08 Sep, 2017

Franchise Mall

Franchising is a very successful business model which involves the operation of a business on behalf of the parent company, and using its brands to market the business and selling and providing services relating to its products and services. If the franchising program has been designed to ensure independent sustainability and ease of work and decision making, then this model can be very easily copied with several businesses including malls, especially in the form of retail outlets. But most malls have their own sets of terms and conditions which the franchising company must qualify before it allows a franchise operator to open his outlet, including the fact that business has been successfully run and has been earning profits since the past three to four years; the business should have a positive manageability track record and the model of the business should be as such that it can be replicated very effectively by its franchisors anywhere. Before opening up a franchised retailed outlet in a mall, it is recommended that one should consult a professional franchise consultant who would be in a better position to provide guidance, since the way things work with franchises in a mall are very different from the traditional franchised outlets. There is a great debate on whether franchised outlets of different known brands can successfully earn profits if they are located inside a mall. Those in favour of having franchise brands establish outlets inside malls consider these venues as having great potential for the business since they pull in a lot of customer traffic. On the other hand, those who are against setting up franchise outlets inside malls find the rental space to be too expensive. However, the costs of establishing your own business inside a mall are nearly equivalent to the cost of purchasing the franchise. Moreover, the costs to purchase or rent land otherwise in a space other on a location like a street can be far more expensive associated with other incremental costs, which a business would save by establishing a franchise inside a mall. If you want to ensure strong customer traffic, then the malls are the best places to establish your very own business. This is why most parent companies prefer operating franchises inside malls, since they attract a lot of potential customers and also because they have become highly popular over the past few years. Malls provide you with a sense of secure investments, and there is a high probability that your business would be a success.