Franchising in the marketplace is getting attention. Franchising recognizes the need for marketing. Franchisor and Franchisees would agree that they would have a monthly budget for marketing. In Franchising, corporate image and branding is of prime concern. To be successful when you launch a new outlet of your Franchising, you need to consider soft-launch and get a feel of consumers’ preference. Franchisor needs to be flexible for local taste and choice.

From the soft launch and market response, a more detailed marketing campaign shall be in place. The plan for official opening includes the promotion items that attract consumers or the targeted clients. Likewise Franchising is based on the strong relationship and common goals. Therefore, shall share plan and action to achieve the best result.

Franchising and marketing works hand in glove. Franchising provides the expertise in operations manuals and service standards. Marketing provides the strategy to pull customers and have favorable buying experience.

Franchising would offer the layout of the outlet. Obviously you would have selected the appropriate location and negotiated a reasonable lease for your opening of this outlet. Franchisor would offer expertise in getting the right equipments; counter setting and Point of Sales (POS) system.
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Franchisor grants you the permission to use their brand, their operation manual. In return, you promise to share the profit with the Franchisor. Generally, franchisor would get a percentage of sales, be it gross sales or net sales. For some Franchisors, you may need to take their products.

You need to know what to do when you want to take off.

1.You need to establish the work plan as part of your franchising operations strategy.

2.You shall get commitment from your franchisor on the time series of action.

3.You would monitor the type of customers you are serving against the customers you intend to attract. This is part of the Franchising strategic plan.

4.You may monitor your inventory especially you are taking the products from franchisor. What can sell and what are not moving.

5.You may track the operation hours that have the most customers and how your staff handles the situation. This would help you to establish the opening hours.
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“Franchising” is a hot topic even during recession time. You may ask why business owner want to authorize us to use his “Brand” and “operational manual” to run the business. Won’t they be under a risk?

Franchising model has established itself as a viable business model. I was reading about the different approach to this model. Before going into the details, let’s see what the benefits for Franchisor as well as for Franchisee.

We noted that the Franchisor would need to register the brand as intellectual property and protect its interest. With the standard operating manual, the business can be kick-off in the start-up in the shortest possible time. If you were going to be the Franchisee, surely you want to look into the financial aspect. The questions that come to my mind would be:

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