The Power of Goodwill

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Goodwill is a crucial intangible asset that significantly impacts a company’s value and profitability. It can be evaluated in monetary terms if a company is bought or sold. Usually, this term refers to the collective efforts an owner or seller puts into their business over multiple years. They may have accumulated significant goodwill in the market by establishing themselves as a reliable and trustworthy businessperson. 

In the long run, goodwill impacts the brand name, brand identity, customer base, customer loyalty, brand reputation, good customer relations, good employee relations, employee satisfaction and proprietary technology. 

Goodwill as a Business Strategy

There is no shortage of organizations conducting business transactions worth millions each year. However, each will ultimately be worth a different amount once their goodwill is measured. Goodwill stems from character and performance and cannot be bought, sold or traded according to a businessman’s plan. It is a cumulative result of multiple years of silent effort, catering to customers’ demands and providing the best services to each client based on the values of integrity. Goodwill is also said to be a great asset to any business. 

How Does The Power of Goodwill Benefit Your Business?

If you are trying to start a new business, you must implement behaviour that elicits goodwill from your customers and fellow business owners. Here is how it can benefit you in the long run: 

Offers a jumpstart to your business As an entrepreneur, if you decide to take on a brand franchise, you can become the immediate beneficiary of the goodwill they have accumulated over the years. Once you open the brand’s outlet in a new location, you still retain the brand’s reputation, trust and other perks. Thus, your business gets a head start in the market from day one. Compared to a self-owned business, you will work faster and upwards in the market with the brand’s collected goodwill. 

  • Leads to prestige

Every franchisor develops its brand’s identity by working hard on each aspect and refining its products and services. Over the years, it leveraged the respectability and value of all associated with it. Additionally, if you take on a franchise, you are associated with that renowned brand, and you can also, directly and indirectly, benefit from its prestige. 

  • Attracts better staff

An individual franchisee will always attract better-skilled, more talented and qualified staff when affiliated with an acclaimed brand. Employees immediately recognise the value of being part of an organization that offers a good pay package and growth opportunities. Additionally, working with an established brand also adds value to their resume. 

  • Improves employee self-esteem

The employees in the franchise outlet feel a higher sense of self-esteem because everyone they know perceives them with a more appreciative outlook. If the employees receive proper training in customer service, they add to the brand’s goodwill; over time, happy customers share their experiences with others. Similarly, the parent company also appoints a team to manage their multi-restaurant operation and can attract star professionals who, in turn, leverage their networks to offer value.

  • Boosts advertising and marketing

Advertising and marketing are other excellent tools that enhance your brand’s goodwill in the market. They also directly impact your company’s reputation and increase your brand’s value. Every franchisor must consistently invest in advertising and marketing for its brand. Each new product, development and franchise needs adequate marketing to elevate the parent company’s image. 

It can also be crucial in emotionally connecting with your desired audience. Emphasising the messages you put out there for your audience directly affects the brand’s identity in the viewer’s minds. 

So, what do you think about goodwill in business?

As a prospective franchisor, it is essential to remember that goodwill is not a formula. It is built in the long run by consistently defining and highlighting the brand’s best features. You have to put in considerable effort to earn this intangible asset one day at a time to reap its future benefits. 

If you want to become a franchisor, you can benefit from collaborating with India’s Largest Homegrown QSR Burger Chain, Jumboking. Click on the link below to become a franchise owner!

The Franchise Coach

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It is said that “a good coach can change a game, and a great coach can change a life”. So, let us ask you a question- How important do you think it is to have someone who can train you, support you, discipline you, and at the same time, motivate you to just go for your goals?

As an individual restaurant owner, you may not get all these advantages but as a franchisee, there will always be someone who will help you aim high. Be it the franchisor himself, a Master Franchisee, an expert consultant to the system or an older operative within the system. The franchisor may also organise a systemwide offsite for coaching. This guidance instils values that become hallmarks of excellence.

Let us discuss eight of them in detail.

  1. Discipline

The most important key to achieving success in a business is to have discipline. But it gets hard sometimes to maintain that discipline, and that’s when the Coach starts acting for your business.

The franchising business has an in-built mechanism for coaching at various levels, leaving no room for ad hocism.

  1. There are weekly/monthly training sessions for different levels of staff and management. This gives you an understanding of consistency, which makes a business brand.
  2. Franchisees are given additional support and skill-building to assist in setting up multiple stores so that they have a growth path.
  3. The franchisor also has a system to encourage stores to aim at weekly, monthly and annual targets. If any outlet slows down its business, the franchisee of the outlet is sought out and counselled.
  4. Strategy

Everything in business needs a strategy to deal with, and the Coach with his/her expertise brings that to the plate. There is collective support to enable an individual franchisee to tackle a difficult competitor in the business or handle unexpected bumps. From inventory to managing local compliances to liaising with law enforcement, every valuable connection gets served to you.

  1. Play To Win

In a franchising business, you need to be all in, after all, you are here to win it. One starts the franchising business for the right reasons – growth, profitability, satisfied employees and delighted customers. It is not just to have a source of income, but a keen desire to do well and achieve more. The coach helps you to learn and envision success and all the pleasant outcomes of it.

  1. Team Spirit

To be a successful player, one should know how to be a team player. As a team, one can do wonders. The same goes for a franchising business. As a cohesive unit, a team brings out sustainability.

A franchisor makes sure that each one of his franchisees illuminates team spirit and is ready to tackle what may come, and the trust shown then just enriches the bond.

  1. Motivation and Comebacks

Everything has an expiry date, so it is natural for your motivation to have one as well. That’s when your Coach plays a vital role in your franchising business. Most franchisees struggle in the initial weeks or months while trying to figure out how to increase their sales and returns. Some pass that period with flying colours while some are ready to quit.

The coach by boosting the morale and helping him/her identify the problem areas puts the franchisee back in action.

  1. Fair Play

It is important to have ethics in everything you do. So, to keep you on track a Coach plays the role of the observer and keeps a watchful eye on all franchisees to make sure that they don’t veer off the path while trying to make quick profits. They intervene as and when necessary, so that the franchisees and their teams do the right thing, no matter what the situation.

  1. Daily Training and Practice

 

Being successful every day is not important. Showing up is.

A coach ensures that your training is unhindered. In franchising, the franchisor offers constant feedback, guidance and training. The franchisor motivates the franchisees to keep working towards refining processes and smoothening the edges until they succeed.

  1. Listening

A Coach is more than just a trainer, mentor or guide. He/she is a friend, a confidante who understands you. A franchisee is never alone because having a Coach to connect to at any time is like having a trusted friend or family member as a guide. It is a lot like counselling, without having to pay a specialist for it.

 

With such guidance, a franchising business becomes fail-proof. One such exemplary model would be India’s Largest Homegrown Burger Chain, Jumboking. Click the link below to see how they function.

<<<Apply for JK Franchise>>>>>

 

Role of Marketing & Advertising in Franchising Business

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If you are an aspiring franchisee, you may come across multiple business-related questions. Franchising business comes with multiple responsibilities. You may have to take care of several things, including setting up your business and looking after its marketing and advertising. It is simple to start, but marketing can be challenging to master.

 

The Importance of Marketing and Advertising

Marketing is a critical element contributing to a brand’s success. Franchisors currently operating have thrived over the years and have succeeded due to their investments in marketing across multiple platforms. Customers may never know your product exists if you do not bring it to their notice. No one understands this better than a franchisor. One needs to put the product out and gain. Both marketing and advertising require a significant investment of time, intelligence and money to gain visibility for the products.

 

Marketing Execution

The focus of every major franchise is to give the customers what they want. A franchisor’s marketing perspective and strategies focus on generating a favourable image for the chain. Additionally, they have a team of professionals to:

  • Handle Social Media and assorted Digital Platforms
  • Maintain Public Relations

Each of these teams has a specific role in serving and is in charge of things like the brand’s promotional strategies, executing visual campaigns, promoting the brand across digital platforms and social media and interacting with journalists.

 

Marketing- A Business Tool

Well-planned advertisement and marketing techniques can positively impact a business. Here’s how you can use it to your benefit:

 

 

A Sizeable Budget

Franchising companies promote their brand and products on a budget. Often, the company takes a flat 8-10% royalty from each franchisee. They channel 30-40% of this to marketing their offerings. This budget is substantial for the brand and offers creative freedom to multiple chains of outlets.

 

Research

Marketing involves extensive research to understand the demographics of the existing customer and their preferences, identify a target audience and get other insights. Marketing research has to be conducted over a larger and more varied group to get accurate data. Many businesses start this off by offering samples, trial products and freebies on immediate purchases.

 

Brand Impact

Even if the products are average, an excellent marketing strategy combined with the right type of advertising can help you successfully sell them. If you do not have a good marketing plan, your audience may not be able to reach and resonate with your product, even if it is excellent. If you do not encourage and entice customers to walk into your stores through your offerings, they may not be interested in your products. It will also lead your brand to become unsustainable.

In the case of a franchise organisation, the parent company designs the brand’s overall strategy and executes it. Every rupee spent by the franchisor on advertising benefits all the outlets. 

Impact of Marketing and Advertising

Marketing activities, when done correctly, provide significant benefits for a franchising business. Here are a few of their positive effects and roles in a brand’s success:

 

 

Increases Visibility and Goodwill

Once your brand is well-known, you need to sustain marketing even more, to stay ahead of the competition. As customers have several options, a well-designed marketing strategy can work in your favour.

 

Collaborations

In a franchise business, the franchisor has the financial capacity to collaborate with payment platforms, food delivery sites, online yellow pages, or even airport cafeterias and food malls. The sheer goodwill and the franchise’s popularity ensure that the collaborating partner gives maximum visibility to the brand.

 

Brand Loyalty

Franchisors spend substantially on marketing and promotions, and the goodwill quickly converts into brand loyalty. If you give your customers a choice, they are more likely to be loyal to the brand they like and have tried before. Therefore, securing a loyal following for your franchise business is essential.

 

Economies of Scale

An individual has almost no bargaining power when it comes to business. However, a franchisor enjoys economies of scale when it comes to marketing. They negotiate better. Every franchising company has its calculations for allocating a marketing budget, but eventually, the benefits spill over to all its franchisees.

 

Marketing and advertising both contribute significantly to a franchise’s success. If you are interested in becoming a part of an expanding brand, we at JumboKing have opportunities for you.

 

Click on the link below to know more.

<<<Apply for JK Franchise Link>>>>

 

 

OWN A FRANCHISE

The identity of franchising business Projects & Interiors

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Every brand outlet gets represented by its interiors and colour scheme. Aspiring entrepreneurs who want to potentially invest in a franchise need to understand the importance of projects and interiors on the brand. When entrepreneurs invest in a franchise, they can set up an outlet that resembles and replicates the parent company. The customer must be able to identify the franchise as a subsidiary of the parent brand.
Therefore, understanding the particulars of designs and installations in each outlet is extremely important.

The Function Of Design
The primary function of your store’s interior design is to be functional. Even though elaborate décor may look regal and receive appreciation, it can have less usability. Therefore, it is essential to listen to the experts in the field and trust them to get maximum usage out of the design.
Several elements go into designing interiors. The kitchen area must be pleasant to look at, comfortable to be in, and yet have all the practical aspects in place. A poorly designed space can lead to chaos daily and negatively impact your brand, but that’s the least one needs to worry about in a franchising business.


Role Of Project & Interior Team
When the franchisor’s project and interior teams get into action, they start planning every aspect of that particular outlet. The team identifies design problem areas in advance, which includes common restaurant problem areas. They pay careful attention to places where customers do not usually want to sit. They take the pain away of planning and designing the outlet and help you open your store smoothly.

Standardisation & Identity
Before your first outlet officially opens, the parent company invests in creating a template with the help of qualified and experienced designers. Experience and research boost the decisions such as logo and signage, layout, colours, furniture material, storage container capacity, and material suitable for use.

Efficiency Of Cost
Franchisor’s design team drafts the outlet design according to the brand’s look and feel and the store’s functionality. They ensure that they include a strategic layout to the visual appeal. A franchisee does not have to pay additionally for the design fees.

Efficiency Of Time
Franchisor’s project and interior teams are known to hit the ground running due to their ample experience dealing with multiple franchisees outlets. They can transform the store in less than a month and fast-track business. This method is rapid if you compare it to the time wasted doing everything in a self-owned restaurant.

Efficiency Of Materials
Franchisor’s teams ensure that every outlet uses standardised materials for the interiors. They choose more durable materials, and thus, the cost comes secondary. The franchisee can benefit from economies of scale because of the franchisor’s projects team, which has already negotiated on their behalf and fixed the best prices. These efficient materials make the interiors sturdy and last at least five to seven years after which periodic modifications and repairs can be done. The team also provides customisation to individual outlets’ preferences as required.

Correct Utilisation Of Space
With several years of experience, the teams understand how to fit the functions of the store into the area layout of a particular outlet. They design the interiors with the utmost effective use of the area. The basics entail that every interior surface is easy to clean and storage cabinets are above shoulder level but are not touching the roof or challenging to reach and clean. They avoid constructing complicated designs that could accumulate dust and cause hygiene issues down the line.
Expert designers ensure that specific zones are allocated for the cooking area, assembly space, cashier, point of sale and storage section. The franchise storage has to be very well-planned because it has to accommodate dry materials, spices, fresh veggies and frozen foods. It ensures that moisture and heat do not affect the food in any season.

Good Designs Are Your Signs
A Franchise’s interiors are made with minimum hassle. The planned design solves the storage problem or consumer seating problem, prove functional in the long run, saves construction costs, and improves the overall customer experience.

So, why go for the hassle? Get in touch with India’s Largest QSR Burger Chain, Jumboking, to keep everything smooth. Click on the link below to learn more. <<<<<>>>>

Menu Planning – The Key Differentiator in Franchising Business

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Every franchisor needs to make up their mind regarding the food experience they want to offer their customers. It can either be a Quick Service Restaurant (QSR), a sit-down restaurant, or a cloud kitchen. The menu that you plan will reflect the ambience of your outlet.
QSR usually have foods people can eat quickly, on the go and need less time to As someone in the food industry, you must know that many components go into developing and operating a successful restaurant. However, most people are only concerned about the food served there as it directly impacts them. No matter how much effort you put into setting up the systems at your outlet and staff training, all that matters is your food.

Why do Franchises Need To Plan Menus?
To align with the customer’s preferences, many restaurants tend to go overboard and present a long list of items that may confuse the visitors. It is crucial to establish a delicate balance between giving the people what they want and ensuring that the menu is also convenient for you.
Since franchising is all about standardisation, it specifically caters to the taste preferences of its customers. Franchisors invest a massive amount of time, effort and money to garner accurate market insights and create a viable menu that can be replicated and serviced across hundreds of outlets.
It requires a lot of back-end planning and consideration to plan a menu that will attract the maximum number of consumers. The menu should not just be unique but also cater to customers’ tastes and have them indulge repeatedly.

If you are interested in using your expertise in such matters, you can become a franchise owner. We at India’s Largest Homegrown QSR Burger Chain, Jumboking, are looking for enthusiasts like you. All you need to do is click on the link below to become a franchise owner!

System & Technology- The Oil In Franchising Machine

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Everything in life needs a system, and so does the franchising business. Every person in a franchising business adds strength and completes the puzzle of making it a successful franchisee. Starting something is easy, but sustaining it consistently and responsibly requires an intricate and water-tight set of systems and procedures. Hence, systems & technology work as the oil that runs the franchising machine. Now, let’s dig deeper into the components of a franchising system. 1. Daily Data Entries and Tracking In a QSR franchise, every franchisee enters each sale along with opening and closing stocks into the central system, i.e. the point of sales (POS). Every detail of the sale including the ones that go to waste or get cancelled is fed into the system. This ensures that all transactions are justified, and secures all the data so that no one can tamper with the information. 2. Transparency and Automation at Every Level A franchising business uses a tool to monitor staff that prevents any kind of unrecorded sales or undisclosed dealings. All calculations in that system are automated and simple. It also includes the percentage of GST charged on everything earned/spent, and the taxable income. It creates an environment of transparency and makes things easy for a franchisee. 3. Accountability The set system in the franchising business makes the designated person in charge accountable for their job. From stocks and sales to pilferage and wastage, everything is monitored in the system. This helps the franchisee to get accurate information about the store, anywhere in the world by simply logging into the central system from a smartphone. The parent company also gets a daily update on the performance of each outlet. 4. Daily Inventory Information and Trends Through the system, the franchisee gets daily updates on stocks that are running out and the ones that are sufficient. This data is mirrored in the franchisor’s system. The franchisor then allots stocks accordingly without wasting any additional material. A waste report is made to declare why certain products were wasted. By comparing monthly reports, and understanding the store-wise consumptions, the business garners invaluable customer insights and trends. 5. Data security and upgrades A dedicated technical team is an integral part of the franchising business. It takes care of the security of the systems and processes. The team keeps tweaking the system as and when new updates are available in the software, and prevents hacking and unscrupulous transactions. This also acquires better-licensed software programmes for the business so that processes can be accelerated to offer more real-time insights. 6. Loyalty Programmes For a franchising business, customer loyalty means a lot. To keep customers engaged, the franchisor indulges in loyalty programmes that keep exciting offers and benefits for their most loyal customers. This results in benefitting the franchisee. Based on this, the business gets a database that can discern what is working versus what is not. This database also allows connecting directly to the customer while launching something new and delighting them with exciting offers and discounts. 7. Accounts, Audit, Taxes and GST The in-built software programmes for accounting in a franchise business enable the individual franchisee to manage accounts at no additional expense. Everything is pre-calculated, and reports for everything are automated. The system can calculate gross and net income while showing monthly graphs. This makes the process of audit, taxation and profitability report effortless and quick. In conclusion, when operations in a particular city function as a well-oiled machine, the franchisor can think of expanding to other cities thereby making more and more customers. If you are on the path to scaling up, get Jumboking, India’s Largest QSR Burger Chain franchise, today. Click on the link below to know more. <<<<>>>>

The Key To Successful Franchising Training

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How important is it to train an employee? Some employers can be under the impression that hiring a candidate after perusing their resume is enough. But is it? Every level of a franchise operation needs training. Let us examine how. 1. On-boarding a new franchisee Every franchisee is the captain of their ship and should know how to steer the ship, clean it, maintain it and rescue it in an emergency. The franchisee training programme handholds the individual, teaching them all aspects of operations. From assembling the product, packaging and billing to day-to-day management. Every franchisee is taught the basics of how to: Maintain Accounts Read A Profit & Loss Statement Strategies Sales Handle Employees Maintain Food Stocks Keep An Inventory Utilise Communication Skills This training helps a franchisee manage all the operations single-handedly. A franchisee with this training is prepared with a contingency plan whenever a challenging situation arises. 2. Training experienced franchisees Robust brands believe that every hardworking franchisee should grow along with them. Like true champions, they should continue to aspire for bigger, higher, and stronger, ones instead of limiting themselves to only one outlet. The franchisor helps the experienced franchisees to get trained. They are given the vision, the goals and the means to become adept at running multiple outlets simultaneously. In a franchising business, the franchisor invests in the leadership skills of its franchisees. Instead of containing their training to the initial 4–6-week induction module, they keep franchisee training as an ongoing interactive process. They conduct sessions on various life skills, making ‘learning’ a lifelong and shared experience. 3. Training store managers Every level of staff in an organisation needs a different kind of training that is relevant to their work profile. Similarly, a store manager should also know every aspect of the day-to-day operations of the outlet. They must be adept at managing the outlet via a customised set of tutorials, along with personal training. That is what a franchisor provides. The training enhances the skills & gives knowledge about- Keeping Accounts Servicing Customers Billing Customers Maintaining Inventory Stock Keeping Handling Emergency Situation Safe Hygiene Practices Basic Etiquette Managing the team 4. Training the cashiers Accounts and handling daily cash transactions is a very responsible task. A person appointed as the store cashier should have a keen understanding of accounting, billing and maintaining cash and balances, and should be ethical and honest in all dealings. Today, customers have a plethora of options to choose from while paying for even a basic burger and fries order at a food joint. The franchisor trains these cashiers so that they are aware of how to- Provide The Best Customer Service Handle An Emergency Manage The Team 5. Training the front-end staff The front-end staffs are the final and most direct link between the brand and the customers. Thanks to the franchisor’s ease offered by online training modules, every single front-end staff member across any outlet of a brand get trained in the same manner. The training ensures that all of them have received the code of ethics instilled by the brand. Irrespective of the designation, with an enthusiastic learner, the possibilities are limitless. After all, growth should be at all levels, and not restricted to only a few. With the very same belief, India’s Largest QSR Burger Chain, Jumboking has been training everyone at all levels. Jumboking is now extending its hand towards all business enthusiasts. Click on the below to know more. <<<>>>

A Franchisor Supply Chain & Its Benefits

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It’s natural to have doubts when you are unaccustomed to how a franchising system runs. Let’s make you aware of how a franchising system works and its supply chain benefits.

1. Optimal supply chain management

If you are an individual business owner, you know the struggle of bargaining. There is no consistency when it comes to opting for a permanent supplier who would agree on cheaper rates for your raw materials with good quality. With the franchising system, this is never an issue. A Franchisee, all thanks to its Franchisor, enjoy preferential rates on sourcing all year long. The bulk raw materials get supplied to the franchisee without any compromise on the quality. Franchisors add tremendous value to improve quality thanks to optimal supply chain management where in- the ability to store large volumes of raw material in cold rooms is done using modern technology. These rooms can process raw materials – for example, potatoes – for an entire year’s usage. The franchisor also helps the franchisee with its ability to invest in large manufacturing units to process raw materials into ready-to-use products making the most out of the supply chain management.

2. Hygiene

A large number of production makes it difficult for an individual business owner to maintain the hygiene factor. With no supply chain management, an individual business owner faces its non-hygienic doom faster than one can anticipate. In a franchising business, the franchisor ensures that the supply chain management is performing to its full potential. It helps in preventing food-borne illnesses, contamination, and potential outbreaks. It also ensures that sustainable and certified practices are in place to satisfy hygiene and health-conscious consumers.

3. Utilisation Of Technology

For individual business owners, confined space restricts them to make a shift from old technology to modern. As for the franchisees, the franchisor’s entire business relies on the usage of modern technology.

Technology like IQF freezers increases the shelf life of products using state-of-the-art technology, avoiding the usage of preservatives. It can store the material at minus18 degrees celsius.

The ‘Freezer to Frier’ technology allows stores to fry one patty at a time; after receiving the order from the customers. Each product piping hot is served to the customers. The franchisor also uses assembly technology instead of needing specialised chefs to deliver standardised taste, 365 days a year.

Even after all the technology costs involved, the final product that lands at the store are 15-20 per cent less if compared to what the individual business owner would have incurred had they tried to make the product on their own. The franchisors bet on the strength of massive volumes to improve supply chain management. It includes the utilisation of technology to improve demand forecasts, purchase compliance and the ability to weather unexpected storms.

Talking about all these benefits has brought us to an important question- Will you start as an individual business owner, or will you join hands with the most rewarding business- the franchising business?

If you are keen towards the latter one, let us inform you that India’s Largest Homegrown QSR Burger Chain, Jumboking is looking for an enthusiast like you. All you need to do is click on the link below, and soon Jumboking’s franchise will be yours.

Franchising Business And Its Real Estate Advantages

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Have you ever seen old store images of famous brands like Starbucks, Mc Donalds, Subway and Jumboking? If your answer is yes, then you know where we are heading, given the heading of our blog. If not. Then it is our responsibility to inform you that- It was not that great of a start.
Hard to believe? The feeling is mutual, but it is the truth. Real Estate, these two words have far more importance in any business than you can fathom.
Looking at the growth of all these Franchising businesses, it is evident that all these could have been possible because of a strategic Real Estate Plan.
Establishing outlets in places where people can easily find you need more work than you think. There is more than the eyes can meet. The most difficult situation arises when you want to acquire all the vital locations for your business, but hurdles seem to have attached themselves to a never-ending story.
Yes, the struggle is real. But do you know what’s more real than that?
A Franchising business that doesn’t let you get affected by all these hindrances.
Sensing wide eyes on the screen. Yes, you read it right. A Franchising business. It’s ruling the food industry with the philosophy – “Unity is Strength”.
“Let us tell you how!
1. The Access To A Property Bank
Imagine you are planning to start a business. What will be your first step in getting hold of a place?
Connecting to a broker or finding something online, right? Endless calls, and endless negotiations, leaves you right where you started. Jumping to conclusions and later regretting going for the first property you saw because you were too agitated hunting for a perfect location.
This never happens in a Franchising Business.
In a Franchising business, the franchisee has the privilege of a core team that takes all the burden.
Right from creating a property bank and identifying the apt neighbourhoods to hunting for an ideal location, they do it all.
The core team, with their expertise, identifies 5-10 areas in the city where the business is likely to do well. Known as the sub-zones, these areas in the city have restaurants that are already thriving which indicates that the market is vibrant.
With time and experience, the core team begins to identify a larger bank of convertible locations. Luck plays no role here. It is solely on a well-thought strategic science that filters out most of the uncertainties from the process.
Working with a property bank leaves you with multiple viable options. It makes negotiations better for rent as well as gives you a great head start for your Franchise business.
2. A Safety Net For Landlords
Surprising as it may seem, not all property owners want to hand over their property to a brand outlet on rent, even if it means a better income. Strange, right?
Welcome to the strange world of business!
There are several reasons for this. But the franchisor’s core team never takes no for an answer. They mentor and counsel the property owners, explaining the various benefits they could receive if they leased out their shop/location to a stable brand.
The franchisor plays the role of a matchmaker, pairing the right landowner with a diligent franchisee. The efforts put in by the core team create a win-win situation for all. The franchisee gets a high-performing location, identified and vetted by the team, as a better deal than the market while being legally secure. On the other hand, the property owner gets a constant and steady income through rent. By putting faith in the franchisor’s integrity, the landlord is assured of a guaranteed sum of money each month, plus a safety deposit.
The franchisee, without any struggle, gets the property he or she always had an eye for.
3. Better Rentals
How often do you negotiate in your daily life? Once or twice while buying vegetables?
Many people believe negotiation is a petty thing to do. Remember, things that seem petty sometimes are actually an art honed with experience. One such thing is- The Rent Negotiation.
When you choose to team up with a franchisor, you have the advantage of having an expert team negotiating on your behalf. Rent negotiations have to be fair to the property owner as well as to the franchisee. If you negotiate too hard and get a bargain deal, it may be short-lived. Other brands will make better rent offers to the property owner who will eventually be tempted to opt out of your contract in favour of the higher bidder, after the first year of lock-in. On the other hand, if you have negotiated poorly, the business will not make as much money, and you will feel that you are working only to pay the landlord his rent and the franchisor, his franchisee fee.
Rents are variable. However, in a brand franchise, the parent company takes the lead in pre-negotiating basic rents and safety deposits. An ethical brand will ensure fairness for all making sure that the franchisee gets the property at the best possible rate. It is more challenging for an entrepreneur to venture to scout for locations on their own, and have to crack the deal by themselves.
That’s out of the picture for you because the franchisor’s core team takes the burden for you.
4. The Courage To Say No
Ever been in a situation, where the word no is stuck in your throat yet while responding the only word that you can utter is yes?
Well, that’s what the brokers do.
When you choose to opt for a broker to help you find a perfect location for your business, they only look for profit. Cracking a deal is what they do best. They may not understand your requirements in detail. Brokers tend to show properties that are available in the market; they don’t necessarily create property banks. All they want to do is to close the deals quickly. In this process, one tends to lose the best deal for their business.

When you buy a franchise, the franchisor’s core team knows how to say no to the broker in case they feel cornered. It results in getting you what’s best for you.

Take a moment. All this information could be too much for you at a go. So, take your time to process it while going through the link below.
<<<<<<>>>>>>
Yes, it is Jumboking. India’s Largest Homegrown QSR Burger Chain that offers the same assistance as mentioned in the blog.
It is surreal, but it is true. Go check it out now.

How Franchising Businesses Emerged!

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Business- the term doesn’t seem to have an expiry date. It has been since the beginning of decades one cannot pinpoint. It’s just there. The exchange of goods for goods and the exchange of goods for capital turn everything in life into a business. Some businesses succumb to keep up with the trend whilst some businesses boom with time. Now, let’s shift the focus from all types of businesses to Restaurant Businesses. Will you believe if someone tells you that it does come with an expiration date? If your answer is Yes, congratulation on being one step ahead of the rest. But if you still think that the answer is No, please do not stop here. Let’s just go back to 2020 – The year of doom brought on by the pandemic. Many restaurant businesses had fallen because they couldn’t take the hit. The dreams of young entrepreneurs got shattered. The ones who stood strong were the ones who preached the quote – “Unity is Strength”, the franchising businesses. Most entrepreneurs start a business with full enthusiasm. They get into the cycle of back & forth work and exhaust themselves in a small span of time. It leads to the business crumbling into pieces. Now, it must feel like a discouragement but remember, this blog isn’t about averting young entrepreneurs or like-minded people like you who want to start a restaurant business. It is the opposite. This blog is to channel the business interest in the right direction and make it bene?cial for you in every possible way. Let’s show you how. The franchising businesses survived the hit of the pandemic, which everyone witnessed. Now, let’s see how they emerged over the years. 1. The System In a franchise business, everything has a system. Right from setting the menu, checking the quality of the products, distributing it, keeping track of the sales and helping the franchisees with every other detail, the ingrained system streamlines everything. It leaves no space for the owner to exhaust their energy and helps them focus on things that can help them scale up their business. 2. Products & Their Quality The best thing about a franchise business is that the products never change their course of taste. Irrespective of the numbers they are produced, the quality always remains intact. The franchisee never has to stress about the shortage of product in their store as the franchisor always make sure that everything is in place, EVERYTHING. 3. The Backend Work As everything runs smoothly in a franchising business without any hiccups, the franchisee can be stress-free about the backend work which usually isn’t the case for an individual restaurant owner. There is no need for the franchise owner to run and drain themselves in the minuscule things that always get taken care of by the franchisor and the well-established system. 4. The Focus In the franchising business, the franchisor facilitates everything leaving space for the franchisee to focus more on the consumers which only brings more scope for the franchisee to multiply their business and get 10X growth. Well, if you think that all these were made up, let’s clear your doubt with just one brand’s name- Jumboking. A well-established brand in the franchising industry that has emerged exponentially over the years. If you are an entrepreneur interested in starting a business that only knows how to benet, your hint is in the below link.

Apply Now. https://www.jumboking.co.in/apply-for-franchise