Franchising your business
Inventure specializes in franchises business consulting in India. We provide a full range of franchise business consulting services to all types and sizes of businesses, public and private, startup and established.
Our team of consultants has extensive knowledge and experience in both the business world and the franchising field. Our principals are directly involved in each project, and our unique structure allows us to tailor our services to each client's needs while keeping our fees competitive. We specifically design each individual franchise consultant program to meet a company's particular needs and goals.
Of course, one of the first steps in the process of franchising your business is to determine if your company is indeed "franchiseable". As franchise consultants, Inventure can help you analyze your concept for its strengths and weaknesses. Through our extensive franchises industry experience, we know what components are necessary to attract qualified Franchisees. We have developed several easy "tests" to verify that your company is a candidate for successful franchising. Should it be determined that your company is not yet ready to franchises, we can help you develop a list of action steps to better position your company for growth.
If you feel that more extensive planning is advisable prior to franchising your business, Inventure also can create:
- Business Plans
- Franchise Plans
- Feasibility Studies
- Strategic Growth Plans
Most importantly, during the process of developing your franchise system, Inventure will work with you to best structure your program to achieve your growth goals. Whether you want to sell thousands of franchises or only a few dozen; whether you want to keep your business or eventually sell it; whether you want to build a "personal" relationship with each Franchisee or not; it is important that the franchise program is properly organized in order to help you best achieve your specific goals and to match your own management style.
Franchising is covered under general business laws in India. When correctly drafted, these legal documents clearly spell out your relationship with your Franchisees and your mutual responsibilities. With Inventure’s approach to franchise development, we also help you structure your franchise program in order to best meet your company's goals.
In addition, your franchise company may need other legal services as well, including:
- Trademark Registrations
- Forming corporations or other appropriate legal entities
One of the benefits of the Inventure approach is that during the franchise development process, we help you implement strategies to minimize your legal exposure as a Franchisor.
Franchise Operations & Training Manuals
There are many benefits to having a comprehensive, well written set of Operations Manuals for your franchise program. These benefits include:
- Operations Manuals are invaluable and effective training tools, promoting consistency and quality throughout the franchise network;
- They help your Franchisees run their businesses more successfully;
- When properly drafted, these Manuals can serve as one of the strongest selling tools for the franchise program;
- Operations Manuals contain the details of the proper procedures, saving both the Franchisor and Franchisee valuable time and money by reducing the amount of time needed to assist new Franchisees;
- When all the standards of your operations are detailed in a clear manner, these standards and procedures become part of your Franchise Agreement;
- The act of creating Operations Manuals can enhance your company's systems by forcing you to examine and improve the way you currently operate your business;
- As you react to new market trends, technologies and competitive forces, Operations Manuals can be updated to reflect new products, services, policies and procedures;
- They strengthen the operations at company-owned locations.
Inventure can create a complete set of Operations Manuals, including:
Pre-Opening Procedures Manual
...contains everything a new Franchisee needs to know to launch the business quickly and without previous industry experience.
Daily Systems and Procedures
...details what must be done, how to do it and when to do it so that the new Franchisee can operate successfully and profitably.
Marketing & Sales
...organizes and coordinates your recommended or required marketing programs in order to help your Franchisees sell their own products and services, while at the same time increasing name recognition for the brand as a whole.
Bookkeeping & Accounting
...explains where and when to get the figures, how and where to record them, what to send to the Franchisor and what it all means.
...details personnel policies, job descriptions, hiring and training procedures, remuneration and benefits, terminations and all the other areas of this increasingly complex area of operations.
...(needed if your product or service is highly specialized) explains the specifics for the fabrication of your products or technical instructions for your professional services.
Inventure will first advise you regarding which Manuals should be developed. Next, we will help you determine the contents of each needed Operations Manual.
Then, with your assistance, we will compile the needed information and draft the Franchise Manuals for your review and comment.
Advertising & Public Relations
Franchising involves two types of marketing:
- The Franchisor’s marketing programs to identify and attract qualified Franchisees:
- The marketing programs the individual locations use to attract customers.
Inventure will help developing cost-effective marketing strategies for smaller businesses. Our areas of specialization include:
- Franchise Marketing Brochures
- "Niche" Marketing Programs
- Marketing Campaigns to Attract Franchise Prospects
- Public Relations Campaigns for Franchisors
- Local Store Marketing
The best-structured franchise program in the world is meaningless if you do not sell any franchises business. The principals at Inventure have strong experience in franchise sales in India. We can be of invaluable assistance in this area, including the following:
- Targeting Prospects
...The first step in achieving success in any sales program is to identify the types of prospects most likely to be interested in and qualified for your program. During the franchise consulting and development process, our franchise consultants will help you determine your most likely prospects and design your franchise program to be most attractive to these target prospects.
- Franchise Marketing Plans
...If desired, we can help you create a marketing plan to help you establish and reach your sales goals.
- Sales Strategies
...Once you have determined your sales goals, the next step in the process is to devise and implement sales strategies that will help you meet these goals. There are a number of sales campaigns that have proven successful for Franchisors. We can help you develop the most effective strategy for your program.
- Franchise Sales Training
...Inventure can train you how to sell your own franchise at the outset of your franchise program in India. This training involves organizing the franchise sales process, steps in the selling process, maintaining control of the selling process, weeding out undesired prospects, overcoming objections, closing the sale and sales follow-up. We will role-play with you to make you more comfortable making presentations. If desired, we will also attend your franchise sales presentations to help answer any questions a prospect may ask and critique your performance in an effort to improve your sales abilities.
- Recruiting & Training Sales Staff
...As your network expands and you retain franchise sales people, we can also teach you how to train and manage your franchise sales department.
Once your franchise program has been developed, it must be implemented. Questions are bound to arise as you speak with new franchise prospects and deal with your first few Franchisees. While you are thoroughly familiar with how to successfully operate your franchises business, knowing how to operate a franchise system is brand new to you. This is where we can help you. Because of our years of business and franchise experience, Inventure can be an invaluable resource for you as you begin to operate your franchise company. Some of the areas of management consulting assistance include:
- Franchise marketing programs;
- Training programs;
- Real estate site selection and lease negotiations;
- Legal documentation;
- Franchisor personnel needs;
- Franchise sales programs
We can also help you explore the advisability and implementation of an area development program, sub-franchising, joint ventures and other methods of expansion.
Rather than leaving you on your own to fend for yourself, we can be available to assist you in growing your new franchise company in India more profitably and rapidly.