Success.

F is for Franchising

Posted on by franfrog2016

Looking into franchising is one of the most popular and most common ways of entering into the world of business. First time entrepreneurs and even expanding business owners find franchising as a profitable and easily feasible venture. Even people with minimal knowledge about commerce can now start a business once they have identified the right franchise for them.

Before you go around looking for the right franchise, you must have a firm grasp of what franchising really is.

Let us discuss the basics.

As defined by Entrepreneur.com, Franchising is a method of doing business wherein a franchisee is granted the right to engage in the business of offering, selling or distributing goods or services under a system prescribed in substantial part by a franchisor. The franchisor also provides the trademark, the trade name, logo and advertising.

Franchising is a form of a contract. It is an agreement between the Franchisor and the Franchisee outlining what each could do for the other. This agreement usually contains the use of company name, use of the franchise system and franchise fees.

The franchisee is allowed to use the company name of the franchisor. As franchise brands are already established and may already be popular, there is then no need for the prospective entrepreneur to think of a brand. The franchisor is lending its name to you.

Most businesses, even with the vision of a product or a service, still have a hard time initially. This difficulty stems from the complexity of creating a system that works for the business. You would have to create protocols, establish guidelines and implement standardized procedures. It is admittedly a daunting task, especially for people who do not have previous experience in handling or starting up a business. In franchising, the franchisor is lending you a tried and tested system of the franchise brand.

It looks like you are being handed free lunch because everything is ready for you. But franchising is far from free. You would have to pay a franchise fee to the franchisor once the agreement is underway. Franchisors also normally charge royalty fees on a regular basis depending on the agreed terms.

Franchising is a challenge, as with any other type of business. You need hard work to succeed in business. Couple your hard work with our knowledge at Fran Frog and you will find a sure-fire way of achieving your goals. We are not just a franchise consulting agency, we are your family.

Three Reasons Why Franchising Is Such A Hit Among Millennials

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Millennials are not just the future. They are the present. They have come to the age where they have enough purchasing power, resources, and capability to prove the world that they are a notable reason why the economy is it is how it is today. Even in business, more and more millennials are stepping up and have conquered the business world even at such early age.

But millennials with their appetite for speed would usually want to venture into something that they can profit from in just a few months or years. They are also the type who doesn’t want to really start from scratch and hassle themselves with start-up problems. This is the reason why millennials just love franchising. Franchising is a sure hit to millennials because of the following reasons:

1. Years of experience not needed.
As long as money is available, anyone can buy a franchise. In franchising, the owners are not required to have proven business skills and years of experience to really run it. The franchisors will provide the set-up, the system, and the training needed to run the business. Thus, even millennials can run a franchise very easily.

2. Higher success rate versus starting a new business.
The good thing about franchising is that the system and the model are already proven to work. This gives franchising an edge versus starting a new business when it comes to success rate. If the system, model, and business strategy is just followed well, there is a very high chance that even millennials can reap their target returns the soonest time possible.

3. A good reputation has already been established.
Remember that millennials don’t want to start from scratch. This means they don’t want to go through marketing and advertising discussions that have no guarantee to work. With franchising, they are buying a business that is already known and established. They need not create a good reputation and image anymore since it is already there and it is working.

To know more about franchising, it is best for millennials or anybody to approach a franchise consulting agency. Fran Frog of Jupiter Florida is a franchise consulting agency that helps you select the best business to franchise, serves as your consultant and coach as you enter into the venture, and will even help you assess if franchising is really fit for you. Trust Fran Frog to help you find the business that is best fit for you and your returns targets. So don’t trust on beginners luck, contact a franchise consulting agency today and be sure of success. Fran Frog can be reached through 1-800-388-2810. Call them today for a free consultation.

The Roles of the Franchisee and the Franchisor in a Franchise Agreement

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Have you decided to own a franchise already? If not yet, consider acquiring one now as there are lots of income potentials in owning a franchise. On the other hand, if you have come up with a decision to obtain one, then, you are one step closer towards your desire to be financially independent. You may still be puzzled right now on concerns about how to start a franchise, which franchising business is the right one for you, or what are the things required to begin. Taking advantage of the high quality services of a trusted and reliable Franchise Consulting Agency, like us at FranFrog, is your wisest decision as these agencies are capable of finding the best franchising business and franchisor which corresponds to your business preferences. They can also be your guide as you complete the agreement with the franchisor.

One of the important things that you need to know is a franchise agreement which is the contract between the two parties involved in the acquisition of a franchise, the franchisee and the franchisor. Both parties entail certain roles and responsibilities which must be strictly adhered to for the franchise business to be successfully operating.

The Franchisee’s Responsibilities

1. Maintain the business’s good reputation.
2. Supervise the growth of the business, and lead the business to success.
3. Abide by the franchisor’s and the franchise’s business system and operation strategies. Consistency is a major challenge for franchisors which should be strictly followed by franchisees. Let us at FranFrog, the best Franchise Consulting Agency, provide you with various business systems of franchisors that you can choose from.
4. Ensure that the franchised business is generating a huge amount of income and profits.

The Franchisor’s Responsibilities

1. Provide business support to the franchisees.
2. Keep operating methods and techniques of franchising business standardized, highly effective, and efficient.
3. Continue to improve reputation of the business, from great quality products to best customer satisfaction.
4. Create innovation and expansion programs or plans for the franchised business.

The success of a franchise type of business greatly depends on the determination of the franchisee and the franchisor to strictly follow their roles and responsibilities detailed above to ensure that business services and products are consistently offered to the market. With our franchise consulting services at FranFrog, the most trustworthy Franchise Consulting Agency that you can turn to about franchising concerns, we help you achieve financial freedom through business ownership as we find the franchise business that suits your passion. Do you have questions about franchising? Tell us at info@fran-frog.com. We will be glad to answer your queries and clear your doubts.

Traits of a Winning Franchisee

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Before you even start looking for franchise business to capitalize on, try to assess yourself and your personality to see if a franchise business is right for you. You have to make sure you have the right traits and characteristics needed for franchising in order to succeed at it. Choosing a franchise business, or any type of business for that matter, can be intimidating and demanding, which is why you should have the proper skill set and mindset for it. You can opt to hire a franchise consulting agency to help you start out.

Try conducting a bit of self-assessment before you consider franchising a business and you can potentially save everyone involved a lot of hardship. As any franchise consulting agency will advise and tell you, franchising is about following a proven system in order to replicate the success of the original business. Aside from the ability of following a system and guideline, here are a few traits than can determine whether a franchising business is a good fit for you:

1. Result-oriented. You want positive results for your endeavor, that’s why you work hard to achieve quality results.

2. Broad thinking. You know that great things start from small beginnings, which is why you keep your eyes on the goal.

3. Optimistic. Solutions and opportunities are more obvious to you than problems or hindrances. You take care of problems by solving them instead of wasting time on how they happened and you make sure that the end results are positive.

4. People Person. You know that the fundamental key in a successful business are the people, both customers and employees. Building relationships and keeping them is most important for you.

5. Resilient. You know how to get back up after a setback and you won’t let it dampen your goals and dreams. You strongly bounce back from adversity.

Franchising may not be suitable for everyone. A person’s traits and characteristics will have a huge effect on the success of his or her business. Aside from having a reliable and knowledgeable franchise consulting agency to guide you, sufficient financial sources and thorough research, the above five traits are rudimentary to having a successful franchise business. If you ticked off all of the five traits above, chances are that you have the confidence, drive and motivation to be a successful franchise business owner.

Why You Must Invest in a Franchise Business

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Why You Must Invest on a Franchise Business

In planning to venture into a franchising business, one must be extra careful with his or her choices and judgments. The private owner or businessman should be very critical with their every move and if possible, he or she should not make any mistake or else failure will take its toll. The franchise will give you a certain level of independence as a private owner or operator in operating your own business. This will also endow with a stable product or service which is recognized by almost all of your clients.

Why you should invest:

    • Risk of business failure is reduced.
      The failure of a franchising business is rare to happen because the business is already recognized by many people. You can also see that other franchises are successful with it too given that they need not exert a lot of effort into it.
    • The products are already recognized.
      Since the product is already recognized worldwide or even in your country, you do not need to spend more money to promote your goods or services. You can also take advantages on the commercials and promotions made by the owner of the business since you have the licensed trade mark.
    • The franchisor’s support.
      Whether you like it or not, the franchisor will support you visibly or morally. It is because the franchisor does not want to damage its business name just because you are careless in taking good care of it. The franchisor will also guide you how to set the business and handle issues.
    • No experience is needed.
      That is right! You do not need to be a manager for you to purchase a franchise. As long as you have the money to purchase the said franchise as well as passion and dedication, you can venture to the business right away!

You can impose your own rules.
Since you are the owner of the purchased franchising store, you may impose certain rules. Be sure that your working hours is convenient for you and your employees. Yes, you need to be professional but being professional does not mean that you have to be rude. See to it that the place is peaceful and that, your relation as employer and employee is harmonious.

  • Finance or resources is easier to achieve.
    Since your store is famously known in your place, banks or lenders will be able to lend money to you easier. It is because your store already has a good reputation. You can even borrow large sums of money too.

With this information provided, you will now have the idea whether you will continue your plans in venturing to a franchising business or think once again. These advantages are reachable if you have the passion and dedication to work with your flaws as an owner and as an employer.

That is why you should refer to a trusted franchise consulting agency before venturing to that kind of business. This is in order for the private owner to understand the full consequences of their actions. We, at FranFrog, will provide you an expert and professional advice to help you search for the possible business opportunity that will suit you. We will also explain how you can purchase a new or existing franchise business and its risks and factors.

Our franchise consulting agency will be able to review and check your skills to match you with any companies that will give you the opportunity to grow as a businessman as well as make money easily.

If you still have any doubt, you can seek some advice from our franchise consulting agency because we will be understand what you are feeling. Our staffs are very approachable so you will not have any problems opening up with them.

For more information on our services, visit us at http://www.fran-frog.com.