Franchising POC

To have a good reputation with franchisees and in the franchising industry, it is important that franchisers have an ethical framework to operate by. In addition, franchisees should behave to certain standards so that they can progress their business(es).

Many companies are members of associations, such as the International Franchise Association or the British Franchise Association, that have an ethical code structure in place. These codes are a way for franchisers to self-regulate and franchisees to have a good idea of the role they need to play in making the franchise as a whole more successful. They will not have an answer to every dispute, but a set of principles will be established to ensure problems are dealt with correctly and as amicably as possible. Therefore, franchisers that are not involved with associations should still have a set of guidelines for themselves and franchisees to work from.

At the cornerstone of any code that has been or should be devised is honesty and trust. There should be no ambiguity when franchisers advertise for franchisees and in what franchisees tell franchisers about their past and current financial situation. Each party needs to fill their part of the agreement and be open about any problems that occur, which will mean both the franchiser and franchisee knows exactly where they stand.

Once a franchise is up and running, both parties need to have a system in place where it is ensured that when one gets in touch with the other, by phone or email, it is picked up quickly and a response is swiftly made. Effective communication will help to create trust between franchisers and franchisees and it is also important for the financial progress of franchises, for example if a sales system is not working, the sooner an improved version is discussed and implemented the more money a franchise will make. A code should highlight the need for teamwork and mutual respect between both parties so that franchisees get a degree of responsibility to improve their franchise systems, as long as they work within the business structure.

Franchisers should also recognise and give awards to franchisees that achieve better than expected results and show major commitment to the franchise. In addition, as part of the franchise agreement, there should be a straightforward method for dealing with internal disputes and all national and state laws concerning franchising must be strictly followed.

Following a structured code with these and other aspects will help to create a positive image and reputation for the franchiser and each individual franchise. Franchisers will be more likely to attract potential franchisees, as most of them will talk to current franchisees before making a decision on which franchise they want and franchisees will benefit from high levels of consumer loyalty and satisfaction.

Several of us are looking to get their own business but there are aspiring proprietors that are still pondering wheter to take a franchise venture or assemble a traditional business. A lot of are dreaming to have a productive business enterprise but only number of of them has their success story to share. You will find two choices in beginning a venture, you can start having your own business name or you can choose getting a franchise venture. Let us try and differentiate the two to help you come to a decision what suites you properly.

In a franchise firm there will be luxury getting aid from your franchising business, you are sure that their name and reputation is already set, you already have your clientele; franchise corporations already earned the belief from their potential buyers, so it would not be tough for you to get their confidence. You will also be provided of everything you need to have starting from seminars for yourself (this may equip you in managing your small business), trainings for your workforce, uniforms, stores, company brand and logo, food materials down to the particularly minor details like the utensils, tissue and so on. You already have a back bone for your business, due to franchising firms are being supported by massive and dependable companies this will guarantee your small business will live, compared to regular business in chich 80% of them close with in their very first year and only 20% survive. Even though franchising business also have rules and regulations, it will be tricky to use your own commercial ideas because they already created a strategy that is definitely tried and tested. Franchising companies are strict with their regulations, you need to sign an agreement in order for your to get the right to use their business name and logo, this will also show your partnership with them and you are also agreed to their terms and conditions.

Taking the risk of setting up your own agency name will take good deal of guts and confidence (and a lot of luck). Beginning your small business from scratch isn’t going to give you the convenience that a franchising business can provide, here you need formulate your own approach that will really work, there will be a great number of trials and errors, it will require time for you to obtain your customers trust due to most of consumers trust a brand or a trademark which is acknowledged or familiar to them. This will not present you with assurance that your business enterprise will be successful, this will depend on your strategies in managing your company. Starting your own business enterprise brand would be risky but when you’ve got the guts to go on together with your battle go forward and do it.

Regardless of whether you chose to own a franchise business or beginning your own enterprise brand, it is all up to you. Verify your knowledge of handling a business and you also have to consider your resources and funds. It is all up to you if starting your own venture brand or getting a franchising company will be a success.