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Imperative ingredients of franchising

Finally you got franchise of a business you have always dreamt of. Below mentioned are the success keys that must be in place if a business is going to transform into a successful franchise.

By Ramanjit Kaur Feature Writer

Getting a franchise does not mean that you have escaped from the hard work and dedication, which is required for running a business successfully. Though the franchise route helps you to fetch a well established brand name, training and support in initial phases but on your part you have to put in the maximum to get the fullest out of this golden opportunity. To become a successful franchisee you have to follow the five Cs of franchising on which you have to take heed, to get good hold on your business and employees.

Cash: The first and foremost requirement to own your business through franchising is ‘money’. As you already have owned a franchise, you better know the importance of money in a franchised business. Your business depends on the liquidity that you are going to invest. So, you have to make sure that you can keep a good flow of capital in the early years of your franchise business.

Compliance: For your better understanding, compliance is a state in which a person has to work in accordance with the established guidelines, specifications, or legislation. Now as you must have read your franchise agreement, you have to follow some set standards of the parent company to run your business. Though the company has given you much leverage still it is for your benefit not to add your ideas and innovations to run the business. Therefore, make sure that you always adhere to the policies and set standards of the franchise system.

Communications: We all know the significance of good communication skills and how it helps a person to succeed in life. Same is the case in franchise business. As a franchisee, it is your duty to appoint those employees, who have impressive communication skills as a business cannot operate perfectly if you and your employees cannot communicate properly. It is a significant feature that helps you in making customers. After all, business is all about communication.

Competitors: You might have many competitors in your area but a good business person is one who knows how to maintain his position and grow in the opponents’ territory. Of course, it is not easy but you have to build and increase your clientele by promising them better quality products and services as compared to your competitor.

Customers: Here comes the heart of franchise business. You know how important it is to make and increase clientele. Making is the first step that may be a bit easy but gaining customers’ loyalty is the most difficult task. So, you have to ensure the same quality products or services to keep your customers with you.

These are the most essential points that you have to keep in mind while starting your franchise business as they will definitely help you succeed. Franchise has great strength as both the franchisor and the franchisee put their individual efforts to attain a same goal. So, it is always imperative that you can count on the valuable support and training provided by the franchisor but not by putting aside your own hard work.

These five Cs play a very crucial role in fulfilling your dream of owning a successful business. As a franchisee, it is up to you how well you can use these informative tips to make your franchise business not just work rather profitable as well.

Comment
sbm 03, Oct 2009 at 04:46 PM
any home based franchise or small scale bussiness to be started
NIRMAL KUMAR JAIN 04, Oct 2009 at 06:24 PM
I AM INTERESTED IN HOME BASED FRANCHISE.
Sanjana Aggarwal 04, Oct 2009 at 07:55 PM
we need a home based franchise kindly suggest
manavsingla 04, Oct 2009 at 07:59 PM
i m intrested to take home based franchise.plz give detail.
K.B.Chakrabarti 04, Oct 2009 at 08:37 PM
I am keen to start a home based franchise. Could you help me by suggesting few oportunities. Thanks...
Ajinkya Khaiwale 04, Oct 2009 at 09:06 PM
I am intrested in home based franchise. Kindly let us know the various options available
Sandeep 05, Oct 2009 at 12:17 AM
Nice to know the protocols to start a Home Based Franchise. Could you suggest any home based franchise/business ?
Robin Banerji 05, Oct 2009 at 09:20 AM
I am interested in a home based franchise. Please advise with available opportunities. Thanks
Muneer Ahmad 05, Oct 2009 at 02:36 PM
I am very desperate so start home based franchise, but could you suggest me some running and low cost products please provide the details.
Papiya 05, Oct 2009 at 07:36 PM
I am runnig a silk saree boutique from home. I am looking for any simillar type of home based franchise Thx
vikas 06, Oct 2009 at 05:06 AM
I am keen to start a home based franchise. Could you help me by suggesting few oportunities. Thanks...
sushma jain 06, Oct 2009 at 08:54 PM
I am interested .would you pl suggest some opportunities.
M. K . Daga 07, Oct 2009 at 12:04 AM
I am intrested to take home based franchise.plz give detail.
jitender gera 07, Oct 2009 at 01:30 AM
This idea will save the energy and money.
kamaldeep kaur 07, Oct 2009 at 02:48 PM
I am running a railway and airlines booking business ,and looking for a franchise so plz suggest somke more aboutv it. so i can expand more things related to it.
k c kurup 10, Oct 2009 at 02:42 AM
Could you please let me know more details and type of business?
sudhanshu 11, Oct 2009 at 07:02 AM
I am keen to start home based business kindly suggest me few opourtunities
Rex Ninan 12, Oct 2009 at 02:24 AM
i am instreated in starting a home based franchise ... please suggest me some good options for the same ...... thank you
kaushik das 12, Oct 2009 at 03:07 AM
I am interested in any suitable home based franchisee offer. Please provide me the details
yudhister 15, Oct 2009 at 07:27 PM
i m interested in home based franchise. Please give suggestion.
ANSHU MEHROTRA 20, Oct 2009 at 03:39 PM
PLEASE GIVE THE DETAILS OF HOME BASED FRANCHISE
sanjay narang 20, Oct 2009 at 06:56 PM
I m interested in home based franchise. Plz provide details
Poonam Sharma 25, Oct 2009 at 06:22 AM
I am interested in home based franchise.pl suggest me some good options.
sukanya 04, Nov 2009 at 01:59 PM
Am interested in home based franchise. Pls suggest me with options and details. Thanks, Sukanya
Jaspinder Singh 10, Jul 2010 at 02:34 AM
I am interested in home based franchisee, kindly suggest me the available oppertunities.
Alexander Itty 01, Oct 2010 at 06:26 PM
Presently working with IBM Saudi Arabia. Planning to relocate to my hometown Cochin in Marc 2011. Interested in potential home based franchisee opportunities
shoeb 23, Oct 2010 at 04:17 AM
I am interested in home based work. Pls suggest me.
Simpi 16, Dec 2010 at 06:21 PM
Can anybody suggest for home based business in Delhi and the investment involved in it.
Sarika Palo 11, Jan 2011 at 10:40 PM
Currently working for a manufacturing firm. I am interested for a own franchise .would you pl suggest some opportunities.
dinesh.j 02, Feb 2011 at 02:03 PM
hello good morning, Can you suggest which are the kinds of home based franchise we can opt for and then the modus operandi for it and give me the complete details as in the kind of franchise, space required at home, cost involved in setting up and even the minute things regarding it across all sections
dinesh.j 15, Apr 2011 at 01:05 AM
hello good evening, Send me few home based business deals where investment is not too high. regards dinesh.j
Saravana 06, Apr 2011 at 11:51 AM
Hi, Would you please send me few home based business details to my email id Regards,
Akash Kumar 09, Feb 2012 at 06:20 AM
I m interested in home based franchise. Please provide details invest not more than 2-3 lacs
brajesh kumar singh 22, Apr 2012 at 03:14 AM
I want to started home based business up to 2.5 lacs
Ranjan Swain 27, Mar 2014 at 05:53 AM
Hi, My wife is planing to start her own Business from Home , Plesae suggest if any suitable option is there.
biju lal 06, May 2014 at 11:09 AM
hi, i am interested to know abt home based business.can u plz suggest me some guidelines.thanks.
a.g.valki 04, Jun 2014 at 06:59 PM
home base business
Vivek 11, Aug 2014 at 06:31 AM
Very informative and helpful tips. Thanks for sharing.
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