Become a franchisor in 2023 – Definitions, advantages & disadvantages – A complete guide

Written by Sparkleminds

Want to become a franchisor?  Heard this term many times but wondering, how you can become one.  Here’s a complete guide that will give you a clear definition of a Franchisor, the pros and cons of becoming a franchisor, how to franchise your business in India today, and more about franchising in India.

Who is a Franchisor?

Franchises are agreements whereby one business grants another the right to use its trademark, business model, and other proprietary assets in order to offer its goods and services.

The original company or one that already exists will be the one selling the trademark. The local entrepreneur who invests in these rights is known as a “franchisee,” and the new enterprise is known as a “franchise.”

Understanding What it Means to Become a Franchisor in India

Typically, three payments are made to the franchisor: the initial franchise fee, an annual fee, and a cut of the branch’s revenues. In addition, it can include additional service fees.

There are benefits and drawbacks to being a franchisor, but overall, it is a viable business option, especially for large, established businesses. A franchisor-franchisee relationship is fundamentally that of an advisor and advisee.

Here’s the role of you as a franchisor:

  • The franchisor offers ongoing advice and assistance with basic business decisions including hiring and training employees, opening a storefront, promoting its wares, securing supplies, and so on.
  • The franchisor’s role as a guide does not end once the partnership has been established and mutual success has been achieved.
  • Some franchisors are more vigilant than others in monitoring their franchisees to ensure that they are upholding the standards, quality, and values of the parent company.

Benefits of Franchisor

Now let us understand what are the benefits of a Franchisor in India are.

1. Opportunities for Growth

Franchising is frequently used by multinational corporations to increase their presence in new markets throughout the world by tapping into the expertise of franchisees in those regions.

The franchisor company entrusts the franchisee with the obligation of regional or international expansion and the right to award additional franchises to other businesses.

In exchange for using the franchisor’s tried-and-true business strategy, market dominance, and brand name, the franchisee bears the cost of opening a location and pays royalties to the franchisor.

2. Increased Market Share

Franchising is a great strategy for a business to expand its presence into new markets while also gaining market share with little to no additional investment. Because franchisees are also business owners, they have a vested interest in the success of their locations and must bear the costs associated with running a business, including payroll.

Even if individual franchise locations generate less revenue than they would if they were part of a larger chain, lower operating costs can nevertheless make franchisees more profitable overall.

3. Scalability

Franchise agreements can be tailored for high-volume national expansion or low-volume regional expansion, depending on the company’s needs, resources, and production goals.

4. Additional Revenue Sources

Ongoing royalties paid by franchisees are an extra source of revenue for a franchisor. Depending on the franchise agreement, royalties might comprise a variety of payments beyond the initial starting fee and monthly charge based on a percentage of the franchisee’s gross sales.

Disadvantages of a Franchisor

Every business comes with its own benefits and risks.  Now that we have seen the benefits of becoming a franchisor in India, now it is time to understand the disadvantages.

1. Capital Investment

It takes a substantial time commitment and financial resources to launch a franchise. Developing the business, opening a flagship location, creating legal documents, developing marketing and packaging strategies, and finding and training franchisees are all essential expenses for every franchisor.

2. Risk of Failure

A franchisee may prove to be a bad fit for a number of reasons, such as being irresponsible, difficult to work with, or unable to successfully operate a firm, even if the franchisor has done its due diligence. There are additional possible scenarios in which the franchise loses money. There is still risk involved in investing in a franchise, even if the business model is tried and true.

3. Loss of control

At the outset, franchisees sign contracts promising to adhere to their franchisors’ guidelines regarding training, behavior, and other matters. However, this may not be the case once the novelty has worn off.

Disagreements are inevitable given that franchisees are people with their own views and temperaments; a franchisee could become stubborn or difficult, or they might not be able to implement changes as easily as the franchisor had intended.

4. Legal and Regulatory Costs Can Be Expensive

Legal action may be required if a franchisee refuses to cooperate or otherwise shows to be a bad option; this can be costly and detrimental to a franchisor’s reputation among other franchisees.

In addition, the Franchise Disclosure Document (FDD) and other regulatory documents necessitate the services of an attorney because of state and federal rules regulating franchisees.

Steps to franchise your business in India – Become a Franchisor in 6 easy steps

The best approach to expand your business across all of India is to franchise it. It’s also a fantastic opportunity to supplement your income. Offering a franchise involves entrusting a portion of your business to an unknown individual. That’s why it’s crucial to research the franchisee’s history.

Here are six easy steps to franchise your business in India.

1. Standardization – The term “standardization” refers to the practice of producing identical results consistently. This will ensure that customers at all of the franchise’s locations have the same consistent product flavor.

2. Ensuring a proper distribution network – Since the franchisor needs to ensure consistency across all outlets, it is important to have a proper distribution network, to ensure the same product/services across all outlets.

3. Have a proper support team – The prospective franchisee has to be assisted by a competent team. They will advise the prospective franchisee on the franchise’s history, past achievements, investment requirements, and potential returns.

4. Marketing Strategy – The franchisor should be actively engaged in online activities and have a strong social media presence. The franchisor must set up some funds for marketing the franchise system.

Key Takeaways – Role of a Franchisor in Franchising Business in India,

  • Franchises are agreements whereby one business grants another the right to use its trademark, business model, and other proprietary assets in order to offer its goods and services.
  • Because franchising allows corporations to leverage franchisees’ in-depth familiarity with local markets, it is frequently used by multinationals to increase their presence around the world.
  • A franchisor must allocate funds for research and development, a flagship location, legal document creation, marketing and packaging strategies, franchisee recruitment and training, and operational costs.
  • Franchises are subject to state and federal rules, which necessitate the use of an attorney to create the Franchise Disclosure Document (FDD) and other regulatory documents.
  • Franchisees are typically not protected against their franchisor’s bankruptcy by the terms of the franchise agreement.

Franchise Your Business FAQs

Q.1. How can I become a franchisor of my own business in India?

Once you have analyzed that your business is successful and are looking to expand it across the country, you can become a franchisor of your business with proper planning and strategy in place.

Q.2. Why would a business choose to franchise in India?

Most business owners choose to franchise because it provides rapid growth with less exposure to debt or the need to use equity financing. Since the franchisee is responsible for raising all startup funds for a location, franchising provides a means for businesses to expand without having to put up their own money.

Q.3. When should a business consider the franchising model in India?

Franchises typically only accept businesses that have been established for at least a year and a half. However, that figure may be higher or lower than stated, depending on the sector. In the first two years of operation, franchising can be helpful for some businesses.

Q.4. Is franchising good for small businesses in India?

Franchises have a higher success rate than other company models, but this does not necessarily translate to better profits. Of course, the higher success rate will cost you more in franchise fees. If you don’t have a lot of expertise in the business world, a franchise may be the best option for you.

To Conclude,

Your level of dedication to the franchising process should be the deciding factor in whether or not you take the plunge.

It would be irresponsible for privately held companies to consider not investigating franchising as a growth and expansion option. However, not every company can benefit from franchising as a means of growth. If you’re an entrepreneur thinking of testing out the franchise market, there are a few things you need to know first.

Get in touch with us at Sparkleminds to know how to franchise your business in India.  Our expertise in franchising has helped various businesses to grow domestically and globally.

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Benefits of Multi-Unit Franchising Your Business in India

Written by Sparkleminds

Multi-unit franchising is a good way to ensure long-term growth for your business. Read this article to know more about the Multi-unit franchise business model for your business, its long-term benefits, and how to prepare yourself for multi-unit franchising in India.

Entrepreneurs are now looking at multi-unit franchise models as a surefire way to grow their businesses and take advantage of the growing number of investment possibilities. Eventually, these groups become independent business models and stand on their own.

Multi-Unit Franchising in India – A Complete Guide

The franchise business is always growing, and franchisees are always choosing to own more than one company. Multi-unit leasing is a great way for a business to grow quickly and increase its holdings.

Multi-unit franchises are like single-unit franchises in many ways, except that they have more than one store in the same area. Investors who want to operate a multi-unit franchise must invest more money upfront and over time than those who want to operate a single-unit franchise, but they also stand to gain more from having a larger profit margin.

Since it can be hard for a single business owner to be hands-on at each of their different sites, many choose to hire unit managers to oversee the daily operations at each franchise location. The owner will oversee their network of businesses and report back to the franchisor.

Key Takeaways,

  • One franchisee manages many businesses, typically in the same location, which distinguishes multi-unit franchising from the traditional franchise model. In the past few years, the multi-unit model has become more and more common.
  • When growing their holdings, franchise partners must think about several things, such as infrastructure, resources, franchise systems, the desire for growth, and the bond between the franchisee and the franchisor.
  • Traditionally, multi-unit owners run multiple units in the same area. But there have been cases of franchise partnerships that went beyond countries and boundaries.
  • There are many good things about the multi-unit franchise model for both the franchisor and the entity in charge. This makes it more appealing, which is why the multi-unit trend is growing.

Benefits of Multi-unit Franchising in India

1. Stability

You can choose this type if you want a steady sense of growth. Here, you also have a better chance of being successful because you can make money from more than one place and won’t be dependent on the success of just one place.

2. Building Strong Ties

One thing a franchisor wants to do is build trusting relationships with his or her partners. Those who want to stick with a certain brand or service under a franchise will only be able to do so if they have built good relationships with the owner over time.

3. Risk Taking

Because the plan has already been tried and tested at your first franchise, it makes sense to copy it, and isn’t very risky so, the best thing about you is that you don’t have to start from scratch. Also, you already have a standard operating procedure, making it easier to copy the model quickly in a new place in the same area, unless you have the skills and knowledge to go multi-regional.

4. Easy Returns on Investment

If you want to go the multi-unit franchise route, you can finance yourself with little risk. This is because if you have a set franchise model, you have already built up your reputation and are a safe bet to get money from a public or private bank. When someone has run a business before, banks are more likely to give them money because they know they won’t lose it.

5. Growth Overall

This is a kind of model that makes it possible for the company, the franchisor, and the franchisee to all grow at the same time.  For a multi-unit franchise model, a franchisor will always look for someone who can inspire a large group of people, has a track record of being a manager, can work and come up with new ideas under pressure, has a history of success, and knows the market in their area very well.

Here are some factors Franchisors need to consider before expanding their business into multi-level franchises in India.

5 Factors to consider before expanding your portfolio in India

1. Finance

While considering expansion across the country, it is necessary for franchisors to ask themselves:

  • Do I have sufficient cash flow to keep my current business running while growing into multi-units?
  • How can I find the right investors who will finance my growth?  Will banks be ready to fund my growth?

These are basic questions that need to be addressed before considering expanding into multi-units.

2. Resource

When moving to a multi-unit plan, the franchised units that are already open need to keep running at the same level. Franchisors need to make sure they have the right team in place to run the current unit well while they work on growing the business. Getting a business to grow means letting go of control and giving your team the power to run things on their own.

3. Losses

It is common knowledge that franchisors can expect their first unit’s business to go down as they open more units. What needs to be thought about is the size of that dip. A big drop can hurt both businesses and change how entities work with their franchisors.

4. Growth Capacity

Getting bigger just for the sake of getting bigger is not enough. Franchisors must determine how much the market wants the brand, look at the competition, and check how much people want the brand’s products. Multi-unit leasing is not about being vain, and the goal is not to have a lot of units.

5. Infrastructure

It is important to build a strong front of the house at the place, but it is also important to build a strong back of the house. To stay ahead of the curve, franchisees need to make sure they have the right people in the right places. This includes administrative and human resources workers as well as loss prevention teams. In the same way, it’s important to have enough resources. A common mistake is to have too many resources, which can cause the business to lose money.

Single-Unit Franchising Vs Multi-Unit Franchising in India

Most people know most about franchising through single-unit businesses. Under this plan, an investor in a single-unit franchise pays a set fee to get training and business help from the franchise parent company.

In exchange, the entity signs a contract saying that it will follow the company’s brand guidelines and business growth requirements.

Most business owners who choose to franchise do so because it gives them the chance to build brand recognition, use tried-and-true methods, and work with customers who already trust them.

The franchise plan is liked by both experienced business owners and people who have never run a business before because it gives more help than an independent business would.

There are many similarities between single-unit and multi-unit franchise models, but investors will pay less upfront for a single-unit franchise than a multi-unit business.

Multi-unit franchising is based on the idea that the more businesses you own, the more likely you are to get more people, make more sales, save money on operations, and make more money.

Is Multi-Unit Franchising Right for your business in India?

Multi-unit franchising can be a good choice for business owners with a lot of experience, but it has more problems than a single-unit franchise. Keeping this in mind, it’s important to be careful in your quest and make sure you have the skills, money, and time to make the jump.

Still, if everything is in place, running a multi-unit franchise is a great way to grow your business, make more money, and leave a lasting memory.

FAQs

Q.1. Are there any disadvantages of multi-unit franchising in India?

Every business has certain risks, so the more units you have, the more the risk.  Unless you have experience in leadership it could be more difficult to manage things effectively.  Keeping in mind that you have more than one unit, you need to ensure having sufficient investment as well.

Q.2. What is the advantage of multi-unit franchising for the franchisor?

Multi-unit franchising gives you the chance to build a bigger management team and use them in more than one business. You can also save money on advertising and marketing for all of your sites and make more money by selling more.

In conclusion,

Multi-unit franchising could be a good choice for you if you have the knowledge, experience, and drive to take on challenges. You can build a large business with the help of people, partners, outsourcing, and hard work.

Contact us at Sparkleminds to know how to franchise your business in India right away.

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Fitness Industry in India – Market Size, Latest Trends & Opportunities – Plan to grow your fitness business in India – Now’s the right moment!

Written by Sparkleminds

You are a business owner running a successful Fitness business in India, and now wondering if it is the right time to consider franchising it.  Yes, this is the perfect time to adopt the franchise business model to expand your fitness business in India. 

Read the article to know more about the fitness industry performance in India, what makes the Fitness Business a profitable opportunity to grow and trend drivers that are setting the market high for business expansion in India.

How Covid Changed the Fitness Business in India?

According to studies, there has been a shift in the way the Indian populace thinks, acts, and lives. There was an almost 60% rise across the board from the 2019 study to the 2020 survey, with 26% of Indians engaging in yoga, 11% in cardiovascular exercise, and 10% in body-weight exercises.

In addition to people’s rising interest in health improvement, the recent epidemic has spurred a rise in accessible, on-demand virtual services. Trained experts are needed to teach, instruct, coach, and consult regardless of how people are enjoying fitness.

Obesity, hypertension, diabetes, cardiovascular disease, and high cholesterol have all seen dramatic increases in recent decades, and this has prompted Indian citizens to pay more attention to their health.

Due to this rising demand, there are now more health clubs, gyms, and fitness centres than ever before, driving up the demand for fitness professionals and the sales of fitness equipment.

Demand for Gyms & Fitness Business in India 2023

Statista reports that only 33 per cent of urban Indians have easy access to a gym. Twenty-five per cent of persons who stated they had never joined a gym or taken a lesson from a fitness teacher began going to the gym for the first time in the first half of 2022.

Nevertheless, all of these numbers point to a growing trend towards health and fitness in India. This information suggests demand for both personal trainers and fitness centres.

These are some factors which will encourage all those fitness business owners out there to grow their fitness business in India right away.

Factors driving the rapid growth of the Fitness Business in India

Several factors point to double-digit growth for India’s wellness or fitness market in the coming years. Let’s see some of these factors.

  1. Use of Technology & other apps – The availability of a wide variety of ways to work out and prioritise health is one of these aspects. Given the industry’s high potential and fragmented market, several investors are stepping forward to make substantial investments. Young people have begun to take health and fitness seriously because of the percolation of information made possible by the proliferation of technology and the meteoric rise in internet usage.
  2. Growing demand for Gym and Fitness Accessories – Because of the worldwide epidemic, more people are inquiring about fitness-related services and goods than ever before. Naturally, in a developing market like India, where new products and services are constantly appearing, shoppers have a greater propensity to buy what they want.
  3. Rise in Disposable Income – Younger generations’ preference for gym memberships as a result of increased disposable income is another developing aspect that can be termed a dominant trend. Young professionals have plenty of discretionary resources to spend on frivolous activities like going to the gym.
  4. Government Push “Make in India Campaign” – The “Make in India” initiative has had a significant impact on the industry because of the Indian government’s emphasis on health and fitness. While Ayurveda, meditation, and yoga have all been part of Indian culture for thousands of years, the demands of a more active and mobile younger generation have led to the development of innovative fitness technologies.

Trends that have shaped the bright future of the Fitness Industry in India

Allied Market Research predicts that by 2027, the global online fitness market will be worth $59.231 million, having grown at a compound annual growth rate (CAGR) of 33.1% between 2017 and 2027. According to the study’s findings, the proliferation of augmented and virtual reality training is another major factor fueling the market’s growth.

As a result, the fitness industry in India is being revolutionized by cutting-edge technology like artificial intelligence (AI), machine learning (ML), and intelligent wearables.

Leading Fitness Industry Trends for 2022

1. The Rise of Digital Technology in the Fitness Sector

Lifestyle changes have ensued after the outbreak. The Indian people have accepted the barricades as the “new normal.” The wellness and fitness business is not immune to the global trend of rapid technological advancements changing industries.

Amazing ideas, insights, and opportunities are springing up in the industry to help it overcome the challenges that have been brought to light. Demand for both online fitness programmes and home gym equipment was driven by COVID-19.

This has led to the emergence of a new demographic of people who value health and wellness.

2. The industry is changing due to technological developments.

With the present level of digitalization, each device provides useful information about progress and helps users keep tabs on their fitness goals in its own unique way. Let’s look at the future of the fitness business and how it will be affected by the technological changes that are already here.

  • Machine Learning – Smart people today are making strides towards a healthier lifestyle by using fitness centres equipped with treadmills, bikes, and other technologically advanced equipment. People recognized a sizable need in the market and set out on a technical journey to enhance health in a way that matched their experiences of inelegance.
  • Wearable Gadgets – Now more than ever, wearable devices are a crucial commodity. People today, however, are keenly aware of their bodies and constantly striving to improve their fitness by monitoring their pulse, heart rate, and number of steps taken.  Wearable exercise gear helps automate chores like rep counting, progress monitoring, macro tracking, heart rate, blood pressure, and other variables affecting active energy, all while increasing user motivation and creating a more disciplined lifestyle.
  • Workouts using AI – Our current period is one of extraordinary innovation. Marketers can provide cutting-edge health and fitness products thanks to AI-powered deployable data. Several systems currently available provide real-time monitoring of exercise progress in conjunction with live trainer instructions and AI-enabled tracking.

Top Trends in India’s Fitness Industry to look out for in 2023.

  1. Biohacking’s Impact on the Health and Performance Industry
  2. Online Exercise Programmes and Hybrid Memberships
  3. Fitness Related Gadgets
  4. Workout with low impact
  5. Outdoor Exercise workouts
  6. Small workout sessions
  7. Mindfulness Training
  8. Group Personalized Training
  9. Hygiene Awareness
  10. Home-based gyms

Fitness Industry in India – FAQs

Q.1. What is the future of the fitness industry in India?

Between 2021 and 2026, IMARC Group predicts the market will expand at a CAGR of 8.6%. There are a lot of variables, such as advancements in technology and the availability of various workout and health-focused options, that point to double-digit growth for the health and fitness market in India soon.

Q.2. What is the scope of the fitness industry in India?

In recent years, India’s fitness business has expanded at an astounding rate. Twenty million people searched for “fitness near me” on Google each month in 2019. In 2020, the Fitness market is expected to generate $2,190 million in revenue from 167 million active consumers.

Q.3. Why is the fitness business growing in India?

While ancient Indian traditions like Ayurveda, meditation, and yoga have contributed to a modern emphasis on health and wellness, the demands of a more mobile and urbanised youth population have prompted the development of novel technological approaches to exercise and wellness.

To Conclude,

People are getting fit in a variety of ways, including working out at home and going to gyms. As customers become more health conscious, demand for fitness centres and related products has risen. There seems to be a fitness studio popping up every day.

The fitness industry is being consolidated by several large multinational corporations, established players, and innovative newcomers from all over the world. It has also spawned novel ways of doing business and generating income.

Indian consumers may now take advantage of a wide range of services and goods that are primarily technology-based thanks to the novel intersection of fitness and digitization.

In addition, individuals are starting to take exercise more seriously as they learn more about its benefits.

All the foregoing suggests that the fitness business in India has a promising future and that its clients will be able to improve their health.  For more details on how to franchise your fitness business in India, you can get in touch with us at Sparkleminds.  Our years of expertise have helped many businesses grow domestically and globally also.

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How do I protect my Brand’s quality in Franchise?

Written by Sparkleminds

Protecting the real essence of a brand is the key responsibility of a franchise and this can only be done once he designs the right business model as well as standardizes the franchise agreement.  Don’t worry we can tell you more about this.

how to protect brand quality in franchise model
how to protect brand quality in franchise model

Brand, a constructive structure of any business thought, is made up of various elements like logo, graphics, tagline, shapes, colors, etc.  Furthermore, this becomes a defined symbol that differentiates a company providing products and services from others.  Nevertheless, this plays a vital role in creating a quick and emotional impact on customers’ minds, attracting them to the brand.  In short, a franchisor puts in many years of hard work and efforts to make and successfully establish the brand, which can be easily acceptable by a wider consumer base. 

Selecting a franchise model for expanding the business, comes with an expectation to grow and strengthen the brand across new and untapped markets. Though local partnerships bring along with them immense benefits to a company’s growth, it also has a risk of brand dilution. Thus, it is the responsibility of every franchisor to guard his brand against the risk of dilution though he wants to leverage it to sell as much as possible.  But remember, the strategies used to pursue this end often bring the danger of tampering with the quality of the brand.

What is Brand Dilution?

No business model is perfect.  Though this is also known as the weakening of a brand, this can also happen by overuse or because of ill-judged brand expansion, resulting in undue competition or price cutting, in turn, hampering the brand image.  Thus, companies need to maintain uniformity throughout all their stores or network, be they company owned or franchised, to maintain the quality of the brand.   This can be done, by SOPs (standardizing operating processes), uniformly keeping the store interiors, uniformity in HR or other company policies or not to forget even the accounting and reporting systems.  This will thus protect the originality of the brand, which is the primary task of the franchisor.

How does a Franchisor protect his brand’s quality in Franchising?

Difficult to accept, but brand tarnishing is an unfortunate reality of franchised operations.  Franchising means where a company expands its network and grows.  This growth may sound good for the franchisor, but it also weakens its control over the systems which are in place.  There may be instances when you must compromise on the quality of the product or service.  This results in a loss of customers and gradual market share.  A franchisee owner usually thinks about what he is going to do best to grow his business and, in such times, he may fail to adhere to the systems set in by the franchisor, which will eventually lead to damaging the brand image locally.  To put a stop to this tarnishing, it is only the franchisor who can do as much as possible to save the reputation of his brand.  And the best solution against brand dilution is the franchise agreement.

A franchise agreement can help franchisors to get over the risk of brand tarnishing.  Before recruiting a franchisee, the franchisor must prepare a good quality legal agreement using the guidance of a knowledgeable person who knows both legal as well as commercial aspects of franchising.  Using this tool makes it mandatory for the franchisee to operate the franchise strictly under the adherence and system laid out by the franchisor.  However, as instructed by the franchisor, the franchisee should advertise and promote the brand.  Emphasis on the use of a common brand name, logo, identity, and quality with a regular inspection plan of tours to the franchisee can also be laid out in this agreement.

Uniformity across the Franchise System

By uniformity, we mean using a common name, logo, identity, and color theme.  But that’s not all that requires uniformity.  The franchisor needs to ensure that the pricing of the products should also remain the same as discussed by the franchisor which would be standard across all the franchisees.  When a customer comes to a particular brand franchisee, he expects to obtain the same look n feel, and comfort that he would have experienced at the original outlets.  Keeping these aspects in place, would make the customer experience far better and keep them coming back to give you more business. 

Key Takeaways

Protecting the brand quality is a step taken usually when you first develop your business.  But in the case of a franchise model, it is harder because it is in the hands of the franchisee to keep the integrity of the national brand image at the local level.  Thus, right from the time you have finalized your franchisee, it is imperative to reinforce the brand image continually before it becomes too difficult later.  Continuous efforts from the franchisor’s end are thus an important point to protect brand dilution.  Still confused?  Don’t worry, sparkle★minds will help you gain clarity!  Connect with us today.

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Should I Franchise My Business? 5 Signs the Answer Is Yes!

Written by Sparkleminds

India is a “sizzling” market for franchising. Take a stroll through any Indian metropolis or upcountry market, and the bustling markets will greet you with the best top brands. While the Indian economy has seen many ups and downs in 2019, the franchise industry has had a busy year. Since 2013, franchising in India has grown fourfold and is now valued at USD 50.4 billion. The majority of this expansion can be attributed to professionals, particularly those with an IT background.

The Indian franchising industry is growing at a rate of 30-35% year on year and is expected to reach USD 100 billion by 2024. With over 4,600 active franchisors and nearly 2, 00,000 outlets operated by nearly 1.7 lakh franchisees, India is already the world’s second-largest franchise market after the United States. Multi-unit franchising has increased by more than 36% in the last two years. However, the Indian franchise market is still in its infancy; the industry accounts for roughly 2% of the national GDP (GDP).

Should I Franchise My Business? 5 Signs the Answer Is Yes!
Should I Franchise My Business?

This industry is growing rapidly, so let’s answer the question should I franchise my business?

Here are the five try-and-convince signs that it’s time to turn your business into a franchise:

1. Current Resource Restraints

Most businesses choose this option when they lack the time, money, or personnel to expand their current operations. Franchising allows a business to expand without incurring new debt.

Franchisees pay the initial costs of launching the business in new locations, so expanding the current business model costs the franchisor very little.

2. Company Credibility

Companies will also choose to franchise if they have a track record of public approval. When your product is recognized as an industry leader, it’s time to take your brand to the next level.

3. Unique Product or Service

Companies with a sustainable advantage benefit from the franchise model. These are the businesses that offer a unique service or product that isn’t going away anytime soon. They (and their franchisees) can distinguish themselves from their competitors.

4. Replicable Business Model

A company that can succeed in the “next town over” is another ideal franchise. Do these businesses have systems in place to manage services on an immediate basis? Your franchise will thrive if you have procedures in place to quickly teach someone how to operate your business model.

5. Demonstrated Profitability

Franchises that can generate a return on investment of 15-20% are generally regarded as wise investments. These businesses will provide a good return on investment for a franchisee.

How to Make My Business a Franchise

If your business reaches these five criteria, it may be time to consider franchising. You can begin by taking the following steps:

Create Your Franchise Business Plan

The first step for a company that decides to franchise is to develop a franchise business plan. These plans specify how territories will develop and how quickly they should expand.

These plans should also outline the staffing and support services that franchisees will have access to, as well as any fees they will incur along the way.

Larger companies’ franchise business plans typically address more complex issues. These plans will address issues such as antitrust disputes and channel conflicts.

Expansion costs are routinely assessed so that franchisors can adjust their growth strategies.

Draft Your Franchise Agreement

Make sure you have a franchise agreement in place before opening any locations to franchisees. The franchise agreement is a contract between the franchisor and the franchisee that outlines each party’s obligations to the other.

Franchise agreements are never identical. They contain specific information about the particular business in question.

Business territories and how credit requests will be handled are two items that may be negotiated in the franchise agreement.

Develop a Franchise Disclosure Document (FDD)

The franchise disclosure document, or FDD, tells prospective franchisees everything they need to know about your business.

This document is divided into 23 sections, which franchisees should read through before signing. These sections cover a wide range of subjects, from trademarks to dispute resolution.

Identify Your Franchise Fees

Before the franchisor and franchisee sign on the dotted line, franchise fee terms must also be specified.

Typically, the initial franchise fee covers the right to use the company name and product. These fees may also include training or other on-site assistance to help the franchise get up and running.

What Are Your Next Steps?

Now is the time to ensure that your business model meets the “franchisable” criteria listed above for your franchisees to succeed. It’s also a good time to speak with a franchise attorney about drafting your franchise disclosure documents.

If you’re still wondering “should I franchise my business?” you can find more information on our website. Create a solid foundation now so that you (and your franchisees) can expand your empire and watch it thrives for years to come. To know more, contact sparkle★minds today!

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How to turn your business into a franchise?

Written by Sparkleminds

Ever felt like your business has so much potential but lack the necessary knowledge to take it to the next level well franchising your business might be the perfect solution for you. Franchising your small scale business is a great way to procure the desired business growth while minimizing other costs and tensions that comes with the expansion process. By franchising a small business, you are essentially leasing your business model, brand, and standardized operating strategies to another entrepreneur. Franchisees receive a proven business model and ongoing support in return for franchise fees and royalties. Despite the challenges of franchising, it can also be rewarding financially and professionally.

How to turn your business into a franchise?

Is Franchising The Right Move For Your Business

Franchising help you to explore new markets with the help of partners who have excellent knowledge about the local markets and ideas required to make it a success. This partnership help you to grow your business while sharing the financial liability with the franchisees, which arguably reduces the franchisor’s risk. But how do one know if his business eligible for being franchised?

Here are a few things to be analyzed to determine whether your business is fit for franchise.

Good ROI. Establish the profitability of your business and demonstrate that someone investing time and resources can expect a similar return.

Simple operations. Is it possible for someone else to follow your playbook and succeed? Start by streamlining your operations without compromising quality or ROI, if the answer is “maybe.”.

Support. Could you support someone else’s franchise needs as they establish their own business? Now you will be supporting someone else and setting him or her up for success instead of running a business. Put together a team that can make this happen.

On analysis of the above factors if your are confident that you can provide these services to your franchisee then you can move forward towards franchising your business. 

Once you have made up your mind about franchising following these steps might further simplify the expansion process.

1. Make a detailed study about the market you are expanding to. Make the 1st phase marketing plans that needs to deployed at the same time the franchise is being set up to attract customers. Develop a growth plan and think strategic ways to increase growth.

2. Put your business operations into a step-by-step plan that you can easily follow. From the time you purchase the opportunity through the financially successful completion of the first year or two of franchise operations, you should cover as many operational aspects as possible.

3. Consult a franchise lawyer or a professional familiar with franchising of business entities before drafting your franchise contracts, leases, and royalty agreements.

4. Make sure your franchisees are guided by a service and support team. Franchisee concerns can be addressed by your service and support team, and quality control can be ensured by them. Maintain high internal quality standards and establish service standards.

Ensure That Both Parties Enjoy The Benefits Of Franchising

One of most iconic features of franchise business is that both the parties share the equal amount of risk and benefits. This shared model of the franchise business provides benefits for both the franchisor and franchisee alike. 

Both parties benefit from the joint venture, as the franchisor receives capital to expand the business and the franchisee receives knowledge from the franchise company to ensure success. As a franchisee, this means having a trusted partner who has done all the work to deliver a package that you can build upon with your own hard work and contributions.

When searching for a franchisee, look for someone who is financially stable and has proven business acumen, as well as someone who will follow the system you establish. There is more to finding the right franchisee than just that. Franchise BAZAR helps you to connect with prospective franchisees for your business.

Establish a well-defined company culture if you haven’t already. Once you have established a culture search for people who have the ability to mimic what you have put in place. The people you are going to tie your hands with should have a clear love and passion for the industry you are in. If you are unable to find the right guy or make a mistake while evaluating a person, none of the above-mentioned factors matter. 

The franchise sector in India is one of the largest in the world, the sector has estimated valuation of about 200 million dollars as of today. Apart from this India has one of the world’s largest younger population in the world the young population raises the demand for more services that can meet their demand this in turn opens up the franchise market for more players.

Over 500+ clients  have achieved great  business results with sparkle★minds , so what are you waiting for? Get in touch with us now!

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How to end a franchise agreement Gracefully at Contract Renewal?

Written by Sparkleminds

Generally speaking, franchisors and franchisees have positive relationships. However, in rare cases when the relationship between a franchisor and franchisee does not feel right, terminating the Franchise agreement at renewal time may be the most beneficial move.

How to end a franchise agreement Gracefully at Contract Renewal?
How to end a franchise agreement Gracefully at Contract Renewal?

This Blog will explain how to end a franchise agreement, some common reasons why franchise contracts don’t renew, and some top franchisor tips for ending a franchise agreement gracefully. 

Reasons to avoid franchise agreement renewal 

Franchising involves a lot of decision-making and responsibility, and it isn’t always easy. The key to a successful franchise operation is finding fantastic franchisees who will support your vision and make your life easier. Two ways exist for you to end a business relationship with a franchisee if you feel you’ve found the wrong franchisee:

Termination of the franchise agreement – The agreement is canceled before the end of a franchisee’s contract term.

Non-renewal of the franchise agreement – The agreement is not renewed at the end of a franchisee’s contract term.

To make the best decision, you’ll need to have a thorough understanding of the different franchise renewal rights available to you. A franchisor can terminate or refuse to renew a franchise agreement if a franchisee has committed a “repudiatory breach”.

When a contract is breached by a repudiatory breach, the non-defaulting party is entitled to terminate the contract and is thereby released from its terms. As there are risks if you get it wrong, it’s important that you are certain of your position. —Eldwick Law

Examples of contract breaches that would fit this bill include:

  • Failure to obtain the correct licenses
  • Being involved in illegal activities
  • Failure to pay franchise fees or royalties 
  • Bankruptcy
  • Neglecting to follow franchisor guidelines, such as operations instructions and branding and marketing guidelines

How to end a franchise agreement 

You can terminate a franchise agreement by:

1. Ensuring you have the right to do so

Depending on what kind of breach you are dealing with, this step will differ. The law of contracts gives different weight to different clauses, and some situations will be more clear-cut than others. Whatever you’re dealing with, be certain that you have the legal right to terminate or reject renewal before you reach out to the franchisee and get the ball rolling.

2. Notifying the franchisee

The following information should be included in your breach notice to your franchisee:

  • How the franchise agreement terms have been violated (or breached), and the nature of the breach (or breaches)
  • A timeline for making reparations, as well as information about how the breach can be repaired (if this is possible)
  • There must be a clear statement that if the breach is not resolved, the franchise agreement will be terminated

It will no longer be possible to terminate the franchise agreement if a franchisee resolves the breach or breaches you’ve mentioned in this notice.

3. Tying up loose ends

The franchisee must pay any outstanding fees when leaving the franchise, and must return all paperwork and documentation regarding the franchise. At this point, a franchisee may also be required to sign an agreement promising not to start a competing business within a certain period.

There are four tips franchisors can use to end the franchise agreement in a conflict-free manner

  •  Always seek legal advice early

Get legal advice as soon as possible if you are uncertain whether you have a case for termination. Regardless of how simple or clear things seem, seek legal advice immediately. Do not contact your franchisee with a breach notice until you are absolutely certain you are in the right. Franchisees who wrongfully terminate agreements are likely to make legal claims against you, causing financial and reputational damage to your entire company.

You will be able to determine your next steps with the help of legal advice. The contract can be terminated immediately if a serious breach has been committed. The franchisee might also be suspended pending further investigation if your legal advisor advises you to do so.

  •  Turn to forced termination as the last possible option

Before terminating your franchise, communicate with your franchisee and offer ways to resolve the issue. Try to reach an agreement with your franchisee about the terms of their exit once you’ve decided definitively that you will be terminating the agreement through a forced termination. If you can do this, you’ll both come out of the relationship better off.

A new franchisee might be interested in buying the franchise location, for example. Therefore, the franchisor will lose less income and the franchisee will likely get back at least some of their investment. 

  •  Show your willingness to compromise 

Consider your situation carefully if you must choose between losing a one-time sum of money and ending your relationship with your franchisee without conflict. Despite the monetary loss initially appearing to be more problematic, it could solidify the good reputation of your franchise. 

You’re much less likely to lose a franchisee if you show your willingness to compromise during negotiations and be mindful of their needs.

  •  End things on a good note

You should also do your best to end negotiations on a positive note. It is still highly recommended that you behave politely and professionally in the final stages of the franchise agreement, even if both parties have experienced difficulties during the process. This will reduce the chances that a franchisee will attempt to take legal action against you (whether this legal action is valid or not).

Effective franchisors prioritize their franchisees

The franchisor’s role includes prioritizing franchisee satisfaction as one of its most important responsibilities. Franchisees who are happy are hard-working and do their best to help your business succeed. 

Sparkleminds can help you franchise your business both nationally and internationally. It has helped more than 500 businesses in franchising their businesses. So, what are you waiting for? Connect with us today!

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How to Franchise your Supermarket Business?

Written by Sparkleminds

Several new players entered the Indian retail industry, which has become one of the fastest-paced and most dynamic sectors in the country, accounting for over 10% of the country’s gross domestic product (GDP) and about eight per cent of employment. India is the fifth-largest global retail market.

Globally, India ranks 73 in the Supermarket business-to-Consumer (B2C) E-commerce Index 2019, published by the United Nations Conference on Trade and Development. India is the world’s fifth-largest retail market and ranked 63 in the Doing Supermarket business 2020 report published by the World Bank.

The world’s fifth-largest retail market is located in India. In the FDI Confidence Index, India ranks 16th (after the United States, Canada, Germany, United Kingdom, China, Japan, France, Australia, Switzerland, and Italy).

Let’s get started. By the end of this article, you will be clear on How to franchise your supermarket business.

How To Franchise Your Supermarket Business In India?

Can franchising help me grow my Supermarket business?

It is possible for Supermarkets to obtain a franchise that increases revenue, grows the brand image, or adds multiple locations with little time and money spent on operations.

It is possible to create franchises by developing an operating system that can be taught to other Supermarket businesses. Franchisees will be the owners and operators of their own franchised Supermarket businesses. Time and patience are necessary as this process takes a long time, involves substantial upfront costs, and is not easy.

Developing a franchised Supermarket business can lead to a larger Supermarket business if you have the right concept, proper planning, and sufficient capital to get started.

How to Franchise a Supermarket business?

Franchises can be an excellent way to maximize Supermarket business growth while minimizing the overhead costs involved with opening additional locations. In a franchised Supermarket business, you are leasing rights to your model, brand, and Supermarket business strategy to another entrepreneur.

The franchisee receives a proven Supermarket business model and ongoing support to ensure success in their Supermarket business venture in exchange for the franchise fees and royalties paid to you. Franchises for Supermarket businesses can be challenging, but they can also be professionally and financially rewarding.

Before franchising your Supermarket business, here are a few things for you to consider:

  • Analyze Your Supermarket business

It is in your best interest to analyze your Supermarket business while you are still determining whether it is ready to be franchised or not. You may want to expand after anything is settled, but that does not mean your Supermarket business should become a franchise. 

Even if your Supermarket business lacks some capital, if it has characteristics like high demand and repeatability, then it is a green light. Analyse these three factors before leaping into the fireball.

  • Organise Your Supermarket business before Franchising

When you franchise, you hand over your Supermarket business to someone who has never heard of your system. Although a prospective franchisee might not know a thing about your style of doing a Supermarket business, he or she might be able to run your franchise effectively. 

Therefore, it becomes necessary for you to understand your Supermarket business system so that you can train others on it. To accomplish this, there should be a process that outlines exactly what your Supermarket business does.

For franchisees, detailed instructions and procedural guidelines are crucial to getting the Supermarket business up and running. From marketing to signage to staff training, everything needs to be streamlined so you can construct a blueprint for your franchisees to follow.

  • Develop Legal Documentations

A franchise relationship should be nurtured by both parties abiding by legal rules to maintain a healthy relationship. As a result, legal paperwork is critical to maintaining a healthy partnership. 

Both franchisees and franchisors have roles and responsibilities outlined in the Franchise Disclosure Document.

When you’re new to franchising, you’ll need to figure out pricing, franchise agreements, intellectual property protection, and a variety of other things. In this case, a lawyer can offer professional counsel.

  • Being Selective While Choosing a Franchisee

It is just as important to research the background of your prospective franchisee (both financial and professional), their skills and knowledge, and many other factors.

Choosing an appropriate franchise involves extensive research, analysis, and interviews. Your self-made empire will be represented by them.

  • Choosing Right Locations

There is no doubt that location plays an important role in the growth of any Supermarket business. A location that suits your Supermarket business the best – from where your target customers can easily access your services, and where there is less competition – all of these things combined make a perfect location for you to start your franchise Supermarket business.

Documents required for Franchising your Supermarket business. 

General Documents required for Franchise Supermarket business:

There are two main documents required to start a franchise Supermarket business. These are the Franchise Agreement and Franchise Disclosure Document (FDD).

  • Franchise Agreement

The franchise agreement is a legal document that establishes a contract between the franchisor and the franchisee, outlining their respective responsibilities and rights. 

The goal of this agreement is to keep the franchise system’s integrity. Transparency and conciseness are hallmarks of a good franchise agreement. A good franchise agreement addresses the following issues:-

  • Initial & ongoing franchise fees
  • Timelines for commencing the franchise for Supermarket business
  • Franchise territory protections (if applicable)
  • Detailed information about the inventory, equipment, supplies, and supplies. 
  • Rules on whether the franchise can be transferred to a third party as part of the renewal agreement.
  • Conditions regarding the termination of the agreement
  • Post-termination obligations
  • Non-compete agreements
  • Min. sales requirements
  • Arbitration for Disputes settlement
  • Franchise Disclosure Document

The Franchise Disclosure Document (FDD) should be written by current legislation. The law requires the franchisor to provide the prospective franchisee with an FDD before he or she can sell a franchise.

There are no separate laws governing franchised Supermarket businesses, so franchise agreements are primarily contractual, making franchise agreements a critical component of the Supermarket business world.

Additionally, the type of franchise arrangement and the sector in which the franchise operates can influence several other laws that apply to franchise Supermarket businesses.

Is Your Supermarket Business Franchisable?

When considering whether to franchise a Supermarket business, franchisors should consider the five franchise ability factors listed below.

  • Is your Supermarket business successful?
  • Is your Supermarket business scalable?
  • Is your brand protectable?
  • Are you committed to growing a franchise system? and
  • Do you have the right budget?

Below we have discussed them in detail. 

  1. Is Your Supermarket Business Successful?

Franchises are about taking yourself, your brand, and the systems that have allowed you to make your Supermarket business a success, and replicating these systems for new franchisees. Your Supermarket business must be successful and a track record of success is a must.

  1. Is Your Supermarket Business Scalable?

Your Supermarket business is scalable if you can replicate it successfully through franchise partners. Here are some scalability questions to think about:

  • Are you able to teach franchisees how to offer the same products and services that made your Supermarket business successful?
  • Do you have systems in place to ensure franchisees maintain quality standards and customer service consistency?
  • Are you able to deliver the necessary products (for example, ingredients and branded packaging for food service Supermarkets businesses) and support systems for franchisees?
  1. Is Your Brand Protectable?

It is important to protect your brand as a franchisor since it will be the most important asset you license and convey to your franchisees.

If you wish to protect your brand, you must obtain control of your trade name and Supermarket business name – at the most basic level, you should register your trademark with the United States Patent and Trademark Office (USPTO) and control the website domain name for your brand. Brand protection questions to consider:

  • Does your Supermarket business trade name have a USPTO registration? If not, is it possible to obtain a USPTO registration shortly?
  • Do your competitors have almost identical brand names, i.e., is your brand name generic?
  1. Are You Committed to Building a Franchise System?

There are many times when the most successful franchise system is not the one with the best ideas, products, or services, but the one with the best execution and commitment to the development of the franchise system.

Whether you’re starting as a one-person company or a team of four, the success of a franchise and the franchisability of the Supermarket business are connected to the degree of commitment you have to build a franchise system. Questions you need to consider:

  • Is it possible for you to construct a franchise system that grows over time rather than overnight using 1-, 2-, and 5-year plans?
  • Are you of the opinion that franchise success is much more dependent on focused execution than on huge ideas?
  • Is franchising a natural progression from the success of your company and your desire to expand and grow?
  1. Do You Have the Right Franchise Budget?

As with any new Supermarket business, launching a franchise requires the right budget and capital to grow. Shortcuts do not work.

To franchise your Supermarket business successfully, you need to know your franchise goals, how quickly you want to reach them, and how much money you need to reach them. You should not think of launching your franchise system as the end of your financial planning. Here are some questions to consider:

  • In what way will your franchise system be priced that includes a Franchise Disclosure Document as well as an infrastructure that is unique to your Supermarket business and your franchise system?
  • Would you like to know the cost of protecting your brand and trademark? 
  • Would you like to know the cost of registering your FDD in the franchise states you are targeting?
  • After you launch your franchise, how much will it cost to maintain your FDD and your franchise registrations? 
  • How much will it cost to market your franchise system and sell franchises after you launch your franchise?

You can get in touch with sparkle★minds if you wish to franchise your Supermarket business. Numerous clients of sparkle★minds have benefited from franchise assistance. sparkle★minds has more than 20 years of experience and has assisted more than 500 clients in franchising their companies. Contact us right now!

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Why franchising is the ideal form of expansion – Know the expert’s opinion.

Written by Sparkleminds

Why Franchise your Business?

You might be aware of the term “Franchise” or “Franchising”. So ever wondered how to become a franchisor and expand your business across the world? Yes? then you would be glad to know, business owners tend to adopt a franchise model than starting company-owned outlets.

Hence, your business has to set a milestone and understand from where you could start expanding. Because when you decide to expand, it can cost you a lot and being a startup, it becomes hard. Thus, the franchising model comes into the picture. If you opt for franchising; your major part would be to design a franchising model for the business. Once the model is ready, you are good to start with the expansion of business in the desired demographics.

Sounds easy? But this takes a lot of research about the territory, market demands, cost calculations and more of brainstorming. Furthermore, the biggest task is to find the appropriate business seekers as a franchisee. Therefore, the team of Sparkleminds comes in picture. We not only help you in designing the franchise model but also help you choose the most suitable one.

Should I Franchise my Firm?

Pondering upon should I franchise my business is common among business owners, regardless of the age of the business. The best way to upgrade your knowledge on this is- reading on topics or a discussion with a professional in this field. Sparkleminds has over 2 decades of experience in this industry. We provide complete support to growing/established entrepreneurs to learn about how useful it is to expand via franchise.

Is it the Right Time to Franchise your Business?

An entrepreneur must understand the right time to franchise one’s business. It is always great to start looking at franchising your business. Start the process only when your products or services have been accepted by the public, the market.  Moreover, the target audience is well defined and generating revenue for at least a year. There are a few products and services which are hard to franchise, but with our expertise, they are also franchise-able.

Start Franchising

One of the biggest dreams of an entrepreneur is to establish his/her business in every city across the world. It takes time and effort to reach that stage, in the industry you serve. There are a few points that need to be kept in mind before you start franchising your business:

  • Do you have a Set Business Model?
  • Do you have you the investment and Documentation in place
  • Is your brand marketable and Ready to be Adopted?

Is Your Business Franchise Ready?

There are 10,000 + companies in India that have used a franchise model for them for expansion. There are also close to 5000+ companies which are going to join the bandwagon in the next 12-24 months with this, the market is at a pedestal to offer a variety of franchise opportunities to the entrepreneurs to start a business.

Franchising is the most preferred ways to expand business in their home country and countries across the globe. Business expansion via the franchise mode has proven to be successful and effective, for large companies as well. Big brands have believed franchising as a successful means to expand base be it a mid-size or a small company

So, now you know the potential of franchising and what it can do to help you expand your business. Let’s start with the evaluation check of your business. You could also take the franchise quiz at Sparkleminds to get a score of where your business stands currently and whether you are really ready to start franchising.

  • Requirements to start a franchise

There are a few criteria’s that need to be in place before one looks at franchising their business.

Model Development

  • The first part is to have demonstrable success in place. You will need to have a few outlets, at least a couple, that are already profitable and have been running successfully for at least 12 months. This creates the base for the franchisor to learn and adapt to the customer requirements. In case the franchisor wishes to have the first outlets through franchises, then they may need to invest additionally from their end in the first couple of franchises until they have cracked the success formula and have at least one year of profitability in place for every individual outlet that is operating.
  • Legal Identity – It means that if you are selling a product or a service it is required to have a trademark/ service mark for the same.
  • Business Prospective – The business venture should be set up on long term goals and should be in a position to sustain for the next decade or more. The more unique your business, the better it will be Franchisable.
  • Franchisee Guidance – The business model of the venture must be easily explainable or teachable to the franchisee. The franchisor should be well-versed with the intricacies of the business, and should be in a position to give all the required training to all its franchisee and educate them on running the business successfully. The, required skill-sets for the franchise to function effectively should be taught to every franchisee owner and the skills should not be limited to the original franchise owner.
  • Resource Provision – The Franchisor should be able to provide brief information about the business along with the costs that could be incurred while setting up the franchisee. It is a must for a franchisor to abide by the protocols of the franchise business. Once the business is performing good, the franchisor can collate the operations and prepare a manual for further use.
  • Team Managing – The franchisor should be able to hand costs of the new franchisee and also train & educate them on spending the right amount of money to pay salaries or recruitment of employees etc.

How to become a franchisor

The process of expanding business starts when you have successfully established your first outlet and have a huge database of happy and satisfied customers. This is when you should look for other locations, markets and (or) cities for expansion. While making the plan, conduct the research about your requirements and the optimum locations for reaching out to the right customers.

Since India is well-diversified there are high chances of the products or the service to be accepted in other cities and expanding the market base. There are a lot of ways to expand your business in India i.e. Joint Venture with existing businesses, own stores or franchising to interested franchisor.

The most preferred method of expansion is by reaching out to the franchise consultants. So, if you want to contact one of India’s most experienced consultants then Sparkleminds would be the ideal platform for you. The Franchise Consultants at Sparkleminds can help you understand the potential of your brand, and also provide valuable insights on how to franchise your business and make the franchising process easy for you. We have been in the industry for over 20+ years and have worked with a plethora of brands. At Sparkleminds we have understood that every brand is unique and need a customized franchise strategy, support for the same.

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Franchise model is the best business expansion strategy!

Written by Sparkleminds

Franchise model is the best business expansion strategy!

Franchise

A franchise is an authorization granted to a company or an agency for specified business activity in accordance with the standards set by the franchiser. When a business is expanding as a franchise it is necessary to carefully configure the franchise agreements. The terms and conditions are to be well thought out. All the possible conflicts and should be addressed beforehand. Experts with a foresight into all possible conflicts are the ones who will be able to configure it and there are no better experts in creating a franchise than the franchise consultants at Sparkleminds. Sparkleminds can recognize a profitable franchise beforehand and help companies create brands which they will be able to give as a franchise. The royalties that a business will enjoy by giving out a franchise will increase the value of its shares manifold.

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