Ever since man began to engage in commercial enterprise, franchising has been around in one form or the other. From a simple grant of a right or privilege in the middle ages, it has involved into the sophisticated business format franchise concept of today. If you are a resident of India, there is no dearth of business franchise opportunities for you to capitalize on. But do you know the meaning of franchise?
Franchise.. What is it exactly?
This is a business agreement, where the owner (franchisor) of a business concept grants others (franchisees) the licensed right to own and operate a business based on the franchisor’s business concept, using its trademark.
Basically, if you were to put your money in business franchise opportunities in Mumbai, you would be selling the products and services of the mother-franchise and operate under an established brand name. This is one option that has caught up with the young entrepreneurs and small business owners who are constantly looking for an opportunity to invest their money and earn great rewards.
How does the franchisee’s benefit from this agreement?
- The person purchasing a franchise can avoid all the unnecessary trial and error period that is involved in started and operating a new business.
- The financial risks associated with business franchise opportunities in Pune, Mumbai or Delhi is lower as compared to other ventures. This is because the investment cost is low and the profit margins are much higher for a franchise.
- The franchisor provides a complete package to the franchised unit, meaning that the franchisee can just begin operating without any delay.
- The franchisee is not doing business solely. He can rely on the constant and continued support from the franchisor since the success of the franchisees means the bigger success for the mother-franchise.
- Investing in business franchise opportunities in Delhi gives the individual a chance to run a proven business concept that has a successful operational track.
- An individual interested in running his own business might have theoretical knowledge about personnel and facility management, accounting procedures and so on, but might lack practical experience. It is quite possible that he might fumble while applying these concepts to the day-to-day running of the business operation. Franchisors offer management assistance that helps one to overcome this lack of experience.
The above benefits do look promising and lucrative. But before parting with your hard-earned money, do a bit of research and try to find out your strengths and weaknesses. Take advantage of business franchise opportunities in India and carve out a niche for yourself in no time.