Have you thought about franchising your business as a business expansion strategy?
If you haven’t explore franchising to expand your business, now is the time to explore this type of business modelling.
As a franchisor, you license your know-how, procedures, intellectual property, use of your business model, brand and rights to sell your branded products/ services to a franchisee. In return the franchisee pays certain fees and agrees to comply with certain obligations.
THINKING ABOUT FRANCHISING?
Make My Day Group works with you on evaluating your business model and evaluates the feasibility of franchising it.
You need to be ready to offer a license to the franchisee to do business in a selected territory as well as offering support in opening, training, merchandising, marketing and managing in return for a management fee or marking-up the price of goods you supply.
You can only become a successful franchisor if you yourself are already operating a successful business with a good track record, and have sufficient management and financial resources to develop and support a franchise network.
EXPANDING YOUR FRANCHISE
You have now franchised your brand and now feel you need to get your brand development to the next growth spur?
How can you speed up your development? You may be asking yourself if you should open corporate units to penetrate in new markets?
The development of a successful franchise network requires careful planning, continuous monitoring, and advice and support from professionals, such as a franchise consultants, business mentors and financial consultants.
Let us work with you on developing your franchise business and pick and choose from our available services.
OUR FRANCHISE SERVICES
At Make My Day Group, we help you develop the tools that are needed to successfully support your franchise network, including:
The first question you ask yourself when becoming a franchisor is “where am I going to find franchisees that are going to invest in my business”?
We work with you on defining a business development strategy and share our contacts with you.
This is where the journey begins for new franchisees. It’s important to have a story to sell them your franchise and to have the proper tools available to build your credibility. At this stage, we will also work with you on defining your territories, market research, competitive analysis and pricing structure.
This is the support that a franchisee invest in and includes:
– Operations manual
– Business advisor support including finances
– Technology support
– Human ressources
– Centralised branding with platforms available for local productions