How to Set Up a Franchise?

How to Set Up a Franchise?

The biggest area of turn-key businesses is franchises. There is franchise for every industry in the world and they are fairly easy to acquire and come with practically a pop out of the box pre-assembled system. McDonald’s is a prime example, actually a $40 billion strong example.

 There are three things to consider:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

Business Format Franchise

The business format franchise came from an earlier model called the “trade name” franchise. The big change was in the rights. During the “trade name” days the franchise owner only had marketing right’s, today franchise owners have owning rights to the entire business including systems. This has allowed for a shift in focus to go from the quality and name recognition of the products carrying the business to sales techniques that carry the business.

The Franchise Prototype

It was actually the franchise prototypes that allowed for the changes to be made that help today’s franchises really shine with the techniques developed by the owners instead of the corporation. This can make a significant difference in the success of the franchise as the owner can custom tailor their marketing and promotions to the direct needs of their local target customers.

Franchise Prototype Standards

Now, the above being said, no one in their right mind would purchase a franchise if the parent company didn’t have a solid plan of action set up to ensure the prospective success of the business. So, there are a few standards that are put into place that helps jump start the process of opening a successful franchise.

Build a model of prospective customers/clients, suppliers, creditors and employees who will consistently offer high quality work.

  1. Build a user-friendly model that can be used by individuals of any skill set.
  2. Build a defect-free model.
  3. Build a model with Operations Manuals.
  4. Build a model that will provide guaranteed, consistent results.
  5. Build a model that encompasses the same branding in color, dress and facilities codes.

These are all ways the parent corporation makes sure their brand stays the same and in the front of the minds of customers. When you are purchasing a widely-known brand you will attract customers just for being you.

要查看或添加评论,请登录

Ana Varsic的更多文章

  • How to Get A Happy Customer?

    How to Get A Happy Customer?

    In my last post I talked about how to figure out what your customers want out of a positive shopping experience. Today…

    2 条评论
  • 4 Ways To Improve Your Customer Service

    4 Ways To Improve Your Customer Service

    In the last post I talked about the first secret to building a solid customer service plan and how to decide what your…

    4 条评论
  • How To Create a Positive Customer Service Experience

    How To Create a Positive Customer Service Experience

    Customer service is a pretty hot topic and can make or break your business. Consumers have little patience for lousy…

    2 条评论
  • The Franchise Prototype Process

    The Franchise Prototype Process

    In the last post I talked about the first three of the 7 specific areas you need to consider in your franchise…

    2 条评论
  • 7 Areas In The Franchise Prototype Process

    7 Areas In The Franchise Prototype Process

    The 7 specific areas you need to consider in your franchise prototype process: · Primary Aim · Strategic Objectives ·…

  • The Best and Fastest Way to Grow Your Business

    The Best and Fastest Way to Grow Your Business

    It’s extremely important to build relationships with your vendors and those around you can bring in new…

    20 条评论
  • 3 Keys to Business Development

    3 Keys to Business Development

    There are three keys to business development. Here is how you can put the right bricks in place to build a solid…

  • Future Business Predictions

    Future Business Predictions

    This amazing article I have come across recently, was posted in 2016 by Robert M. Goldman, and although a bit long, it…

    1 条评论
  • The 12 Best Email Subject Lines

    The 12 Best Email Subject Lines

    Writing successful emails today requires creative headline writing. An email that isn’t opened goes unread.

    1 条评论
  • 4 Reasons Why Your Emails Aren’t Opened (And how to fix it.)

    4 Reasons Why Your Emails Aren’t Opened (And how to fix it.)

    Imagine this: You sent an email to your entire list and you later check to see the performance of it. You discover your…