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Author Topic: Steps to Franchising your Business  (Read 92688 times)

rhina

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Steps to Franchising your Business
« on: May 20, 2006, 12:13:18 pm »
Steps to Franchising your Business

a) Registration- Your first step (if you haven't already done so) should be to register your Tradename and Trademarks .

b) Multiple Units- Assuming that you already have an operating unit, the next step would be to open a 2nd, 3rd, and even a 4th operating unit, if capital and time allows. The idea here is that you will learn important things about the types of locations suitable for your business (a location profile). You should also learn more about your systems, procedures, and advertising. Also, you develop more credibility with franchise prospects, because you have a proven track record because you have been successful with 4 units as opposed to just one unit.
c) Systems Development- Develop very specific systems for every aspect of your business from site selection, lease negotiation, training, unit operations, hiring/firing, advertising, accounting, etc. This is what you are really selling as a franchisor. A total business system which ensures success. All the systems must be put in manual form so that they can be taught and referred to on an ongoing basis.
d) Training- A very strong training program must be developed for training the franchisees. This training information comes to a considerable extent from the employee training done at the unit level. The franchisee must be totally indoctrinated in your systems and procedures. Great emphasis must be placed on strict adherence to the system. It is here that the success of the franchise is created. Stick to the system, that is what franchising is all about.
e) UFOC- Develop the Uniform Franchise Offering Circular or UFOC. This is a document which contains a history of the company, background information on the owners and officers of the company, a breakdown of the required investment, financial statements for the last 3 years (audited), the franchise agreement, a listing of existing franchises, litigation history, and other information on the company. The Federal Trade Commission requires that this document be given to a franchise prospect at the first personal meeting or at least ten days prior to the signing of the franchise agreement and the payment of the franchise fee.
f) Ongoing support program- The key to success in franchising lies in making each franchise profitable. It is incumbent upon the franchisor to do all possible to make that happen. There should be ongoing research and development to find new ways to help the franchise become more profitable. A newsletter should go out monthly with news about the company, the franchisees, and information which increases profitability. There should be periodic regional trainings held to reinforce use of the various franchise systems. These should be at no cost to the franchisee. An annual convention should be held at an attractive site like Florida or Hawaii. The convention should be a time for the franchisees to have fun, outstanding franchisees should be recognized with awards, and there should be educational breakout sessions.
g) Franchise Marketing Program- There are two critical parts to being a franchisor;

1st- Selling the franchises in large numbers and,
2nd- Supporting the franchises and ensuring profitability.
But, of course, nothing happens until the franchises are sold. There are many ways to sell franchises and you have to quickly find a marketing system that produces new franchisees at the rate that fits your projections. As part of franchise marketing, you have to create a full color franchise sales brochure and a franchise sales video. In the beginning, you sell the franchises but eventually you must hire a sales staff if you want to get big. Most of the foregoing must be in place before you sell the first franchise, but other things will develop as you grow. Becoming a franchisor can be a rather difficult and expensive process. You will need help in the form of an accounting firm experienced in franchising, a franchise attorney, and a good franchise consultant. The franchise consultant can actually save you money.

Taking the logical steps to franchising your business will make the difference.


https://www.franinfo.com/infobus.html

Im just sharing this with you. Hope it also applies in the Philippines. This is just to give everybody an idea.

AtletA

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Re: Steps to Franchising your Business
« Reply #1 on: July 02, 2006, 08:33:54 pm »
thanks for the info!

Jenex Enterprises

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Re: Steps to Franchising your Business
« Reply #2 on: July 14, 2006, 08:07:20 am »
Hi,

Just want to ask if requirement a and e is required in the philippines? I read the website and it is a U.S base information. But it really helped a lot

More Power

Jenex Enterprises

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Re: Steps to Franchising your Business
« Reply #3 on: July 23, 2006, 04:34:11 am »
In addition po, do you recommend a cheap but ok franchise consultant?

barni

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Re: Steps to Franchising your Business
« Reply #4 on: August 13, 2006, 06:54:33 pm »
hi.  i want to franchise my business but most franchise consulting companies charge too hundred k.  i just need one consultant, not a company.  do you know of anyone?

Jenex Enterprises

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Re: Steps to Franchising your Business
« Reply #5 on: August 14, 2006, 03:00:06 am »
Hi Barni,

I am in the same situation as you too

ROYAL

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Re: Steps to Franchising your Business
« Reply #6 on: September 01, 2006, 02:36:52 am »
hey,,,,, :)

anyone interest to do business in DUBAI CITY , please e-mail me ....

thank you

bflco

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Re: Steps to Franchising your Business
« Reply #7 on: September 01, 2006, 11:18:30 am »
hi,


rhina's info. is quite good. What is important in franchising business is a good success story. Good success story is shown in credible financial statements.

Good accounting system and procedures will definitely play a major part in running and monitoring your business...

To rhina ...thumb's up... I hope there a some consultants there who could provide help to those who are interested. yun hindi mahal ang charges...please share your knowledge naman...





rhina

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Re: Steps to Franchising your Business
« Reply #8 on: September 02, 2006, 02:39:29 am »
 ;)

Diesel_Jobi

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Re: Steps to Franchising your Business
« Reply #9 on: October 03, 2006, 02:42:41 pm »
If you are interested to have your business franchised you can PM me. I can do your franchise systems.

chard

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Re: Steps to Franchising your Business
« Reply #10 on: November 30, 2006, 10:47:06 pm »
is the info aplicable also here in the philippines?

cmonastrial

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Re: Steps to Franchising your Business
« Reply #11 on: July 16, 2007, 02:08:27 am »
i also want to franchise our business is it a good idea to go to franchise consultant before making a move?  and how much do they usually charge? is it dependent on the type of industry?

neoman

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Re: Steps to Franchising your Business
« Reply #12 on: January 31, 2008, 02:02:34 pm »
good

ygcprintmedia

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Re: Steps to Franchising your Business
« Reply #13 on: May 05, 2008, 03:29:10 pm »
Steps to Franchising your Business

a) Registration- Your first step (if you haven't already done so) should be to register your Tradename and Trademarks .

b) Multiple Units- Assuming that you already have an operating unit, the next step would be to open a 2nd, 3rd, and even a 4th operating unit, if capital and time allows. The idea here is that you will learn important things about the types of locations suitable for your business (a location profile). You should also learn more about your systems, procedures, and advertising. Also, you develop more credibility with franchise prospects, because you have a proven track record because you have been successful with 4 units as opposed to just one unit.
c) Systems Development- Develop very specific systems for every aspect of your business from site selection, lease negotiation, training, unit operations, hiring/firing, advertising, accounting, etc. This is what you are really selling as a franchisor. A total business system which ensures success. All the systems must be put in manual form so that they can be taught and referred to on an ongoing basis.
d) Training- A very strong training program must be developed for training the franchisees. This training information comes to a considerable extent from the employee training done at the unit level. The franchisee must be totally indoctrinated in your systems and procedures. Great emphasis must be placed on strict adherence to the system. It is here that the success of the franchise is created. Stick to the system, that is what franchising is all about.
e) UFOC- Develop the Uniform Franchise Offering Circular or UFOC. This is a document which contains a history of the company, background information on the owners and officers of the company, a breakdown of the required investment, financial statements for the last 3 years (audited), the franchise agreement, a listing of existing franchises, litigation history, and other information on the company. The Federal Trade Commission requires that this document be given to a franchise prospect at the first personal meeting or at least ten days prior to the signing of the franchise agreement and the payment of the franchise fee.
f) Ongoing support program- The key to success in franchising lies in making each franchise profitable. It is incumbent upon the franchisor to do all possible to make that happen. There should be ongoing research and development to find new ways to help the franchise become more profitable. A newsletter should go out monthly with news about the company, the franchisees, and information which increases profitability. There should be periodic regional trainings held to reinforce use of the various franchise systems. These should be at no cost to the franchisee. An annual convention should be held at an attractive site like Florida or Hawaii. The convention should be a time for the franchisees to have fun, outstanding franchisees should be recognized with awards, and there should be educational breakout sessions.
g) Franchise Marketing Program- There are two critical parts to being a franchisor;

1st- Selling the franchises in large numbers and,
2nd- Supporting the franchises and ensuring profitability.
But, of course, nothing happens until the franchises are sold. There are many ways to sell franchises and you have to quickly find a marketing system that produces new franchisees at the rate that fits your projections. As part of franchise marketing, you have to create a full color franchise sales brochure and a franchise sales video. In the beginning, you sell the franchises but eventually you must hire a sales staff if you want to get big. Most of the foregoing must be in place before you sell the first franchise, but other things will develop as you grow. Becoming a franchisor can be a rather difficult and expensive process. You will need help in the form of an accounting firm experienced in franchising, a franchise attorney, and a good franchise consultant. The franchise consultant can actually save you money.

Taking the logical steps to franchising your business will make the difference.


https://www.franinfo.com/infobus.html

Im just sharing this with you. Hope it also applies in the Philippines. This is just to give everybody an idea.

Hi. I appreciate your effort in feeding this infos. Not taking this personally, would you mind posting this kind of infos in PINOY STYLE? As im reading the guidelines, its obvious that you are adopting the american style.

Thank you.

rhina

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Re: Steps to Franchising your Business
« Reply #14 on: May 05, 2008, 10:23:26 pm »
I cannot change the content of the article since I just stumbled upon that in the net
hence, the note at the bottom says hope it applies in the Philippines and the source I got the article.


If somebody can just do it , or maybe have an experience in franchising ,
it will be higly appreciated.

 ;)

 

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