Do you know that you can start your business by taking a franchise of any company and income will start coming from Day 1. If you want that you also have a business and it remains in profit, then you have to know that :-
- What is Franchise?
- How to take authorization of any company?
- What is the benefit of franchise?
- Will it be right for you to take a franchise or not and many more?
So let’s first understand what is a franchise, then we will understand how to take a franchise of a popular and profitable company.
What is a franchise?
When you obtain authorization from a company to sell its products and promote its brand in your area, the company granting you permission is called a franchisor. In simple terms, a franchise is a business model where you use a company’s product, logo, and brand popularity to sell its products to customers. This method of doing business is called operating a franchise.
Is doing business on franchise model profitable or not?
So the answer is yes, 100% beneficial. See, if you make a product by yourself, it will not cost lakhs but crores of rupees, for this you will have to set up a factory or do branding of the product you sell.
First, you must reach out to potential customers to sell your product. If you want to sell a product from a company that is already popular, you can obtain a franchise from that company. This way, you won’t have to find new customers as the product is already in demand. You don’t have to work hard for it. It means that a business will be started in the cost of work.
How to take franchise of any company?
If you also want to do business by taking the authorization of a company, then you have two or three ways by which you can take the authorization of that company. The first is that when you see the advertisement of a company’s franchise in a newspaper, you can contact it by sending a mail on the contact number or email given in it.
Another way is to go to the official website of the company for which you want to take the authorization, you will see some link like “Work With US” or “Partner with us”, then go to it and give out the form, then those people will give their feedback or forward in the reply. Will tell you the process.
If the Contact Us menu is not found, you can go to the official website and write a mail to them expressing your interest in their authorization. They will then tell you the right way to contact the appropriate department.
What are the disadvantages of authorization
business?
Although there is no special disadvantage of franchise business, but still there are some things which you probably will not like like :-
- The company that will give the authorization will impose some limitation that you cannot market and sell its product by changing anything according to yourself.
- They will initially charge you some amount as franchise fee.
- They will take royalty fee on the product you sell.
- They will also cancel the franchise agreement with you whenever they want.
- According to that, even your office will be designed.
ou know that some adjustments have to be made where there is benefit. This is because the company spends lakhs in branding itself. Even though today’s youth may not like these things, it is necessary for the company’s success.
How much does it cost to open a franchise?
It depends on the company like some company gives authorization for 5 lakhs and some up to 10.
What is the benefit of taking a franchise?
From the very first day you get a customer and you get all the facilities to take your business forward.
What are the disadvantages of buying a franchise?
For which you have to stay under the control of the franchisee and have to make some security deposit in the beginning.
Which is the 12 month running business?
Tea business or makeup business or snacks like biscuits, clothes, fastfood, etc.
