All you need to know about Franchise…
Why you should consider to franchise?
Many people have known about franchising. It is another way for people to have their own businesses. With franchise, people can have their own “International Brand” and run the businesses by selling the products or services. They can choose to which main core of franchise businesses, they want to invest or buy the license. Mostly they choose the foods and Beverages field or restaurants; as we see in our society, there are many franchise businesses developed, such as : KFC, Mc. Donalds, CFC, Pizza Hut, Hoka Hoka Bento, etc. |
Entrepreneur website & the link
The franchise businesses like the author mention above, have become favorite options because they have already had “Good Image” in the society as international Fast Foods Restaurants that have many fans. They are also very famous because of the delicious taste of the products and their cheap prices. Almost everybody in the town is able to buy the products.
Because of that reason, many people who have a lot of money start to jump into the businesses. They buy the franchise and open the restaurant. Besides that, they also start to hire the local people as staffs to run the businesses. The Franchise Businesses are also helping a country directly to reduce the jobless and indirectly help a country improving the society’s standard of living. |
Bursa Franchise website & the link
|
The Requirements of having a franchise
For having a Franchise, we have to follow several requirements needed from the Franchise Company. Franchise businesses can be owned by personal or by corporation. Here, we will talk about the general requirements that mostly needed for taking the Franchise Businesses. For the detail requirements, you should consult with the company, so that there will be no misunderstanding between the parties. In general, to open a Franchise you will need :
1. Certain amount of money for working capital, for paying the royalty and franchise fees.
2. Legal Papers such as :
4. Your workplace floor plan for the business
5. Your suggested place or space to rent for the business
It is also suggested that you should also consult about this franchise matter to your lawyer or an Expert. They will help you to get the businesses right away.
Working Capital that you need for franchising
Mostly the working capital that you need for international franchising is quite big. But you can still choose the local franchise, they offer cheaper prices. The probability for getting success between the local and international franchise is also about the same. The most important thing is getting into the businesses right away, and earn the incomes immediately.
Choosing the Main Core of Businesses
Choosing the main core of the franchise business is also important. We should choose the one that we like and has become favorite in the society. If you have limited budget, we suggest you to have the Local Franchise and the main core is Foods and Beverages, they offer reasonable prices for the royalty and franchise fees. The size of investment is also various, from booths to huge restaurants. Besides that, you also will be provided by training and coaching. The training and coaching will help you to run the businesses and to follow the standards of certain matters for running the businesses, for example : the standards of preparing the foods & beverages, the standards of preparing the booth, the workplace or restaurant, and the standards of getting or preparing the accessories.
The Benefits of having a Franchise
The Benefits of having a Franchise are as follows :
1. You will get training and coaching for running the businesses. You will have the standards for preparing the businesses.
2. You will be running the Trusted businesses, because the franchise company has already had “Good Image” in the society.
3. You will definitely have many customers because of the Franchise Name, and the probability to get success is bigger.
4. You will not have difficulty for getting the materials or accessories because you just simply buy all of them from the Franchise company.
5. You will not be left behind, you will always get updates about the Franchise news and knowledge.
The Weaknesses of having a Franchise
The Weaknesses of having a Franchise :
1. You must pay certain amount of money for paying the Royalty and Franchise fees.
2. Some of big franchise company require profit sharing.
3. It is considered big amount of money needed for starting the international Franchise Businesses
Useful Links :
International Franchise Opportunity :
https://www.entrepreneur.com/franchise500
Indonesian Franchise Opportunity :
http://bursafranchise.com/category/directory/
For having a Franchise, we have to follow several requirements needed from the Franchise Company. Franchise businesses can be owned by personal or by corporation. Here, we will talk about the general requirements that mostly needed for taking the Franchise Businesses. For the detail requirements, you should consult with the company, so that there will be no misunderstanding between the parties. In general, to open a Franchise you will need :
1. Certain amount of money for working capital, for paying the royalty and franchise fees.
2. Legal Papers such as :
- Your Legal ID
- Your Curriculum Vitae (for Personal Based)
- Your Company - Permanent Establishment (for corporation based)
4. Your workplace floor plan for the business
5. Your suggested place or space to rent for the business
It is also suggested that you should also consult about this franchise matter to your lawyer or an Expert. They will help you to get the businesses right away.
Working Capital that you need for franchising
Mostly the working capital that you need for international franchising is quite big. But you can still choose the local franchise, they offer cheaper prices. The probability for getting success between the local and international franchise is also about the same. The most important thing is getting into the businesses right away, and earn the incomes immediately.
Choosing the Main Core of Businesses
Choosing the main core of the franchise business is also important. We should choose the one that we like and has become favorite in the society. If you have limited budget, we suggest you to have the Local Franchise and the main core is Foods and Beverages, they offer reasonable prices for the royalty and franchise fees. The size of investment is also various, from booths to huge restaurants. Besides that, you also will be provided by training and coaching. The training and coaching will help you to run the businesses and to follow the standards of certain matters for running the businesses, for example : the standards of preparing the foods & beverages, the standards of preparing the booth, the workplace or restaurant, and the standards of getting or preparing the accessories.
The Benefits of having a Franchise
The Benefits of having a Franchise are as follows :
1. You will get training and coaching for running the businesses. You will have the standards for preparing the businesses.
2. You will be running the Trusted businesses, because the franchise company has already had “Good Image” in the society.
3. You will definitely have many customers because of the Franchise Name, and the probability to get success is bigger.
4. You will not have difficulty for getting the materials or accessories because you just simply buy all of them from the Franchise company.
5. You will not be left behind, you will always get updates about the Franchise news and knowledge.
The Weaknesses of having a Franchise
The Weaknesses of having a Franchise :
1. You must pay certain amount of money for paying the Royalty and Franchise fees.
2. Some of big franchise company require profit sharing.
3. It is considered big amount of money needed for starting the international Franchise Businesses
Useful Links :
International Franchise Opportunity :
https://www.entrepreneur.com/franchise500
Indonesian Franchise Opportunity :
http://bursafranchise.com/category/directory/