12 April 2015
Comments: Comments Off on A Strategic First Step

A Strategic First Step

When an entrepreneur or company decides to franchise their business or concept a lot of anxiety can be alleviated from a very exciting process by having a franchise system plan of attack in order. Nike AIR Max 2017 Dames Zwart Wit A scheme with four main parts.

As the initial step an attorney might suggest that they first comply with franchise law. Air Max Thea Goedkoop Not necessarily so. Nike Free 3.0 V4 Goedkoop It is most often recommended that the process begin with a business plan.

This first stage, referred to as the Strategic Planning and Program Structure, will help the franchisor decide, based on its presence in the marketplace and strength of competition, where to sell franchises and who to sell them to.

Recommendations developed in the business plan relate to the vital business decisions that are the foundation of the franchise program will be incorporated into the other three parts of the platform including the legal, operations, and marketing documents and strategies. Nike Air Max 95-360 Heren These assessments include:

  • Franchise owner profiles
  • Type of franchise offered
  • Determination of territory
  • Franchise support programs
  • Internal staffing

Through a detailed review of the client’s options, appropriate revenue sources will be advised that may contribute to the franchisor’s income and profits. Nike Air Max 90 VT Dames Possible revenue sources include:

  • Initial franchise fees
  • Royalties
  • Advertising fees
  • Additional income sources
  • Franchise business planning
  • Franchise structure report
  • Franchise structure and assumptions

 

 

Franchising is a rather large undertaking, but with the right strategy the ordeal can be easily managed by going step by step.

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