08 Sep, 2017

Operations Manual Franchise

Operations manual franchise When an organization is in the process of expanding, it always looks for ways and means to minimize the incurring cost and maximize its profits and would surely opt for those options in which it has less complexity and hiccups. In earlier days of business the only system that was followed, was to open operations in different locations and set up their own offices and stores, make recruitments and manage staff. Today, the trend of operations manual franchise has taken shape with a great enthuse and huge success. Well established companies can now set their footprints on unknown markets with the least headache and worries. No need to put in all your resources and extra resources for this as that will be taken care of by the franchisor who will be appointed for this purpose. All that you need to do is Franchise Your Business by selecting the right Franchisor and at the right locations. But for this you need to know many things and be aware of the formalities that need to be followed. When you go for selecting a franchisor you have to know many details about the franchisor, his location, the market, its trend, how your company's reputation would be etc. While going for franchising, there are many agreements and other documents that need to be prepared. The terms and conditions are to be laid down clearly. There needs to be some declarations that have to be made which would include details like the number of years in business, the details of existing franchisees, what is your proposed plan for expansion and diversification, and also certain financial information of the franchisor too. So prudence need to be adapted while making the declaration papers. Code of Conducts is to be laid down. The site of operations manual franchise, the demographical limit etc need to be finalized. Detailed awareness of the company's products, its specifications, its advantages etc. need to be well put in to the franchisor and proper training for operational personnel needs to be given by the franchisor. The franchisee has to give a fixed amount as fee to the franchisor and also pay royalty for using the franchisor company's brand name, goodwill, etc. for his own profits. This amount needs to be determined. So also the commissions, marketing and advertisement fees and other such fees need to be decided. Above all, there needs to be a clause on litigations, if any, that may arise. In case of termination of operations manual franchise what would be the mode of coming to terms? There also occurs many governmental interference and requires departmental clearance. Sometimes, you may seek for a consulting firm to take up the entire responsibility. In that case, searching a suitable firm is yet another tight rope walk.