If you are planning to start franchise of any brand , you should have knowledge about what is franchise ? and how it works.By taking a franchise of a company, you can sell the goods of that particular company at your place or in your city.The best part of it is that you neither have to make the product yourself nor worried about product quality. Because the company provides everything which requires to start the franchise.The franchisor will provide you all the facilities,you just you have to sell their goods following franchise rules.Today in this post we will discuss how to start franchise and its all aspects
What is Franchise?
In today’s time, there has been a lot of competition within the business. For this reason, the Famous brand and company offer their brand’s franchise to further grow their business. You can take franchise according to your convenience and budget.You have to follow the terms and conditions of that brand or company.
There are more than 1000 companies in the franchise business in India, which offers its franchise facility all over India. The demand for franchise business in India is increasing day by day. According to a survey, in India it is growing by 50 billion US dollars per year. Similarly, in the coming years, it is estimated that the franchise business in India will grow by 30% – 45%.
What is Franchise Business ?
Franchise business is a very good opportunity for those people who want to start their own business under a reputed brand. With the help of franchise business, you can start business at a low cost and you can also earn a good profit from it.
The best thing about Franchise Business is that you don’t require high education, you just need to understand a little bit of business and you can run any franchise business very easily.
How to take Franchise ?
If you want to take a franchise of a company, then for that you will have to first decide what category franchise you want to start and whether it can be run in your city or village. After finding out all this, you have to choose the franchise model and brand according to your budget and after that you can apply for the franchise by visiting the website of that brand.
How to select a Franchise?
Before choosing a franchise for yourself, you have to set a budget for how much money you can spend to run a franchise. Based on that you will choose your brand. Once the budget is selected, you have to see what franchise can be run in your city or village.
If you are interested in food business, you can contact the franchise of Foods. You have to tell your budget to the franchisee company, after that they will take some important information from you, such as in which city you belong,location and space etc.They will offer their franchise and they will give you a plan of their franchise according to budget.There are several types franchise like
- Master franchise ,
- Rural area franchise,
- standard franchise,
- urban area franchise and more.
Every franchise has its own rules and conditions.So before taking the franchise of any company, please read its terms and conditions.
Some popular franchise category and brands
Food and Beverage
In this, you find Domino’s Pizza, McDonald’s, Subway, Pizza Hut, Burger King, KFC, Amul, Coca Cola, Pepsi, Frooti, Etc in this category.
Education & Training Center Franchise
In this you will find famous education centers like Aloha India, TMC shipping, British Academy, Novatech Robo franchise etc.
Also read : Bachpan Play School Franchise
Beauty & Care
In this you will get franchise related to health and beauty like Jawed Habib, Studio 11, Keva Ayurveda, Relooking franchise etc.
In this, you will get related to retailer Lakme franchise, cotton king, Toy 4 rent, toys bazar franchise etc.
Apart from the above franchise, there are many other types of franchise that you can take according to your budget and convenience.
- With a good company, you can earn a lot of money by doing business & selling their product.A well established company helps to attract customers easily.
- There is no need for you to promote or market your branch. Brands and companies themselves promote your branch.
- Seeing the name of the famous brand and company, customers come and do it themselves, so there is no need to bring you customers.
- There is no difference in the ups and downs of the market value on your business because the value of the product is always constant due to being a brand.
- The first disadvantage is that the company that takes the franchise takes a good amount of money from you as a security that remains with that company as long as you run its franchise.
- The burden of loss while running Franchise also falls on you.
- Whether your franchise is good or bad, some part of the sale in your business goes to the franchise company.
- The franchise business does not belong to you, because it is subject to the company’s rules and conditions and for this reason you cannot run it according to your own
- For any changes in the franchise, you have to talk to the franchise company repeatedly because according to the terms and conditions, you cannot do any changes in it.
What to keep in mind while taking Franchise.
Before taking Franchise, you need to know the demand of that brand in the market. The money used to take the franchise and most importantly the name of that franchise in the market.
We take franchise to trade and earn profit, so first of all you have to take information about how much and how we will profit in it.
Always take a franchise on the basis of need, if a certain product ,services have huge demand in your city or village you can start franchise.
Required Documents ?
To take a franchise from a brand or a company, you need some selected documents like.
- Identity card
- Pan Card
- Aadhar Card
Along with these documents, you also need many other documents that you do not already have, so when you take the franchise then these documents have to be made.
If you want to open a fast food restaurant, then it is very important for you to have food license.
Similarly, there are many other documents that you will have to create while taking the franchise. You will get all information from Franchisor.
What is Franchise Agreement ?
An agreement is made between a “Franchise” and a “Franchisor”, which has certain conditions that the person taking Franchise has to agree .
There are also some guidelines in the Franchise agreement, and along with this, some conditions are decided by the owner of the brand so that the person who gives the franchise will not be liable to it.
Many times such things are also written in the Franchise Agreement, which can also hurt the person taking the franchise.
Therefore, whenever you sign a agreement, read agreement documents properly and sign the after full verification.
How to take a franchise
To take a franchise from a company, first of all you should go to the official website of that company and then go to that website and get detailed information about that company.If the company does not have the online presence ,you can visit their head office regarding business inquiry.
After taking the information, you should consider whether it would be okay to take the franchise of this company, if you think yes, then you can contact them by taking the contact details of that company from the same website.
You will also get their contact number on the website of the company giving the franchise, on which you can call and contact them.
Otherwise you can also contact them by going to their contact us page and filling their contact form. After doing this, when your information reaches the company, they will contact you themselves.