Opening up a company’s systems and its heart to an individual who wants to come on board primarily because he senses a financial return on his investment takes an organisation time to understand and digest.It is essential to make sure that a company embarks on franchising only when the organisation and its people are ready to welcome a franchisee into its fold.
Benefits of franchising
From the perspective of a franchisee, it is important to understand what benefits he can expect and from the perspective of a franchisor, he must understand that he must be able to provide value to any potential franchisee.
Consumers buy from brands they trust – Brands are what convey credibility to a consumer and brands outlive any promoter or manager. A strong brand ensures long- term profits and an association with a strong and credible franchisor helps to build a long-term and sustainable business for an investor.
The franchisor must support his brand and the franchisee must assure the brand owner that the brand will be respected and that no steps would ever be taken that would tarnish the image or diminish the value of the brand.
Efficient business practices as systems are proven – Strong companies are able to bring strong systems and good business practices into the business of any franchisee. It is important to adhere to these values to ensure that there is no clash of values between the franchisor and the franchisee.
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Denne historien er fra June 04, 2022-utgaven av Businessworld.
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MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
