Tips To Start a Franchise Business
Opening a food franchise business can be an interesting and extraordinary experience for anyone who is a newcomer business owner.
For example, becoming a food franchise in India means that you have several benefits and advantages such as no need to think about new business opportunities or ideas that will be cultivated because the food franchisor has provided all the business concepts for you.
Start A Franchise Business
Here are 12 tips for franchising for newcomer business owners.
1. Business Concept
The first thing that becomes an obstacle for business owners in doing business is the maturity of the concept or business model that will be offered to your customers.
However, of course, it is not easy for a business owner to get new business ideas and business opportunities.
But limitations related to business concepts can be overcome by the existence of cooperation in the current franchise business, which you no longer need to worry about regarding the F&B business model or concept that you want to realize. Why?
All that you can get if you choose as a franchise, you will benefit from this franchise business such as brand awareness, customer databases, SOP, to be related to your business operations.
Where this is very suitable for novice business owners who do not understand how to run a good and correct management system.
Also, being a franchise or franchise does not need to require so much capital for a food or beverage franchise in Indonesia that only requires a small capital of less than Rs 10 million.
2. Get Training
Skill training for employees is also important to advance your business, by choosing as an F&B franchise.
You will get the benefit of not having to bother with employee problems because they will get support or training from the franchisor so they can be service-oriented. As a result, the quality of service can always be maintained.
3. Risk of Business Failure
As a business owner newcomers who do not have business experience qualified, certainly many of those who have failed in building a business that choosing a franchise or a fast-food franchise can be the best option to minimize this problem.
Many of them failed because they did not have a good management system and comprehensive training and supervision.
It is well known that the benefits of franchising will be immediately felt like providing training and supervision with a management system that is already good and tested.
Where in a certain period the franchisor will visit your business location to conduct inspections to ensure that your business is running well or not.
4. Continuous Innovation
In the current digital era, technology cannot be denied so quickly. This will also influence a business to be demanded to continue to innovate so that it becomes a dilemma for new business owners.
But that doesn’t happen if you open a franchise. Because you will continue to be supported in terms of facilities and infrastructure that will support each of your divisions or business units.
Call it the marketing department, will be supported by SEO, marketplace, e-Commerce, social media, or partnering with the delivery service. This is to bring your business closer to the growing market segment today.
5. Small Initial Capital
Now many small business owners have opened an F&B franchise. Where small capital is one of the benefits or advantages of the franchise offered by the franchisor.
The problem of funds is indeed often hit by small business owners to improve their business.
But by opening a franchise you do not need to doubt the limitations of these funds. Because many franchises offer only a relatively small capital of under Rs. 10 million.
6. Actions To Take
Choose a list of food or beverage franchises that fit your current budget or capital. Do not forget it is necessary to consider carefully based on the benefits, criteria, until the conditions.
You must know what is needed before you will actually open a food & beverage franchise business
“Honesty and trust are the initial and most basic capital of entrepreneurs” – Chairul Tanjung.
7. Take Opportunities
Franchise business growth in Indonesia is relatively low. Even so, this business opportunity is very wide open. So, try to take this opportunity to produce rupiah coffers.
Try cel the latest trends that are happening in the world of franchising, then look for gaps that can be used as a source of income by making a comprehensive business analysis.
You can also collect as much data about the same franchise business as you want to open.
8. Customize Expertise
It would be better if you create a franchise business according to your expertise or at least something that you like.
For example, you can cook, then you can choose to make a culinary business. If you are a coffee lover, you can also open a coffee drink business instead of food.
Running something that you like or are good at will increase the potential for success. Also, you can also be more enthusiastic and not easily give up despite facing obstacles.
9. Strategic Location
Site selection is one of the most important franchise business success tips. Where location will be closely related to the income you will get later.
To get maximum results, try to choose a place of business that is in the middle of the crowd.
Compare, cold drink business in shopping centers and residential areas.
Although selling one product and the same product, the turnover of both will be different. Where sales in shopping centers are higher than in residential areas.
Also, choosing a strategic location not only makes it easier for customers to find a place of business but also increases profit potential. This is an effective way to capture more consumers and expand business scope.
10. Take Responsibility
Although a franchise business can be run by someone else, it would be better if you also participated and remained directly involved. Take full responsibility, at least until the business generates a stable turnover.
You don’t need to be on location all the time, you just have to do regular visits every day. And don’t forget to check the financials of the business. That way, you can make better future plans.
11. Give Good Service
Quality products are meaningless if the service to consumers is not good. Where customer satisfaction is number one.
With good service and quality products, customers will come and be loyal to your business. Try to greet them with a smile and be a friendly person.
Also, make sure you do good training for employees on how to provide services to customers.
12. Do Marketing
No business can flourish without marketing. With this marketing, your business can be known and demanded by many people.
Without marketing, no matter how good your product and service quality, sales will never occur. So, think carefully and well what marketing strategies you might be able to implement.