Index.php

From Vaporstory

Can the organization model be simply taught? There is no point in having a lucrative enterprise chance if it can not be duplicated by your franchisees. A training package must b...

The very first step in franchising your organization opportunity is to start by analyzing your enterprise model. Is it profitable immediately after permitting for your franchise costs? If it is profitable and has effectively defined objectives to exploit the opportunities in the market place then you are ready to move to step two.

Can the business model be very easily taught? There is no point in having a profitable enterprise opportunity if it can not be duplicated by your franchisees. A instruction package must be devised that assumes that the franchisee has no prior business expertise.

Step three is to generate a comprehensive and nicely laid out operators manual. This should be divided into two components: 1 section for the franchisee and 1 section for the personnel of the franchisee.

Step four is to decide on the initial franchise fee and the ongoing royalty payments. In the initial stages of launching the enterprise franchise, the franchise fee will have to be kept at a really low level to entice the first batch of franchisees. Once you have some franchisees operating successfully then you will be able to increase the initial payment.

Step 5 is to generate an ongoing help program for your franchisees. Some will require far more support than other individuals. A few will require far more training. You will want to determine at this point who is going to really carry out the training. Several franchisors outsource the education aspect to a qualified instruction organization. This indicates that they can concentrate on the essential aspect of operating and managing the company.

Step six is to devise your franchise agreement with the aid of a decent franchise lawyer. There is no point in cutting costs as this will finish up being the cornerstone of your enterprise opportunity.

Step seven is to produce all the marketing material such as brochures and video presentations to industry your franchises. You will also need to have to decide exactly where you are going to marketplace your organization opportunity. There are now a multitude of mediums where you can promote your franchise ranging from franchise exhibitions, franchise magazines and franchise internet sites. Many firms even advertise their franchise providing in the national press.

Bear in mind that the above steps will be beneath continuous improvement as the franchise network grows. All the advertising and marketing material, ongoing support and instruction will have to be developed as weaknesses are discovered.

Some of the franchisees will have to be treated like children as they will never have managed a enterprise ahead of. Not only will you have to teach them how to mange your franchise but in some instances you will have to also train them into how to use a computer and standard accountancy skills.

Ultimately, a program will have to be developed to deal with franchisees that are considered unsuitable after they started out managing their company. No matter how extensive the recruiting programme is, it will be very tough to weed out all the unsuitable candidates till they in fact begin running their company.

Obtaining the right franchisees, coaching them appropriately in all your systems and delivering total ongoing assistance really should minimize the numbers who finish up failing as organization owners.