Cost of Franchising a Business
How much does it cost to franchise your business in India?
We have helped over 500+ clients in the last two decades and know exactly the cost of franchising a business in India. Though it may seem relatively easier; franchising is like the tip of an iceberg and what is seen to a prospective franchisee is typically the tip itself. However, it is the other end that is the most important part which the franchisor has to work upon to ensure their franchise success. We often come across clients who want to do this very professionally as they understand the importance of doing it right the very first time.
They also understand very well, that having an experienced franchise consultant can only help them save time and a lot of costs. They evaluate the franchise setup costs with us and make the right allocation. So that, they can begin their expansion in a phased manner depending upon the resources they have on hand.
Franchising is a long term, capital intensive, building your business strategically, over a period of time, system. It takes a lot of effort and resources to build a Successful Franchise Brand. It is seen with the right capital infusion and correct resource deployment franchising can really help you penetrate markets and reach the desired consumer and get the business spread that you are seeking.
For understanding the right amount of cost of franchising your business, you will need to first evaluate what are the resources that you have on hand and whether these would be sufficient to franchise your business. What are the objectives of your business and what is the speed at which you would want to grow? Are your resources in deploy-able formats. Will you have to look at external funding? Do you have the collateral’s that might be needed for the same and all such options that will ensure that the business is secured with the requirements of capital and resources whilst it embarks upon its franchise journey.
Is Franchising a Self-Funding Exercise and Does it Generates Capital for Expansion?
Franchising is a great way to raise capital that would be needed at each stage of business growth. It could additionally play a vital role in bringing in resources other than capital. It gives all growing businesses the most crucial resources it needs without diluting their equity and propelling the franchise business with the thrust incoming franchises bring in.
All franchise businesses grow phase by phase and hence they require different inputs at each of these phases. Most business owners use different funding options which sparkleminds understands very clearly.
Average Cost to Franchising a Business?
Call us today and we would be delighted to help you understand the costs of franchising your business and how you could hire us to do so. It could start with an initial investment of a Few Thousand and go up to a Few Lakhs, depending upon the type of work that needs to be done. If you have anywhere between Rs 3 Lakh you could get started with a basic program, Rs 5 Lakh for a regular program, and Rs 10 Lakh for the complete franchise development program. These costs of franchising could include manuals, training programs, marketing your franchise, and recruitment of franchises across India. This includes the franchise recruitment account manager cost and an annual franchise marketing and hand-holding exercise for the first year of franchising, as we go about recruiting the initial franchises for you. This is the most crucial year and you would need support from our franchise experts at this phase.
We have seen several clients participating in a franchise exhibition or giving out franchises to people who have inquired about their franchises by just preparing a draft franchise agreement. They figure out at a later stage that this has been a costly blunder. You could start franchising very effectively by going through a quick franchise development program, understanding several aspects. Which includes, how to franchise your business correctly and what are pitfalls you must avoid. This comes at a very reasonable cost and definitely sets you up to franchise your business correctly from the word go.
Customized Cost of Franchising | Get an Exact Quote for Your Business
The above-mentioned costs are just ball parks and will vary. You will have to fill in the franchise expansion form and take the franchise quiz for us to give you a clearer estimation of how much does it cost to franchise a small business or for that matter any type of business. We have done this for all types and really specialize in this domain and will be able to give you an accurate time and cost estimate. We would be more than glad to work with you on customized pricing and flexible payment options. Whilst we build a long-term association with you in building another successful franchise brand. Therefore, call our consultants today.