Have you ever thought of having your own business?
Starting a new business requires a lot of patience, capital, effort and resources.
However, that is not the case with Franchises!
What is a franchise?
A franchise is a joint venture between two parties, wherein an original business of one party is set up in another location, managed by the other.
Who are the two parties involved?
The two parties involved include the franchisor and the franchisee.
A franchisor is someone who has an existing business and goodwill attached to it.
A franchisee is someone who runs the business of the franchisor at his own location.
But, Why should I be a franchisee?
Being a franchisee brings about a ton of benefits, such as:
- Business assistance from the franchisor
- Existing brand reputation
- Lower investment, higher returns
- Contributing to a cause you believe in
- Being a part of an industry without being a specialist
- Making a difference to the society
- Branding, marketing, and resource help from Franchisors
- Chance to expand and grow your own business with potential future partnerships
Have you ever visited your nearest fast food joint?
Every brand store you see in India may most likely be a franchise. This is the case with most brand stores that are available in different locations throughout the country.
A brand name and reputation takes years of effort and experience to build in the market.
Franchisors already have it ready for you to take forward and start operating the business.
How to start a franchise?
Anyone, anywhere can start their own franchise business. Here is how:
- Find your industry or niche
Understand what kind of industry you would like to venture in. All industries, from food to education have opportunities for franchising. - Gather your capital
Franchising, like every business, requires an investment. Capital is one of the most important resources you bring into the business of this nature. The capital requirements vary across the industries, and can be estimated once you contact the franchisors from your preferred industry. - Find franchising opportunities
Finding franchise opportunities is not difficult. Multiple brand names are open to being franchisors in order to grow their businesses and expand their operations, wherein the franchisees benefit greatly as well. - Get in touch with the organisation
Once you short-list the organisations you would like to carry on the business for, you can get in touch with their management on platforms such as LinkedIn or via Email. - Crack the deal and start your own business
Once you get in touch with the organisation, you will have enough opportunity to discuss the venture, processes, resources and roles. Once agreed upon, finalise the legal formalities and get started with the processes immediately.
Franchising has immense scope that ends up benefiting both the parties involved within the process.
Intrigued? Call us now.
If you would like to be a part of the healthcare industry and contribute to the society, you can own a SCOPE franchise too.
Be a hero for the society and help us impart Government certified paramedical education to the future of India. Contact us at + 91 99302 12450 or email us at operations.scopecollege@gmail.com for more information on our franchise opportunity.