The Business Concept and its Marketability
When you are considering using franchising as your means of growth, it critical to know what qualities are necessary in proceeding.
We looked at the importance of structure recently in the potential to franchise, now we are going to investigate the marketability of a business and if it is franchiseable: Business Concept and Marketability.
Business Concept and Marketability is part two of a three-part series on franchising business concept. nike air max dame Nike Air Max 2016 Goedkoop Did you miss part one? Read through Business Concept and Structure in Franchising here.
The Business Concept and Marketability
It is not vital to be in business for a long time nor is it needed to be big. nike air max 2016 kopen cheap ffxiv gold NIKE AIR MAX 2017 HEREN DAME LOVERS ZWART WIT Of course it would be nice to be operating for a number of years and have a large stable of units humming along, but most companies that start to sell franchises have only one working unit.
Often this is actually a selling point to potential franchisees because it suggests that the business is in an emerging new industry or that it is catering to an unserved or underserved sector in the market.
If the business is a one-unit operation, you will want to stress the hands-on assistance available and the personal accessibility.
When a business is just at the concept stage, ensure that there is a market for the exciting, new, or unique product or service. nike air max 2016 grijs sac fjallraven kanken Air Max 2015 Zwart Oranje Goedkoop This is even more the case if you need to educate the consumer on what you are offering.
When a concept or product is not critical with an existing business it is helpful to be able to show a difference between you and your competition through your distinctive store design, special marketing program, or the effective way of delivering your product or service. Denver Nuggets nike air max 2017 femme grise buy bns items nike air max 2017 goedkoop Sometimes only one aspect is needed to be different to gain success.
Other vital aspects of business marketability include:
- Facilities and Personnel: Keys to solid franchising is the ability to assist franchisees in finding locations for their franchises. ffxiv items Nike Air Max Norge Nettbutikk Nike Air Max 90 Hyperfuse Heren The right location can mean the difference in making it or not. Nike Air Max 2016 Heren zwart air max 90 pas cher Air Max Zero Goedkoop Nike Air Max 90 Hyperfuse Heren It is also important that franchisees know how to find the right personnel to operate within the business.
- Teachability: In order to be franchiseable the business must be marketable not only to customers but also to franchisees. adidas 2017 pas cher cheap fjallraven kanken uk Nike Air Presto Schoenen Goedkoop One of the most important factors in the readiness to franchise is teachability. billig nike air max Cheap Nike shoes Nike Air Max Lunar 90 Dame You should be able to train a new franchise owner how to run the business in about four to eight weeks.
- Credibility: Something invaluable to marketability is reputation. adidas schoenen fjallraven kanken pas cher Nike Air Max 2017 Dame Goedkoop Prospects are human, they respond to success stories. Fjällräven Kånken Ryggsäck Sverige nike air max 2016 goedkoop buy ffxiv gold shirt-tshirt Nike Air Max 90 Sneakerboots Prm Undeafted Dame All good publicity be it news stories, letters, and customer comments will enhance the process.
- Cost: More important than the overall cost of a franchise business is the amount of up-front cash necessary as is the ratio of investment to total expenditure. Chaussures Nike bns gold Cheap Fjallraven Kanken Classic Air Max Tailwind 7 Goedkoop A valuable point in the marketability of a business is leverage.