Franchising is the commercial affiliation modality through which a franchisor, the one who holds the know-how, allows other franchisees to open points of sale of his own Brand and obtain the same results. (if not even greater)
Let’s see how to create a franchise and advertise it.
Before even creating a franchise, a local business must have some important milestones, which are:
- Market differentiation: it is not possible to enter a franchise with an activity that does not substantially differ from competitors; because it would lead to failure;
- Profitable economic accounts: the business to be able to develop in franchising must do numbers, large numbers !;
- Standardized marketing plan: marketing must be the driving wheel of the business and have a plan of procedures;
- Operative manual: in which to insert everything that is done in the store, from when it opens to when it closes
If you have these 4 points, you can start working on franchise development.
To create and advertise the franchise here are the 7 points to follow:
- Franchising Plan: drafting of a 3-5 year expansion plan to measure the feasibility of the project;
- Franchise agreement: to subscribe to the commercial affiliation;
- Definition of entrance fees and royalties: the two sources of income of the franchisor;
- Profitable economic accounts for the affiliate: to see if, despite the entrance fee and the royalties required, it manages to make a considerable profit;
- Affiliate Search Marketing: to advertise the franchise without shooting at random but with precise strategies;
- Training Academy: to train future franchisees and make them independent;
- Support team: structuring a team that helps the franchisee in times of difficulty
Source: RSS DiariodelWeb.it Sport by www.diariodelweb.it.
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