They are definitely plenty of franchise opportunities out there nowadays, there are also various types available, be it the Food & Beverages (F&B), service-oriented or consumer goods. Undoubted, most franchisees would have gone online and filled out the initial franchise application form and overcome the first hurdle and so. Now it is time for a franchisee to expect something from the franchisor.
Frankly, a franchisee’s success lies greatly on its franchisor, not only the extraordinary product or franchise plan, but also the support a franchisee should expect from its franchisor. At GE Consult, from our real life working experience with some locally and globally renowned franchisors and licensors, I share here some fundamentals that a good franchisor should provide.
Before commencing your own franchise business, the franchisor should provide a comprehensive training support to you, such training should cover overall aspect of the business. In brief, it should include the operational work flow to follow, methods on running the business, systems to keep good employees, guidance on how to obtain and retain your customers.
Location Selection Support
Location, location, location! It is great for the franchise to be situated at great locations to have better chance to succeed. Here, the franchisor should work closely with its franchisee in selecting the best property that suits suitably the franchisee. Further, the franchisor should provide guidance in regards to leasing and fit out requirements particularly in the shopping malls.
Advertising & Promotion Support
A franchisee should receive great support in terms of marketing plan for your franchise, from the opening of your store. As there is certain extent of investment from a franchisee to the franchisor, so the franchisor may also supply to you with great marketing materials such as posters, brochures, banners and so on.