Secrets of a Franchise Model

Creating a successful franchise is the dream of many businesses but it is not an easy process.

Wednesday, September 22, 2010

Essential parts to the conceptualization and implementation of a franchise development plan:

Clearly defined business concept
- What exactly is being sold to future investors

A strong and attractive image
- An image that sells the business concept

Incorporated as a franchise operator
- To function as a franchise requires a specific organizational setup

A solid financial model
- To sell a franchise you will need to demonstrate it is financially viable for both you and the franchisee

Attention to the legal side
- The contract will need to specify items such as royalties, lifetime, renewal, territory, obligations, intellectual property rights, dispute resolution process and reasons for termination

Quality operating manuals
- Containing every detail the franchisee will need to operate according to established standards

Team-working with franchisees
- Provision of technical assistance and training

Developed supplier network
- For all necessary products, sourced both locally and nationally

More on this topic

Franchises Promoted in Guatemala

July 2013

The government and Francorp Central America have launched the second part of a program of intensive courses in franchises.

A press release from the Ministry of Economy of Guatemala reads:

The Deputy Minister for the Development of Small and Medium Enterprises, Siegfried Lee and the CEO of Francorp for Central America and the Caribbean, Jose Fernandez, described the progress made on implementing the Vice Ministry's Strategy for MSMEs and the National Strategy for Franchises.

Franchising: A business Model for Many

February 2013

The market offers from franchises with free access, to large chains with royalties over one million dollars.

An analysis by Alvaro Santana reviews how franchises - as a business-model - suit different business attitudes, maintaining its main advantage: you avoid a "learning curve", minimizing the risk of failure.

Costa Rica: Franchising, a Booming Business

May 2011

The growth and positioning of franchises in Costa Rica is encouraging more entrepreneurs to opt for this alternative.

The franchise model under which a company sells another company the use of its trademark and business concept, and which must be operated according to certain characteristics identified by the trademark owner, has gained strength in the country in recent years.

The Four Pillars of a Franchise

August 2009

Franchising is always an option for expanding a successful business model.

In theory, any business can become a franchise. However, not all activities are ideal to be developed under this model, so a good diagnostic is the first step, to check the viability of the model in each particular business activity.

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