Franchisors and Intending Franchisors could use our franchise mantra-proven system, which is a road map, to franchise your business.
So, we have created a ‘To Do List,’ which you must have as a resource document, while you go about franchising.
How Sparkleminds Franchise Mantra Proven System Works
Information & Basic Research:
- Attend Free FranClinic
- Speak to Franchise Analyst
- Read books on franchising
- Research the Internet on franchising a business
- Take the Franchise Quiz
- Evaluate All Expansion Options
- Grow Internally
- Find Investors
- Franchise
- Business Format Franchising
- Dealership / Distributorship / Agency
- Licensing
Meet with a Franchise Consultant
- Visit the Head office
- How many years has the firm been in business
- What is the knowledge as well as franchise experience that the proposed team has?
- Is there a project head that will take complete responsibility for your franchising as well as you will not be lost with the other more important clients the company is working with?
- Are there systems and processes defined to help clients get success
- Review the client list and the previous work the company has done and hence seek referrals.
- Are they interested in franchising your business correctly? Else are looking for another client who would add to their marketing activities.
- Are they accredited by the governing franchise association?
Are you moving forward with Franchising? Consider our Franchise Mantra Proven System
- Do personalized detailed meetings with specialized franchise consultants
- Talk with your chartered accountants, business advisors, close friends, and also, relatives
- Make a realistic assessment of the resources you have to move forward in terms of:
- The Capital as well as Finances that you have
- The Personnel
- The passion as well as energy that you have to make it happen at the time
- To roll out your franchise network, will you need to fast-track the recruitment of franchisees?
- To attract the initial consumer as well as sustain the consumer vis-à-vis anticipated market changes.
How Does Franchise Mantra Proven System Work?
- Do not assume ‘franchising.’
- Don’t get started with a P&L Sheet, also a return on Investment document for a franchisee.
- Do not copy & paste bits and pieces from similar successful franchise models.
- Hiring Franchise Managers and Employees will only ensure that you get their perspective on franchising.
- Designing the franchise agreement needs more than a lawyer.
- Never start with a lawyer, have a complete strategy in place before you even think of getting a legal consultant.
- If you have never franchised your business before, it’s not easy to do so.
- Being a Franchisee is much different from running a franchise company.
Conclusion,
Thus, if you are looking to speed up your idea of franchising a business in India, and are convinced by our franchise mantra-proven system, it’s the right time to get in touch with our consultants, who will guide you ahead on your venture to franchising. So, get in touch with us today.
