Business Franchiseable
Can the business be replicated in individual units?
Will each of the individual units be profitable?
Are there systems in place that could be followed?
If Yes,You could well be on your way to using someone else's capital to expand your business.
Different kinds of businesses lend themselves to franchising. While Franchise In India is predominantly Education, Food and Retail, all kinds of services are now being offered using the franchise mode. Hence we see different forms of teaching and training, consultancy, entertainment, health and beauty, immigration, business services, financial services, automotive, all kinds of kiosks, vending different products, along with some of the biggest franchise brands in the world operating across various cities of the country.
We generally define businesses franchisability by the following:
The Franchisor shall Have operated a business concept with success for a reasonable time and in at least one pilot unit before starting its franchise network; Be the owner, or have legal rights to the use, of its network's trade name, trademark or other distinguishing identification;
Hence you must have a core offering in place before a franchise consultant can assist you in building a franchise company.
Why should you Franchise?
While we understand fully well that franchising is not the only way to expanding your business, we also know that there is nothing that can give you as much as franchising can.
If you have a great idea and the timing is right, franchising can help you get to the market very fast. If you have the capital to support the business, you could get the business established very soon and ensure that you have capitalized and taken complete advantage of being at the right time at the right place.
You also know very clearly that it is of utmost importance to have a successful system to be able to determine franchising, but what are the missing links that need to be in place? How do you then franchise your business?
If you think you have everything in place to get started, take our franchise quiz, go through the franchise mantra, to be sure that you do what it takes you to franchise your business. If you have a franchise idea, you'd probably like to check out the profile for a successful franchise idea.