Franchise Terms and Condition in India

                         Franchise Terms and Conditions

Before the franchisor and the franchisee decide to agree and bind into a contract known as the franchise agreement, it is necessary that both of them cautiously go through the terms and conditions of the agreement to ensure avoiding any kind of havoc.

The terms and conditions mentioned in the franchise agreement document must take into account the welfare of both the franchisor and the franchisee. The terms and conditions should enable the business to become a high profit-generating business that provides benefits to the franchisee and the franchisor.

A franchise agreement is a license from the franchisor to the franchisee to use the franchisor's intellectual property, systems, and brand name. It also enables the franchise to acquire the rights to open a business using these INTELLECTUAL PROPERTIES, provided it meets certain conditions.

                                         Franchise Detailed Terms and Condition In India:

Key Franchise Laws, Rules, and Regulations in India:

In India, there are no specific franchise laws that govern a franchise business. There is a range of rules and regulations that can be made applicable to franchising. These laws include those addressing competition, consumer protection, intellectual property, labor, property, and the set course of taxation.

Franchise Detailed in India:

The following is a list of the common laws relating to franchising in India:

THE INDIAN CONTRACT ACT

The Indian Contract Act of 1872 governs all aspects of franchise contracts including the franchise offer, acceptance of the operation, validity of the franchise agreement, breach of contract, and its termination by any of the two parties. The act also seeks to ensure that the parties consent freely and value the contract.

COMPETITION LAWS

The Competition Act was enacted by the Competition Commission of India in 2002 but it came into effect full-fledged in the year 2009. The act aims to promote competition and freedom of trade, protect the rights of the consumers

and prevent anti-competitive agreements and activities that can harm the competition in India. In franchising, the Completion Act aims to ensure that the tie-in arrangements, exclusive supply, and distribution agreements, and resale price maintenance do not inhibit healthy competition in the marketplace.

INTELLECTUAL PROPERTY LAWS

Four acts are attributed to the task of covering intellectual property rights in India. The Copyright Act (1957), The Patents Act (1970), The Trademarks Act (1999), and the Designs Act (2000) are the acts that control the terms and conditions of the agreement of the franchise agreement. These rights are essential for the survival of the franchise industry and they provide protection for trademarks, patents, and registered designs and allow legal actions to be brought against third parties for infringement of any of these rights.

CONSUMER PROTECTION LAWS

The Consumer Protection Act was initiated in 1986 to provide recourse for consumers who received any defective goods or experienced unsatisfactory services. Under these laws, the government aims to encourage the

THE FOREIGN EXCHANGE MANAGEMENT ACT

This act was established in 1999 and aims to govern payments in foreign currency and is generally applicable to a cross-border or international franchise arrangement.

LABOUR LAWS

There are plenty of labor laws in India that may as well apply to the franchise business. Therefore it is important that the franchisee and franchisor are aware of these and the responsibilities concerning management and welfare of the workforce are delineated in the franchise agreement.

INCOME TAX ACT

The Income Tax Act of 1961 governs and looks into all the tax aspects of any franchise in India and also ascertains that a cross-border franchisor complies with local tax regulations concerning any applicable tax treaties to be signed and also ensures the fulfillment of any franchises that have been signed prior.

THE ARBITRATION AND CONCILIATION ACT

Enacted in the year 1996, The Arbitration and Conciliation Act governs the Indian law of domestic and international arbitration. This law only comes into effect if there is any case of franchisee-franchisor disputes due to non-compliance with any of the points in the franchise agreement.

PROVINCIAL INSOLVENCY ACT

The Provincial Insolvency Act of 1920 comes into effect in the case of insolvency of the franchisee or an individual franchise unit.

It is always advisable to consult experts while preparing a franchise agreement document because they can help let you ensure the formulation of correct rules, regulations, policies, terms, and conditions to be mentioned in the document.

It is a set of rules governing the franchisee-franchisor relationship and also ensures the day-to-day working and also ensures the state of work of your franchise in the long run. Thus, it is necessary that a franchise agreement document is cautiously drafted under expert assistance to avoid any havoc and omit any possible mistakes that could prove to be an expense for the business entity.

Apart from the above-mentioned provisions and clauses, several other pointers should as well be mentioned. There are some other brands and sector-specific rules and regulations that need to be taken into account while preparing a franchise agreement document.

RESERVE BANK OF INDIA RULES

The franchising agreement is also subject to all rules issued by the Reserve Bank of India (RBI) and they should necessarily be followed.

All these above-stated acts explain the basic rule of a franchise and enable you to set up a franchise that is based on ethical grounds. Every franchisor would want to set up a business unit that could expand his business, not only in terms of financial profit but also expand his market goodwill by assuring that the working of every single unit is based on ethical ground and is legally fair.

It is necessary that while preparing a franchise agreement, both the franchisee and the franchisor must know what are the three conditions of a franchise agreement, all of which are listed underneath.

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Franchise Agreement Format in Word-Sparkleminds

 

   Franchise Agreement Format in Word

KEYWORDS:

What is a Franchise Agreement?
Master Franchise Agreement
Franchise Agreement Format
Master Franchise Agreement Format

Franchise Agreement Details In India:

 The exposure of the Indian market to the world, numerous new brands have prospered. Franchising is the most lucrative business model that involves domestic professionals as well as foreign businesses. 

There are various types of franchising systems that can be opted by the franchisees to invest in. Some of them include the dealer arrangement, marketing arrangement, trademark-usage arrangement, manufacturing arrangement, product distribution arrangement, etc.

With the advent of multiple foreign firms, franchise business has become one of the easiest and most effective ways to expand your business. This proves to be the most efficient both, strategically and financially. Rather than opening up new branches of your brand by investing your own money, it is better to sell your intellectual properties to an aspiring entrepreneur. This will enable you to expand your business without any further investment.

                                  Franchise Agreement Format in Details :

Although the government does not mandatorily instruct any franchise owner to get into an agreement with the franchisor, a franchise agreement regulated by the negotiation, drafting agreeing on the terms with mutual understanding, discussion and consideration.

What is a Franchise Agreement?

A Franchise Agreement is a legal document that is mutually agreed upon by the franchisee and franchisor, which binds both the franchisor and franchisee into a contract. It creates the legal obligations to be fulfilled by both the franchisor and the franchisee and also gives a clear picture of what the franchisor expects from the franchisee for running a mutually beneficial business.

It is a legal contract in which the franchisor consents to provide its brand, operational model, consumer engagement, and any required support to another party for them to set up and run a similar business in exchange for a fee and some share of the income generated during its operation. 

The franchise agreement also lays out the details of what duties each party needs to perform and the obligations that need to be followed. It determines the terms and conditions for both the parties and binds them into a legal contract built by mutual agreement. Franchise agreements in India are subject to "THE CONTRACT ACT, 1872" in case of general terms, and the "COPYRIGHTS ACT and TRADEMARKS ACT "govern the protection of intellectual property rights. 

                         Franchise Agreement Draft In India:

 Master Franchise Agreement:

The Master Franchise Agreement is a type of franchise agreement that allows the Master Franchisee to operate more than one unit under the brand's name, the right to sub-franchise the right and to open units to other independent businesses (called Franchises), all during a specified time within a specific area. 

 A master franchise agreement is signed between three people: the franchisor, the master franchisor, and the franchisee.

The franchisor is the one who owns the business brand, the trademarks, and knows the method of business operations. A Master Franchise is the one that develops and expands the business by reaching out to various potential franchisees and guide them throughout the establishment process.

 Master Franchise Agreement is well suited for international brands wishing to expand their business in India. A master Franchisee is often more knowledgeable and market-oriented. He also has better connections business of the designated territory. The mutual objective of the agreement is to further strengthen the Franchise System in a specific geographical region. To make this happen, the Franchisor grants the Master Franchisee the right to use the Franchise System. The master franchise is also provided a trademark license and a license for the use of any other intellectual property rights that need to be granted to the franchisees within the limits provided for in the agreement.

 Franchise Agreement Format:

A Franchise agreement consists of the following contents:

Name and details of the parties getting into a contract.

Date of contract.
Nature of the business.
Term of the franchise contract.
Cost of the franchise.
Royalty fee and terms of payment.
The remedy for the transgression of rights or regression of terms or non-compliance with the agreement.
Conditions for eliminating the franchise agreement.
Restraints of usage of trade name or trademark.
Confidentiality terms.
Disagreement or dispute Resolution.

Need for a Franchise Agreement 

Even though it is not compulsory as per law to have a franchise agreement but it is a business need that should undoubtedly be fulfilled by both parties. 

The major needs satisfied by a Franchise agreements in the franchise business are as follows:

IMPROVES CLARITY OF THE BUSINESS'S WORKING: The agreement involves a detailed description of the nature of work and terms of conferring the trade name and business of the franchisor which retracts the scope of doubts between the parties entering into the contract.

GUARDS THE WELFARE OF THE PARTIES: The parties are free to express their will, rights, and duties that can be mutually decided and incorporated in an agreement that reduces the scope of any possible conflicts between the parties in the future.

PROOF OF PARTNERSHIP TERMS: It acts as evidence that expresses the duties and rights which the parties have agreed upon.

SCOPE OF CONFIDENTIALITY: The agreement involves clauses that state compliance with any confidentiality that the parties may prescribe in their contract by mutual consideration.

INTELLECTUAL PROPERTY RIGHTS: The ownership rights and terms concerning the usage rights of a trademark or trade name will be clearly defined in the franchisor agreement that will establish the rights of both parties very clearly

 Master Franchise Agreement Format

A franchise agreement format consists of the following components:

 Preface

This provides data on core issues and illustrates the key components of the agreement, clearly reflecting the goals and objectives of the parties getting into the agreement. following key components are recommended to be incorporated:

A description of the parties in the contract
A description of the franchise system and its past market functionalities
The ownership of the franchise system and a brief layout of the future framework improvements for changes regardless of the origin of such changes
Documentation of rights transferred from the franchisor to the master franchisee before the conclusion of the agreement and
The common goals of the parties in the contract.

Rights granted

The core objective of a master the franchise agreement is to additionally develop the franchise system in a designated region and to make this conceivable by franchisor acknowledging the master franchisee the right to utilize the franchise system, trademark license, and the license for the use of any other Intellectual Property Rights provided and to grant franchises to sub-franchisees within the specified limits and period as mentioned in the agreement.

Territory of work

The geographical area that has been assigned to the master franchisee should be defined unambiguously. Depending upon the accomplishment of clearly set targets, either in terms of turnover or the number of sub-franchise units to be opened or a combination of both, the parties can opt for the expansion or reduction of the territory appropriately.

 Exclusivity

The master franchisee has to make that there is a considerable advancement in the work progress of the franchise business in the designated territory. They would want to be granted exclusivity for that designated territory. It means that the master franchisee has the unlimited right to franchise the business in the designated territory to the elimination of any outsider including the Franchisor itself if no limit is set to exclusivity.

 Development schedule

Master franchising agreement will incorporate a development schedule listing the advancements in the number of franchise units to be opened in the designated territory. It is advantageous for both of the parties involved. It makes it quite easy to approach this subject practically to keep the disputes at the least position. The agreement should be able to provide solutions for the circumstances where developments are not made.

 Fees

Master franchise agreements essentially cover two kinds of franchise fees paid by master franchisees to franchisors. The first is the initial fee paid to the franchisor for the rights allowed. The second is an ongoing franchise fee which is also referred to as royalty or continuing fee. It is paid by the master franchisee for the utilization of the franchise system and the ongoing support service provided by the franchisor. The franchise fee is a charge by the franchisor levied for proceeding with the utilization of the rights granted and support provided.

 Agreement with sub-franchisee

Mostly, the master franchisee is obligated to utilize the standard franchise agreement and to ensure that it complies with the local (mandatory) laws. Another way would be that the master franchisee may retain the right to compose a standard franchise agreement given that this standard agreement which contains all the provisions deemed mandatory by the franchisor.

 Termination

Master franchising agreement will readily terminate at the end of the franchise term, unless the conditions of renewal if agreed upon, have been met. Termination for either party is to be provided in the master franchise agreement. Early termination by the franchisor in the case of a material infringement or natural termination in the event of bankruptcy, insolvency, etc, of the master franchisee is typically added through local bankruptcy and may decide the effectiveness of termination.

 Applicable law and dispute resolution

Typically, the law of the country in which the franchisor is domiciled is relevant as the choice of law to the master franchising agreement. Careful consideration must be provided to several relevant factors to arrive at a well-thought conclusion. In case of any disputes under an international master franchise agreement, international dispute resolution will be the most favored solution. Arbitration is by and large, less tedious and time-consuming, and less immoderate than litigation. It has an adaptable and neutral forum and permits the parties to choose a mediator with relevant subject-matter expertise.

                Format An Franchise Agreement In Details:

 

Sparkleminds:

Hope the help of the above-mentioned points you to prepare a franchise agreement and a master franchise agreement effectively. A sound franchise agreement is one with relevant points and negotiated measures. It should be flexible and yet rock-solid.

Franchise Consultants Mantra:

Start a business, becoming a consultant could be a good option for you, depending on your experience level.

1. Best Consulting Franchise Businesses in Indi
2. Digital Marketing Methods
3. Social Media Campaign
4. Website Ranking
5. Google ads 

The Mantra to a successful franchise business is to get a clear idea of your business aims and successfully connect them with the prevalent market scenario. A team of franchise consultants can prove to be a helpful tool when it comes to complying with all the required methods and following a proper procedure. 

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Franchise Consultants in Mumbai

Marketing Agency in Mumbai

Franchising is a form of business that involves two parties, namely, a franchisor and a franchisee. It is classified as a business relation in which the intellectual property, proprietary business knowledge, business model, brand name, and the rights to sell its branded products and services are granted to a franchisee.

In return, the franchisee pays a certain amount of money known as the franchise fees and agrees to comply with certain obligations, typically set out in a franchise agreement. 

It is based on a marketing concept that can be adopted by an organization as a strategy for business expansion. Not only does franchising provide exposure to a brand but it also helps it to improve its relations and gain goodwill. These market relations, goodwill, and a large expanse of the customer base help the franchisor to entice potential franchisees to invest in buying the franchise of their brand

Buying the franchise of a well-established brand proves to be quite propitious for new entrepreneurs because they receive a tried and tested business model. This reduces the risk factor to a large extent. They are also provided with market goodwill, the creation of which is one of the most challenging tasks faced by any emerging business. A franchise business has better growth prospects than any other startup.

 

UNDERSTAND FRANCHISING

A business chooses to franchise its business largely in two contingencies: When a business wants to increase its share in the market and the sector it is a part of or to increase its geographical reach. It may franchise its product and brand name to do so at a comparatively low cost. A franchise is a business entity yielded from the joint venture between a franchisor and a franchisee.

The franchisor is the one who owns the business. It sells the right to use its name, idea, and products or services produced by it. The franchisee buys this right to sell the franchisor's goods or services under an existing business model and use its intellectual property for earning profits. 

Franchises are a popular way for entrepreneurs to start a business, especially when entering a highly competitive industry such as fast food. One big advantage that comes along with purchasing a franchise is, that you have access to an established company's brand name and consumer base. You won't need to spend in acquiring resources that would assist you in getting your name and product out to customers.

BASIC FRANCHISE RULES AND REGULATIONS

Franchise contracts can be easy at some points but it can be quite complex to formulate policies and vary for various franchisors and franchisees. A franchise agreement contract includes several points, some of which are as follows:

•  The franchisee must purchase the controlled rights, trademark, from the franchisor in exchange for an upfront fee. 

•  The franchisor often receives payment for providing training, equipment, or business advisory services. 

• The franchisor receives either ongoing royalties or a percentage of the operation's sales.

A franchise contract is temporary, similar to a lease or rental of a business. It does not mean that the business is owned by the franchisee. Depending on the contract, franchise agreements may last between five and 30 years.

DIFFERENCE BETWEEN A FRANCHISE AND A STARTUP

People often tend to confuse a franchise with a startup. The two are quite distinct. A startup refers to a business that is started and owned by you. You can resort to a startup if you don't wish to work on someone else's business model. But starting your own company is risky, though it offers rewards both in monetary and personal terms. 

When you plan to start your own business, you're on your own. Many questions that hover in your mind remain unanswered. Will my product sell? Will customers like what I have to offer? Will I make enough money to survive?

The failure rate for a new business is higher than that of a franchise. Roughly 20% of startups don't survive the first year of their establishment. About 50% last until year five, while only a small percentage of 30% continue to stay in business after 10 years.

 Only if your business is going to be able to beat the odds, you will be able to reach the zenith of success. To turn your dream into reality, expect to work for long and hard hours without any sort of support or expert training. 

 If this sounds like too big a burden for you to handle, the franchise route may be a wiser choice.

People tend to purchase a franchise because they see the lesser amount of risk involved and availability of higher growth prospects. . Franchises offer entrepreneurs a stable and tested model for running their business successfully. The success in franchising is nearly 85 percent which is way more when compared to the success rate of startups that is only 53%, in 5 years. 

PROS AND CONS OF OWNING A FRANCHISE

There are many advantages of investing in a franchise but it also comes with a few drawbacks. Widely recognized benefits of investing in a franchise include:

•  A ready-made set of business establishment steps that have to be followed. 

• A franchise comes with market-tested products and services and also established brand recognition. 

• You have a set of operational procedures that have been tested and so there is minimum risk.

• Most of the franchisors offer training and assistance in financial planning and also provide a list of approved suppliers.

• Franchises come with a formula and track record so there is a higher chance to be successful.

The only disadvantage that comes with a franchise includes heavy start-up costs as well as ongoing royalty costs that need to be paid to the franchisor.

HOW TO MAKE A FRANCHISE BUSINESS PLAN?

Preparing, presenting, and defending your business plan as a successful one, both in the short and long run, is a real test of your business vision. A business plan lets you define the goals and objectives of your business in a presentable manner. A Business Plan explains what you plan to do, how much money you need to do it with and how you propose to pay the money back. Your plan will include a Profit Forecast and Cash Flow Model. 

1.Introduction

• Describe the purpose of your Business and briefly outline the concept it is based upon.

• Include your overall business objectives and goals.

• Decide on the legal status of your business. Analyze your business model to ascertain which is the right one for your work.

• Describe accurately the product or service that your business will offer to the franchisees for sale. Include any relevant history of the product or service and try to avoid any gibberish.

• List qualities that make your product or service distinct from what others have to offer and describe your 'Unique Selling Point' (USP). List the key feature which makes your product or service stand out in the marketplace.

• Describe how your product or service can be developed in line in case of a market transition.

3.The faculty

You should remember to include details of anyone who will be involved in the success of your business. These people are an asset. This is a key section of your Business Plan that should necessarily be included.

• A short introduction of each person, including the assessment of their attributes, strengths, and weaknesses.

• Their relevant experience, commitment, and reasons for involvement in your new venture and how are they an asset.

4.The market

This is probably the most important section of the whole Plan - It is extremely important to have a clearly defined market plan for your business to succeed. If you can effectively present this section of your business plan, you will gain credibility for the whole Business plan. 

• Describe the current condition of your product or service in the marketplace for your product or service.

• Detail any relevant facts and figures relating to the market sector(s) that you will be targeting, expected growth ratios, and the type of potential customers who will be purchasing your product or service.

• Give details of your competitors in the market and explain why your potential customers will choose your product or service over those being offered by your competition.

This is the point where a lot of research is required. You should make use of all the business information that is available about markets, competitors, and customers.

The marketing plan

A business without a Marketing Plan is incomplete. Your company must have a clearly defined marketing plan that would help in promoting it. It should include:

• Your marketing objectives 

• Where your product or service can be positioned in the marketplace in terms of price, quality, image, and other factors affecting demand.

• What are your planned marketing communication methods- advertising, leaflets, and brochures, etc.

• How will your product or service be distributed sold eg. Through agents, sales teams, digital marketing, etc.

• What customer care policy is planned and how it will work.

Any sector of interest where you have already generated leads or details of any possible orders you have already taken should be included in the appendix. Unless you have a clearly defined market and a potential customer base, you will not be able to successfully work on your business model.

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Franchise proposal sample

 

How to create a franchise business plan:

franchise steps

Franchising is pretty close and invariable to the term business development, growth, and expansion of a pre-existing venture. If you wish to successfully franchise your business, you require a strategic plan and a tried and tested step-by-step procedure that needs to be followed. To formulate a concrete strategy for your business, you should always consult experts who can guide you throughout.

 The goal of a franchise consultant is not solely franchising your business or meeting the legal requirements to sell franchises, but to build a franchise a system that, from the very start, can take the advantage of the very best practices in the franchise industry and is strategically focused on enhancing the strengths of your business, minimizing its weaknesses and establishing a flexible but rock-solid foundation that is designed to create, making it potential enough to scale up and grow your franchise system.

To achieve success in the process of expanding your business, it is necessary that you follow a proper set of procedures and resort to the correct methods of setup. It is essential to build a proper operational strategy that can benefit the business in the long run and lead to the generation of profits from the very beginning. How to franchise your business accurately is a big question that stands ahead of any expansion procedures that need to be followed.

Given below is a list of steps that must be followed by every business to ensure a proportionate working: 

Analyze your business model

It is very important that you make a thorough investigation of your business type and analyze if it is a franchise or not and if it is a franchise one then find out a suitable way to expand it through franchising by using sector. Before we get started on a new project and begin working with a new client, an initial franchise assessment is necessary to determine if franchising is the right fit. 

Assess your business 

As a separate entity, every business has a unique model and operational process, it is important to determine what works best for you as a business wanting to expand its operations in the market. It is important to evaluate your business's strengths, weaknesses, competitive advantages, unique selling points, legal protections, and future development goals. Throughout the franchise launch process, it is crucial to focus on developing a franchise system that best meets your development goals and that will maximize the.

 

 Take up a market competition assessment

To formulate rock-solid and progressive operational strategies, it is important to take up proper market research and get an adequate understanding of the strategies being used by competitive brands and then formulate concrete and escalating strategies for your business and outrun their market success. Getting expert advice can always be considered when it comes to formulating competitive strategies.

Preparation of a franchise blueprint

Establishing and creating a franchise system is a process that evolves in due course of time. It is important to ascertain your goals, business, and brand and once you complete the competitive franchise study, you need to create a blueprint mapping out of the skeletal structure for your franchise system.

 A franchise blueprint should incorporate the following points:

• Franchise fees and investment structure that is competitive and encourages potential multi-unit development in the coming future.
• Royalty fees and establishing fee structure that rewards franchisees for success and is a brand that achieves your growth and development goals
• Multi-Unit opportunities available in the future and whether or not your franchise system will be focused on setting up single-unit franchise opportunities or multi-unit franchise opportunities with development agreements.
• What will be the lease offered to the franchisees and the extent of territory expansion. A clear plan on how to manage franchisee operating territories, and forms of protection that may or may not is granted to franchisees investing in your brand.
• A list of proprietary products and sources of supply which also includes the identification of core products and services that must be purchased from you or your designees and a clear mention of whether or not you may generate additional revenue from your suppliers
• Many other factors, including factors that are specific to your business and the strategic plan for differentiating your franchise system, attracting franchisees, and various policies required that would help in attracting potential franchise broker's interest in promoting your franchise offering.

 Prepare a franchise proposal

A franchise proposal is an essential document that helps you to lure more and more franchisees by helping you to easily and effectively pitch your idea to potential franchisees. It is necessary that your franchise proposal is very precise and it reflects the working procedure of your business and also puts forth a report of the presumable profits that the franchisees can expect to earn on investing in your brand. Your franchise proposal must mention all the benefits including rights to hold intellectual properties, market expanse, and the pre-established customer base that they will receive on taking up your brand's franchise. This will develop the confidence of the franchisees in your brand.

 Development of a franchise agreement

 The franchise agreement is an important part of your franchise disclosure document. It must provide you with the very best policies and protections and must be structured and focused on the strategic growth of your business even if it is a part of a super competitive market.

 Depending on your strategy and planning to meet your goals, your franchise agreement is not a mere agreement for any of the franchises between your business and its unit but a working model for your franchises. Your franchise system must be structured with multiple development opportunities where a franchise may sign a franchise agreement giving them the right to establish one unit or they may be offered a franchise agreement where they are granted the opportunity to establish multiple units of your brand. Your franchise agreement needs to reflect your idea of working with your franchise system and must be designed to facilitate franchise sales for your business. You can always refer to a franchise agreement format when preparing your franchise agreement.

Develop a marketing strategy

 As a franchise owner, you hold the responsibility for marketing your product to consumers and present your franchise as an opportunity to prospective franchisees. Coming up with a solid marketing plan will keep you on track as you grow your brand to a bigger one and also enable you to expand it and develop in the long run.

without proper marketing and awareness of your brand, you would never be able to expand through franchising.

It is always advisable to keep your business models as simple as possible so they're easier for franchisees to understand. Larger franchises often require their members to participate in a common advertising fund. 

 When you are marketing a new franchise concept, the more difficult it gets for a potential franchise partner to grasp and understand the whole business model, the harder it will be to recruit good franchise partners. You will have a much better chance of succeeding at your goal if you as an individual and as an investor can fully understand your franchise model.

Thus, it is important that you assess your business and thereafter stick to strategies specific to your business enterprise that can help in efficiently expanding your business and taking it to great heights.

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