How will franchising develop?
Franchise system: the 10 most important steps to your own company
The dream of your own franchise system: With a multipliable and innovative business idea, you as an entrepreneur can become a franchisor yourself. The German Franchise Association outlines the ten most important steps to your own franchise company:
Step 1: develop a business idea
Check whether your business idea can survive in the market. Define your unique selling points and create one detailed concept with system services, structures and work processes. Also formulate your company philosophy.
Step 2: Analyze franchise suitability
Your concept is franchiseable if it includes these conditions Fulfills:
- It can be put into practice without any problems.
- The costs pay off for you and the franchisee.
- You are offering a really attractive existence.
Step 3: Create a franchisee profile
Get a clear picture of your ideal franchisee in advance. Then you have later when choosing your partner more security and less costs.
Step 4: Analyze the market and prospects for success
Before starting, analyze the market and your target group. This includes intensive market research, the observation of price developments and information about target groups and competitors.
From this, derive concrete measures for the distribution of tasks, organization, communication and scheduling.
The market should at least 50 to 120 franchisees in order to exploit synergy potential.
Step 5: Define the marketing concept
The marketing concept is the core of your franchise package. In it you create the system as defining brandby describing in detail your procurement, range, marketing and location policy. This includes all the details such as rental agreements, advertising, distribution and so on.
Step 6: determine the type of business
Determine the individual elements of your business concept, for example operational management, criteria for franchisees, advertising and sales measures.
Step 7: Draw up a system plan
Draw up the budget for your system and develop a liquidity and investment plan. Define the elements of system organization and system security.
EXTRA: 10 success tips for starting your franchise
Step 8: test the system
Try out in a pilot operation whether your business concept implement in the market leaves. Then the future franchisee will know whether the system is working.
Step 9: Formulate the franchise agreement
With the franchise agreement, you create the legal basis for your future contractual business relationships. Develop the document together with a a specialized lawyer.
Step 10: carry out cooperation tests
In the final phase, test your system with four to five franchisees.
This shows, for example, whether the support from the system headquarters works optimally, whether you have selected the right franchisees and whether the franchise contract covers all important points.
- Who designed the new Pitchfork logo
- How is Bangalore different from Mumbai?
- What is the most perfect movie
- Why do I hate the musical Wicked
- How many politicians have never lied
- What is the etymology of the palooka
- Are data protection guidelines required by law
- How can religion bring brotherhood into society?
- What do Canadians think of Texas?
- Are Vocaloid IA and CeVIO ONE sisters
- Will Neymar join PSG or not?
- Is gender-neutral educational propaganda
- Is parenting a dying art
- What ancient civilization had the most beautiful gardens?
- What do you think of Caesar
- Mammon is the son of the devil
- What do Israelis think of Isaac Herzog?
- How many Bakersfields are there in America
- Is a 4 good in GCSE
- Has BTS ever been awarded platinum
- How many atoms are there per 2 mm
- Why don't more restaurants serve Coke Zero
- How can I fix coding errors
- Can I watch Fox NFL streaming?
- Will prisons in America ever change?
- What is khula
- Causes premature ejaculation in premature babies
- How different forms of gold are taxed
- What's wrong with the University of Iowa
- Is Tim Duncan better than Kobe Bryant
- Is over speeding the main cause of accidents
- How does cyberbullying affect students?
- Can I view statistics from other Quora users?
- What is the most terrible website