Increase Just 12 Areas in Your Business by a Meager 1.4% and Your Profits Will DOUBLE!
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The biggest area of turn-key businesses is franchises. There
is a franchise for ever industry in the world. They are fairly easy to acquire
and come with a pre-packaged, easy-to-assemble system. McDonald’s is a prime
example of a franchise business, more specifically a 12-figure, 38,000
There are a few things we are going to cover:
The business format franchise came from an earlier model call
the “trade name” franchise. The major change was in the rights. During the
“trade name” days, the franchise owner only had marketing rights; now franchise
owners have owning rights to the entire business, including systems. This has
allowed for a shift in focus from the quality and name recognition of the
products carrying the business to sales techniques that carry the business.
The Franchise Prototype
It was really the franchise prototypes that allowed for the modifications
that help today’s franchises really stand out with techniques developed by the
owners, rather than those of the corporation. This can make a significant
difference in the success of the franchise, as the owner is able to custom
tailor their marketing and promotions to the direct needs of their local target
Notwithstanding the above, no one in their right mind would
purchase a franchise if the parent company didn’t have a solid plan of action in
place to ensure success of the business. So there are a few standards that are
put into place that helps to jump start the process of opening a successful
Build a model of prospective customers and/or clients,
suppliers, creditors and employees who will consistently offer high quality
a user-friendly model that can be used by individuals of any skillset;
a defect-free model;
a model with Operations Manuals;
a model that will provide guaranteed, consistent results;
a model that encompasses the same branding in color, dress and facilities
These are all ways the parent corporation can ensure their
brand stays the same and in the front of the minds of customers. When you are
purchasing a widely-known brand, you will attract customers just for being you.
If you are considering purchasing a franchise, please reach
out to me for assistance.