New,Business,Opportunity,Franc computer New Business Opportunity: Franchising Industry
Gone are those times when the companies and the organisations didn't need a hi-tech system to handle them. Owing to the considerable increase in the business sector and thus, an enormous increase in the complexity of the organisational struc ----------------------------------------------------------Permission is granted for the below article to forward,reprint, distribute, use for ezine, newsletter, website,offer as free bonus or part of a product for sale as longas no changes a
Growingcompetition and saturated markets have led many corporate entities toevolve newbusiness opportunities.Theflourishing franchising industry represents one such new businessopportunity. It is growing at a lightning-fast pace. With thepresence of a multitude of franchise options, there is enormous scopefor aspiring entrepreneurs to establish a profitable and asustainable business. This article sheds light on what to look for ina franchisor. 1.Do proper research on the industry you plan to enterSearchthe internet thoroughlyTalkto experts in the relevant field Ifany franchisees are already doing business, then talk to them aboutthe viability of conducting a business in the relevant sector Researchthe profitability of the business plan of existing companies 2.Once you zero in on the specific industry, then you need to identifythe company which offers franchises. It is generally the company withthe largest market share. You need to know the background informationabout the specific company; their vision, mission statements, andtheir present, past and future records. You need to collate this withyour own guiding principles. If there is a match, then you can safelycontinue your research on the company you decided upon.3.Once you identify the specific franchisor-company, you need to findout:Whatkind of business plan it is offering to its franchisees?Whatkind of premises will be needed (with proper specifications aboutthe required area)? Whetherit provides support to set up the business initially?Whetherit provides pre-launch, launch, and post-launch support?Whatkind of marketing tools and assistance it offers?Whatkinds of training programs are provided?Whatis the recruitment procedure for individuals and how many areneeded?Whatkind of skills-set are they looking for?Whatis the requisite initial investment?Whetherthey offer initial assistance to meet financial requirements?Whatkind of logistics-support it offers?Whetherthe charges it levies are economically viable?Whetherthere are any hidden costs?Arethere clearly defined rules with respect to the relationship betweenthe franchisor and the franchisee?Howlong will it take to actually start the business plan after makingthe initial investment?Whetherthe company spends on technological breakthroughs?Whetherit is environmentally conscious?So,you have seen that to settle for a viable, profitable and asuccessful business plan, you need to do a huge amount of research.If you overlook even a small aspect then our business may not takeoff and our aspirations might fall flat.
New,Business,Opportunity,Franc