Franchise essay

MacDonald's do not franchise hamburgers, Dunkin Donuts do not franchise donuts, Le Berrie Apparel do not franchise their apparel. What these companies franchise is the marketing concept and the method for delivering their product and services, and the business system when it comes to branding, name, products, décor, and other essential items. That is what the companies Franchises.a
Franchise businesses are not limited only to industry of Food or Apparel. But the largest companies in different fields and sectors are considering franchising, thus, the sectors of Franchising have grown to over 100 sectors such as healthcare, services, internet, maintenance, and others.
Franchising in comparison to an old way of operating a business is a bit more complex due to many consideration, the legal structure of the business, branding, training, management, pricing, centralized billing, collection, accounting, initial public offering, research and development, high tech team, shopping center orientation, décor and many others.
Even though an encouragement should be given to every talent or good business concept to franchise and license its product or services, and to be part of the fastest industry in the world, but also such businesses must comprehend and understand the importance of creating a strong business platform to franchise their business which needs to meet with the requirements, the type of business need to enter into the local region and the international arena as a Franchisor.
Some of these requirements are
• Creating a strong legal structure and registration of brands, names and designs.
• Integrating the design of the Logos, Brand name, Architecture and Décor in a single package
• A well designed marketing and advertising strategy
• A well prepared legal documents, agreements and contracts especially to meet with the firled of the industry of the business
• The determination of the potential growth of such a field of industry for the next 5 years.
• The determination of the interest of prospective Franchisees
• The design of the management the company should have , where it will be able to grow with the franchise program.
• A carefully studied and well designed Franchise package to allow investors to recover their investment within a logical period of time through the earning of the business.
• Creating a strong training program and manual to help prospective buyers to be successful in the Franchise business they purchase.

These requirements and the establishment of the business structure to Franchise a business, are advisable to be done with the cooperation and advise of experts in this field. The initial investment the business will make to position itself as a successful franchising concept is minimum in comparison to the future rewards
It is important for a company who is looking to franchise its' business to seek a Consulting and Advisory firm who is willing to devote the time and effort to learn about the business and to understand and share with the vision and the thinking of the owner of the business, and to be able to modify the strategy plans of the business during its growth In short, the Consulting and Advisory firm must work in close relationship in order to implement all the important details from A to Z
Finally, many companies are not aware that their businesses are Franchisable. It is very easy for such companies to learn about the potential and possibilities to franchise their business by hiring an expert to study their business model and to provide them with a feasibility study, and different alternatives. As a first step this is highly recommended and normally the fees for these studies are not high or expensive