Expert Franchise Consultants India-2021
How to
Hire Franchise Consultants in India
Taking a leap into
a new business or going into an expansion mode can be a little daunting, as you
may not be completely aware of certain factors.
A franchise
consultant would help you overcome these initial concerns and guide you on the
right path. So hire a company or a consultant who has the above pre-requisites
that stand for their credibility.
The advents of "Technology, Social Media, and Online " ads have made it easier for people to
search for potential consultants.
Franchise Experts In India
Franchise Experts In India
However, you can
also, seek consultant contacts from a franchisee that you come across talking of
their real results and how their partner franchise consultants aided in the
process.
1.However
successful their business is, a new franchisor is getting into a new business.
Whilst remaining in their current business sector they are also moving into the
franchising business. That’s a whole world away from what they are currently
doing. They need to learn the science, art, and skills of franchising and a
good consulting firm will transfer those skills.
2. A business may
currently, be profitable but will it be profitable when it converts to operating
through franchisees? Franchise consultants will do the financial modeling that
establishes the answer, using their experience of the costs and returns of
creating franchising structures then marketing the franchise and recruiting
franchisees.
3. If the future
looks bright and the client decides to proceed, the consultant will manage the
processes of franchisee marketing and recruitment. A bespoke recruitment
website will be created and a media plan developed to make optimum use of
portals, magazines, and exhibitions.
4. An automated recruitment process will be installed to enable the consultant to track visits
to the website and to manage subsequent inquiries, including telephone
interviews so that the franchisor only has to meet fully qualified prospects.
5. While all that
is going on there will be parallel development of the necessary documentation,
specifically the operations manual, and the franchise agreement. The consultant
will either guide the franchisor through the process of producing the manual or
they will do it for them. They will also liaise with the chosen franchise
lawyer to draft the agreement, speeding up the process and reducing the cost
through previous experience.
6. The franchisor
Businesses will also need several other services which are available within the
franchising community, not least funding from the various banks and
introductions for membership of the national franchise association. The
consultant’s long experience and close relationships will ensure that the client ends up in good hands.
7. Should there be
insufficient numbers of people in the franchisor’s management team to provide
the necessary training and support services to its franchisees, or those that
are there are insufficiently skilled, the consultant will recruit, train or
outsource as required.
All of the above
will get the show on the road much more efficiently and effectively than a new franchisor could achieve on their own. Indeed, as Brian Smart, former
director-general of the British Franchise Association used to say “You have to
acquire franchising skills for your business and you have but four choices. You
can buy it in from qualified franchise consultants; you can employ someone who
has been through the process before; you can have someone from your business
trained in franchising, or you can make a mess of it”.
However, it’s not
just new franchisors who can benefit from using an established and experienced
consultancy firm. Franchisors cannot allow their business to coast; like cars,
businesses can only coast downhill. If a network is nearing capacity or complacency
in its domestic market it needs to consider its options. The right consultant
can often provide a sounding board to an emerging franchisor when considering
new strategic developments or to a mature franchisor that may be planning an
eventual exit.
A good consultancy firm can help
in the following ways.
1. The franchisor
may be considering building a stable of franchised networks, i.e. becoming a
multi-brand franchisor. To do this they need to start another network from
scratch, acquire an existing network within their market or combine the two by
acquiring the master franchise from an overseas franchisor. Consultants with
their international networks will have access to proven and ambitious systems.
They can make the appropriate introductions and assist with negotiations.
2. An alternative
to grow in their home market is for a franchisor themselves to go
international by exporting their successful systems. Once again, an established consulting firm can both structure the international package then deal with
their associates in foreign markets to refine the legal and operational aspects
then find a local master or unit franchisee.
3. If an exit is
the chosen strategy the consultant can advise on the various options, help to
prepare the business for sale, and make introductions to potential buyers, like
those mentioned above or corporate finance experts.
Benefits of hiring a franchise
consultant
Investments
are Low
Investment is very
low because for becoming and engaging as a part of your business, franchisees
make an initial payment. Throughout the Franchise agreement, they continue to
pay a percentage of their revenue too. The franchise covers the basic cost of
initializing a franchise, training the staff, and also launching the business
everything need not be spent by the parent organization.
Also after the
business is set to roll, it is the franchisee that will gratify you with
monthly incomes, rather than being an employee and getting paid by you as
monthly income. Hence, "Franchise Consultants in Bangalore "provides
a very cost-saving technique for a successful business and development.
Management
is Simple
The whole
responsibility regarding the daily run of business units is to the Franchisees
only. They must perform all the actions strictly according to the Operating
manual and the Franchise Agreement.
Franchisees invest
their money; they don’t require a detailed level of management which is needed
for the employees.
The franchisee and
the franchising organization are deeply dependent on each other. Their success
depends upon both sides. So, franchising network needs only an eased and also
very low-cost management system.
Swift
Expansion
Unlike company-run
networks, franchised networks can be expanded more quickly. Franchising is
mainly about replicating a crystal clear successful business formula. The
franchisor is readied for making a valid investment in marketing at the
national level so that the brand can easily be explained nationwide. This
reflects on the sales volume increment and buying power through the
organization that intake greater discount from its suppliers.
Market
Penetration is better
Franchisees are
established very well as a segment of the local community. They reside on a
personal level or due to past business actions. This, in turn, gives a strong
advantage over gaining new business for the franchise at the very local
level. Franchise Consultants in Bangalore are one
the best in these activities.
They tend to live
in the franchise territory. They make a permanent commitment. The above
attributes do not suit the company employees and they will add huge value to
help franchisees to penetrate the local market.
Liable
Commitment
Franchisees get
the benefit directly from the success of the business. Since they have invested
their commitment will be stronger than that of the employees. Since the
employees did not make any investment and get secured wage every month without
fail.
Another important
reason for this level of commitment is that they own their business. Franchisees
attain pride in the way of service they provide and will try hard to excel by
satisfying the needs of the customer by a talented Franchise Consultant.
Recruitment
is comparatively less
After purchasing
the franchise, the franchisees commit themselves to the chosen business for a
long term of period. They are going to be heavily affected. So, they will stick
to that business for long. If there is a need to sell the franchise, they must
be responsible for finding a good buyer. In the recruitment of staff process,
it is the task to be done by the franchisee, not the franchisor.
Franchise Consultancy in India-2021
Qualities of a good franchise
consultant
Professional
Focus:
Many proclaim to
be consultants but do it just as a part-time to earn out easy commissions.
Therefore, it is essential to choose a franchise consultant whose energies are
entirely into the consulting business.
One who has the
experience of working with people like you and has a track record of success to
his credit.
Reputation
in the Industry:
A deciding factor
of a franchising consultant of his repute is the time that he invests in asking
the right kind of questions to understand you, your goals, requirements
completed before any mention of companies.
Pre-Screened
Franchisors:
The effectiveness
of a franchise consulting company or a consultant comes with the number of
franchisors companies that they have to offer, giving their credibility, the business situation, and everything pre-screened by them.
Select a
consultant or a franchising consulting company that can provide you with an array of franchisors, for you to pick what matches your interests and goals.
Proven
Franchise Results:
Ultimately what
matters are results. To evaluate the effects that a franchising consultant
company has offered to its franchisors, the kind of clientele it has, years
into the business of franchising, and how good they are helping out franchisees
to make a good pick of business to start with. Go for the ones where their
results talk more than they do.
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More Details: Best Franchise Consultants In India
