Your Guide to Everything in Franchising

How to avoid the drawbacks of franchising.

Posted by Francorp Middle East on Nov 12, 2017 5:10:49 PM

 

You might have noticed some drawbacks stated when researching franchises. However, there is a way to avoid these aforementioned drawbacks…

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Topics: Franchise Your Business

Advantages of Franchising - for the franchisee

Posted by Francorp Middle East on Nov 1, 2017 11:56:27 AM

A Franchisee is an entrepreneur without an abundance of risk. This is due to the fact that they are buying into an already established and proven concept, one that has made it past those crucial first 12 months whereby 80% of businesses fail. Not to mention the prebuilt customer base which would make it more accessible to continuously operate.

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Topics: Franchise Your Business

Advantages of Franchising - for the Franchisors

Posted by Francorp Middle East on Oct 22, 2017 4:37:07 PM

Franchisors have an established concept, one that has successfully survived and thrived in its respective industry.

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Topics: Franchise Your Business

Why Hire A Franchise Consultant?

Posted by Francorp Middle East on Oct 3, 2017 4:39:15 PM

A franchise consultant can tell you if your business is even franchisable and can assist you in developing the business plan, legal documents, operation manuals, marketing strategies and materials, and guide you through the process. But be sure to get references before you sign on the dotted line.”

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Topics: Franchise Your Business

Financial Controls

Posted by Francorp Middle East on Sep 24, 2017 2:32:10 PM

Good financial controls are essential to any operating system. Small companies that do their own bookkeeping or accounting should incorporate accounting categories that allow both you and your franchisees to monitor accounting and performance data on a "real-time" basis.

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Topics: Franchise Your Business

How to Sell Franchise - 4: How much does it Costs?

Posted by Francorp Middle East on Oct 31, 2016 7:33:00 AM

Ray Kroc, founder of McDonald’s, once said: “The only thing you need to start a business is a customer.” While there is great truth in that statement, it is hardly the whole story. Many people are eager and able to buy franchises. They are your potential customers. But before you, the new franchisor, can get from Point A – having a business that will attract such people – to Point B – being in a position to find them and offer them a franchise – a good deal must happen.

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Topics: Franchise Your Business

How to choose the right franchisee!

Posted by Francorp Middle East on Sep 22, 2016 4:35:23 PM

You’ll do well to decide in advance what type of person you want to own your franchise. That decision, in the case of multi-unit franchisees and sub-franchisors, will not be difficult. Both are defined to a large extent by the nature of the business. Multi-unit franchisees must be affluent and highly experienced in business. Sub franchisors must be, to begin with, excellent sales people.

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Topics: Franchise Your Business

How to Sell Franchises - 3: Making the Sale

Posted by Francorp Middle East on Sep 8, 2016 1:12:43 PM

The marketing and selling of franchises differs from the traditional marketing and selling you do as a business owner. For one thing, it usually requires making three sales simultaneously. First, you must persuade the franchise buyer that a market exists for your product or services in the area they intent to locate. 

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Topics: Franchise Your Business

How to Sell franchise - 2: Tell Your Story

Posted by Francorp Middle East on Aug 30, 2016 5:42:13 PM

As a business who’s offering franchises for the first time, it all comes down to the matter of how well you can tell your story. What could you tell your prospective franchisee that would differentiate you from the other franchises? You have to give them a reason why this investment would be worthwhile. 

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Topics: Franchise Your Business

How to Sell Franchise - 1: Finding Your Prospects

Posted by Francorp Middle East on Aug 18, 2016 5:20:02 PM

There are five checklists that need to happen before you can be in a position to evaluate a franchise prospect sitting in the chair across from you. The first four points fall under the franchise marketing and fifth step is of the franchise sales process. For this post, we would talk about the points one, two and three. We will talk about the fourth and fifth point in the subsequent post.

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Topics: Franchise Your Business

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