Every now and then we come to a point in our lives that we think if opening a business is going to be a safe option to explore or not. Even if we do decide on it, we fear about the most common things which involve in a business. Those are investments, managing operations, People Soft management and of-course scaling your business.
The how’s and when’s drive us into the lane of sticking to the corporate life, the so called safe net of our futures. The same fear goes out for franchising but let me assure you that it’s a myth. The successful chains have devoured the chances of micro-entrepreneurs due to their soaring investments and high end operations.
LINQ Stores is a new franchise trend in India where biggest Retail & E-Commerce companies come together under one roof to sell their crore worth products. Especially in lower-tiered cities, a business with the least investment possible and also with a ‘Zero Inventory’ concept is giving a ray of hope to the thousands of micro-entrepreneurs in every fork division of the country.
According to certain reports, franchise businesses have a history of creating employment faster than any other businesses on a national average. This trend isn’t going to fade any soon. So, before you take that decision of opening a business, below are the top reasons to open a franchise in your own city or town.
A proven business model
A company decides to franchise its business only when it’s proven at an optimal level. They have done their ground work far before they came to a conclusion of expanding their business. If you aren’t pro sales and marketing, taking up a franchise is the best way to put your foot forward. The operational processes, customer relation management and everything else is tried, tested and confirmed.
Brand Attachment
Brand is nothing but a feeling towards the company. This feeling is the kept at the highest regard by every successful company. A brand is also associated with the success track record they have achieved. An inch of dirt is a equivalent to a splash since a feeling is generated by an entire community of people and more who love the ideology as deeply as an employ of the company. It’s more than a memorable logo; it’s a perception of people for the company’s customer service, products and reputation. The trust associated with the brand reduces the customer acquisition efforts and brings out time for improving the operational excellence.
Provision of Services
The next big reason is the services of finance, marketing, real estate assistance, construction assistance that the company provides to each of their franchisor. An independant company takes years to build these from ground up. This not only speeds up the process but also is a complete hassle free situation while running the business.
Operational Support
The unrivalled depth of data and knowledge of their concerned business is what is shared with every franchisor. The company is nothing but a mentor for every program implemented, every process change and for the business administration tips. Better your operations, better your sales and customer satisfaction. Toyota was known for its operations till date and their aim to have zero errors in their manufacturing has bought them the success that we just may dare to dream. As Ray Kroc, Founder of McDonald says, “The quality of a leader is reflected in the standards they set themselves”, as a franchise owner, you should strive to get the operations right so that you lead in your region.
Ease in Sales
With brand power, comes sale. Sales is the key to a business success. Franchises have the power of using the company’s name to gather revenue which they target for. Selling something is an art in itself. A knack for sales is a must for everyone who wants to run a franchise but with the connection already in place by the company, a conversion is much easier.
That’s all about the reasons to get a franchise in your town. May this help you to understand the benefits of doing so. If you have any other ideas, please share with us.
