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Financial support from company to franchise
· Example : Rent & Salary support .
Franchise assign to a good channel manager.
Recruitment, According to franchise requirement only .
Through capping potential customers & market too with good approach.
Analytical scale on progress graph.
1) direct fast money injection
2) control over low-cost expansion
3) preservance of the brand identity and value
These are the key ones
The question should be more focused, in which side are you? do you own the franchise or do you want to be a franchisee?
Franchise system is by it's own definition a successful business that can be, under certain circumstances, be replicated.
If the business is indeed successful and can be replicated elsewhere, there has to exist a method, a system or "instructions manual" according to which, the success can be replicated.
There may also exist special suppliers or the brand itself (the franchise) will supply you the goods to merchandise. (imagine a food chain that will require you to buy Pepsi or a clothes Armani chain will need obviously Armani goods).
With all the previous and providing a market research has been made, the franchise can be replicated or exported.
According to my experience, the success will be mostly dependent on:
-Carefully follow the provided system, step by step, everything, always!
-Some kind of exclusivity in the territory, city, region, country, etc...
-And the most important LOCATION, LOCATION, LOCATION. the most important decision, and the very key of any retail business is the proper LOCATION!!
-LOCATION
-Did I mention how important LOCATION is?
*Only exception on the location rule can be very niche products, name it, Ferrari cars, one will go wherever the store is to buy one! But a nice LOCATION for sure will deliver better results even in that case.
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