How To Give Franchise Of Your Business In India In 7 Easy Steps. Start Franchising Like A Pro.
1) Create A Profitable Operating Prototype.
2) Protect the Brand you are Franchising by Filing Trademarks and other Intellectual Property Registrations.
3) Build A India Franchise Financial Model – Define ROI, Royalties, Franchise Fee.
4) Make A Strong India Draft Franchise Agreement – Ensure that you protect the brand from 13+ acts that govern franchising in India. Create a water tight franchise agreement that helps you work with the right franchisees.
5) India Franchise Training & Operations Manuals – Get your systems and processes in place. Have your manuals readied. Hire or train existing team members to become strong operational resources to support franchisees.
6) Make your Franchise Marketing Kit from your Franchising Blueprint. – The entire Blue print can be created in Stage 3 as above and the financials could be a part of the Franchise Business Plan.
7) India Franchise Marketing & Recruitment Plan – It is not necessary that you go with a full bang to make franchises for your business across India in one shot. It can be designed to get you the first initial franchisees in the first year and then you start building speed. Ensure that you get your franchisee profiling right and approve the correct franchisees only.
You are well on your way to make franchisees across india by following the above 7 steps.
Lets understand franchising your business more clearly.
Many business owners aspire to see their brand become a household name. They seek a network of franchisees across different cities in a country or around the globe and hence are always under the confusion if they can Start Franchising my Business? To make it easier, here are few questions a business owner goes through before taking up an expansion route:
- Are you that business owner?
- Are You Ready to Franchise Your Business in India?
- Wondering, what it really takes to franchise your business?
- How To Give Franchise of Your Business in India
We have the answers to your questions with no smoke and mirrors.
Let’s agree, it is difficult and time consuming including substantial costs.
However, that is where our experience rescues our clients. We are here to take you through the entire process and help you meet your aspirations.
How To Franchise Your Business in India.
There are 4 major sections dedicated to help you understand:
- Are You Ready: Why, When and How to franchise your business. Should you really franchise and what could be the most common pitfalls you would encounter.
- Franchise Quiz Questions: This is a self-assessment tool, which will give you instant results on where your business stands. You could use our evaluation tools and franchising check lists to tick off, what has been done and needs to be done.
- Franchise Registrations: Protecting your brand, its intellectual property, its systems and processes. Initially, we have mentioned the basic registrations for your understanding.
- Making Your Franchise Successful: Once you have begun franchising, you will need to keep the franchisor franchisee relationship harmonious. How does one really achieve this? Franchising key success factors, franchise model development and learning from past mistakes of other franchisors could be the basic foundations on which you start franchising.
Do you have a proven business model ready for franchising?
Right Strategy and Documentation
Franchise Registration India is not subject to a particular law or Act. It is a combination of several Act’s combined together. Franchise falls mainly under the Indian Contract Act in India. It is important that you know your business well. You need to structure your business and accordingly develop a full proof franchise system. After that, recruit selectively and ensure that successful franchisees are on-boarded. Thereafter, develop a detailed operations manual which covers the end to end operations of your business. This manual will serve as a training guide for new franchisees. You also need to develop training programs for use in conjunction with the operations manual. Computer-based tools and programs are highly effective, so are training videos. Hence, the franchisee and it’s new employees can use it. The focus must remain on maintaining quality control for the entire chain.
Protecting your business is important. Hence, it is critical to have the correct documents to secure your brand with appropriate legal and regulatory arrangements. The required documents are patents, licensing, registration of your trademark, franchise disclosure documents (if it is required) and franchise agreements.
Marketing Your Franchise Business Opportunity
How To Franchise Business is not only getting the right franchisees onboard. It also involves continuous effort on the marketing front. One needs to do this to effectively make all franchises successful. Make a franchise marketing / media sales plan to advertise for franchise buyers and to reach the desired franchisee profiles. You will mainly promote the demand for your product or service in the new markets to attract the attention of entrepreneurs and investors. For this, you will have to present the financials of your business, which will include how successful your business has been, since you started. The potential franchise buyer’s ultimate interest will be the financials other than business suitability. Give them clarity by clearly talking about the capital to be invested, the break-even analysis, anticipated demand for your product / services in their markets, working capital for sustaining the business, return on investment and scope of business.
In short, a complete Franchise Kit which will be the backbone to your business expansion process. For better results, this should be completed professionally. Sparkleminds, a specialized franchise consultant in India; assists you in business expansion with a complete franchise development program.
Starting Correctly is the key to franchising success.
Franchise Your Business Now!!
With our professional and specialist support to franchise your business, contact us today. We lay strong franchise foundations for our clients whether small, mid-sized or a big company, and work very closely with every aspect of your franchise business. We have successfully answered the question, “How to franchise my business in India?” for over 500+ companies. Our ultimate aim is to help you achieve your short- and long-term expansion goals via the franchise route.
CALL NOW and get the launch pad required to start franchising.