decision. If there is a good lead for your franchise location, you can offer relevant products to consumers. There’s no harm. Just one more merit to a business that offers a service in a franchise setting. 

Ongoing Training is Available
You may love what you’re doing and growing rapidly. That’s one of the reasons why you got into your franchising business. But you don’t have to do the same thing on a daily routine. You can actually continue your training and learn more as you grow. Your business skills will advance while running your franchise. Choose the methods that mean the most to you and pursue them. It’s a great way to remain fulfilled in what you do, as well as adding value to your business.

If you plan to Franchise your Service business in India, remember that it has tremendous potential. Each developing city/town is going to be acting as the main hub to cater to a large set of the population in the coming days. The future is for those who are into creating a space in terms of innovating the way business works. Convenience is the new key. If you get your customers to like your service, you can be assured to get repeat customers. The generation is looking at getting work done in the easiest way possible. Would you be rather spending time travelling and waiting rather than enjoying the service at your space with loved ones? A cloud kitchen that delivers food at your doorstep, is much more the need of the hour than visiting a restaurant. This makes it all the more attractive to get franchise services at your doorstep with fewer hassles and worries. 

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Create your own Franchise Marketing Strategy

Written by Sparkleminds
Franchise Marketing Strategy : Sparkleminds

Who is executing the franchise marketing strategies planned? Franchisees..!!Wrong answer!!! No matter how good you have set your franchise business model, and your franchise systems and manuals. The franchise marketing strategies have to be planned by you to support the complete franchise organization at a central level.

Many franchises succeed using great marketing strategies. It is a continuous process that helps in the retention of customers and developing new ones. One of the benefits of a franchise is working with a company that already has established marketing strategies in place. If the franchisor does not provide a support system, it leads to confusion among the parties involved. A franchise business plan has to be allocated well in advance. Delaying it causes only delaying in getting profits.

Have a marketing checklist and act on it accordingly. You can use the following direction to better marketing.

Take the lead in Marketing

Take a more centralized approach and handle the bulk of the marketing at the corporate level. Others leave marketing up to the franchisee. Knowing what you have available and are able to do under your franchise’s guidelines is the first step to building out your marketing plan.

Provide Marketinginputs

Franchisors need to provide excellent marketing materials to franchisees. These materials are just the beginning of having a solid marketing strategy in place. It’s up to the franchisee to devote the time and resources to bring these marketing materials to life.

Be Geo-Specific Transmission

Have a strong social media presence. If you’re not skilled in how to do social media marketing, hiring a social media expert. Through centrally operated, provide posts and activities which will benefit the franchise in particular geographic zones. Promote and engage with local organizations and deepen your connection to the community so that the franchise benefits highly through wider reach. Local marketing strategy by the franchisee will enable the business to feel autonomous rather than like an out-of-touch establishment.

Build Relationships

A marketing plan should focus on humanizing the brand by personalizing the communications you send. As much as you want to sell, it is much more important for you to touch hearts and make a connection with your customers. The franchises are hugely dependent on the community the franchise is available at. This personalization can foster deeper relationships between the franchisee and the community, which ultimately can build the franchise. Franchisees must have a budget to devote to building these resources.

Hence, get your franchise marketing strategy built in a strong manner to support your franchises in delivering the results you would like to achieve.

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Optimize Your Franchise Territory Mapping

Written by Sparkleminds
Franchise Territory Mapping :Sparkleminds

A very important part of the franchise agreement is where the franchisee will operate and how the franchise territory mapping is set to clear. As and when a franchise expands, the number of franchisees grow. Apart from external competition, franchise competition increases to capture a market. The location of these franchises has to be strategized with market allocation. Whether it’s a product or service franchise, the needs of the customers in the location plays a vital role in generating revenue.

Having a good market study based on location-based analysis to select franchises can help businesses operate more efficiently and make better decisions. When a franchise knows a potential market, capturing it would be critical as a first-mover advantage. A franchise can tremendously be benefited if all territory mapping strategies are made with numbers backing them.

To maintain healthy and consistent growth, strategies for franchise territory mapping has to be done with customers in the main focus. Every franchise has its own unique set of target audiences whom they serve to. On top of, understanding the characteristics, tastes and preferences become important. Through segmentation, franchisees are able to offer effective sales incentives. Franchisees will be provided with adequate territory to generate and maintain a revenue stream that does not have to deal with direct competition from other franchisees

Franchisor role in franchise territory mapping

  • Demarcation of Franchise Territories

This is the most common criteria for any franchise expanding. Territories can be defined using simple metrics such as distance radius, ZIP codes, population size etc. Once a franchise knows its strengths and weaknesses, it can have a market strategy to implement on the location that will assist in making the franchise a success.

  • Roadmap for the future

The franchise territory mapping has to be done with the future business kept in mind. An environment that is developing has to be always under surveillance. They are the opportunity that cannot be missed at all costs. Hunting down locations that can add revenue and cater to a larger audience creates better positioning and ease of access to the customers. Conducting territory optimization analysis sets a road map for the franchise for expansion and recruiting a local franchisee at the said location

  • Overseeing Franchise Territories

Investing in franchise territories at the beginning itself will improve the efficiency of your franchise sales and ultimately reach your franchise expansion goals. Success in selling a franchise begins with providing the supply of the current and future demand of customers.

Territories are the fundamentals for any franchise as it provides them with revenue, customers, and the endless potential for growth. Choosing the wrong territories can have a detrimental effect on a business’s potential to grow. For example, if a territory is too small, there will be minimal opportunity for expansion. In addition, if a territory is chosen with little regard to location, you may find that neighbouring franchises are constantly competing for your customers.

To maximize revenue in a particular location, franchisors may offer various territory rights:

Exclusive: The purpose of an exclusive territory is to ensure that franchisee has a large enough market to be successful and a small enough market to be efficient and effective. With exclusive territory rights in the franchise agreement contract, the franchise is the only source of the franchisor’s goods or services in your agreed-upon geographic area. Lack of territorial definition can create business risk for franchisees.

Protected: Under this, a franchisor agrees with a franchisee that it will not appoint an additional franchisee in that franchisee’s territory. However, the franchisor can operate the franchise business in the territory from some other sources, such as company-direct internet sales.  

Unprotected: In some franchise systems, there is no territorial protection to its franchisees. A franchisor wants to get as much revenue as possible from its franchise locations. The possibility of franchisors opening competing stores is high in this system.

Location strategy is essential to any franchise business. The way in which you define your franchise territories and the locations where you build your stores will ultimately determine if your business is successful or not. Franchising territory mapping can help improve your decision-making and ensure that you make the right choices in terms of territory creation and site selection. When franchise territories are properly allocated, you can achieve greater economic benefits.

Once the territories are very defined, it becomes easy to compare the performance of different territories side by side and better understand that factors may be impacting the performance of that franchise. Various factors can influence performance, such as location demographics, territory demographics, and competitor locations. Franchises that leverage territory mapping is able to efficiently create and manage sales territories which helps drive sales and overall growth within a company.

Franchisor support to maximize your franchise is important. Territory mapping can benefit both franchisers and franchisees. No matter how a particular franchisor establishes territories, understanding how territories are determined and are well-respected among all franchises acts critical to have minimum disputes among the franchise in the long run.

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