Over the last decade, Sparkleminds has helped 100’s of business franchise effectively. The time-tested Sparkleminds consultancy module has ensured that the franchisors do not commit costly franchising mistakes, in the process losing a lot of time and valuable resources. Therefore, at whatever stage of franchising you are, you could take our help and build a strong franchise foundation. Whether you are a business concept or a successful business or an existing franchisor, you are likely to benefit tremendously from our understanding of the typical hurdles your business is likely to face and what could be the results of not taking the other road, while you have choices to make.
The 15 biggest franchising mistakes that companies end up doing are in the form of:
- Wrong Franchise Fee and Value Proposition perceptions
- Incorrect evaluation of local competition and the different kinds of competitors the unit franchisee would have.
- Franchisee Profiling
- Accepting the Cheque too soon
- Roles and bearing of Advertisement, Marketing & Publicity on the business at various levels
- Not understanding that you are a franchise system
- Preparation of agreement before a lot of other things are clear
- Wrong commission or ongoing royalty sharing arrangement
- Training support systems
- Precedence of concept over systems
- Geographical demarcations, exclusive territories and adaptations to local market conditions
- Interconnectivity of the franchise program
- Importance to Operational Procedures and Manuals.
- Driving sales.
- Audit and Regulatory checks
Therefore, if you need any help in modifying or building a franchising model contact the professional experts at Sparkleminds. The team has intense knowledge of the market and trends. Hence, your franchising model will work perfectly for the long-term.