Blog Archives - Brands n Spaces

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November 25, 20160

Owning a Franchise or an individual business are two different endeavors.

Wondering which kind of entrepreneurship, is a best suited for you?

Follow the built-in proven business model roadmap to success or become your own Boss. There are plenty of options available in both of them.  Now you can choose your destiny by taking the road less taken.  Before you enter a franchise always contact a franchise consultant for risk-free management. In individual business, there is freedom to choose and liberty for product diversification.

Franchise Individual business
Establish Network Start From Scratch
Stable Investment No Fixed Investment
Earn royalties & fees No royalties & fees
Build-in the target market audience Local audience
Product elasticity Flexibility & Freedom to choose products, services.
Brand Reputation Equals loyalty Sole proprietors Goodwill Builds loyal customers

Learn the little-known factors that are affecting your organization, whether individual Business or Franchise.

  •         Pros & Cons of Individual business.

     Pros

  1.    Take absolute control over your business with individual business.
  2.    Quick response in the decision-making process.
  3.    Less Government control and taxation implemented.

     Cons

  1.    Though, all powers of decision when rest on a single individual may cost the organization if taken any wrong decision.
  2.    Liability covers all proprietors’ assets. You are responsible for debts.
  3.    Small business doesn’t have a social media presence or proper marketing plan.
  •         Pros & Cons of Franchise.

     Pros

  1.       Easy expansion of Capital.
  2.       Minimized risk.
  3.       Structured Framework for success.

     Cons

  1.       Heavy Franchise Investment Cost & Less flexibility.
  2.       Falls expectations – Buying popular brand does not give instant success.
  3.       Competitive Nightmares-Similar franchise everywhere.

Selecting between Franchise and Business is like choosing among safety or freedom. Both the options have their own popularity, esteems and drawbacks but, it is essential for Businessmen is to consider all the factors affecting their business values and gaining a profitable market segment. Franchises give the best bang for your bucks. Well, so do individual Businesses, just you need a better willpower and understanding to overcome all those flaws. If you don’t have any previous Business experience, do your homework well.

Perhaps the most sure-shot way to boost profits is to put extreme efforts and right approach to enhance your marketing strategy. Gain confidence, know the correct values before investing, and find an attorney to consult about your Business. Understand the market segment before handed, figure out the key customers, and be honest.  Fuel your business growth right now with these practices and you’ll receive remarkable results.


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November 15, 20160

Secrets Every Entrepreneur Needs To Know

Owning a franchise brings out a whole new spectrum. Ever wonder about getting the key to building a great franchise? Owning a franchise can become a success kit if taken necessary tools into consideration. Franchise size, plus growth rates matters when dealing with the new franchise investment. Finding the turnkey solutions will advance the growth rate of your franchise. For those breakthrough solutions with franchising effectiveness and efficiency, you are there. The Franchise is genuine and secure your business. Check out the perk of owning a great franchise.

  1. Legal Assistant
  2. Growth Opportunity
  3. Proven Concept(Ready Made Business Model Available)
  4. Brand Awareness
  5. Global Exposure
  6. Better Sales

o Step-by-step guide:

  •   Choose Wisely: It is important to choose your franchise wisely. Know the market segment, competitors, and product popularity before investing in it. Though franchising sounds wonderful, but before making decisions understand the market risk.   Understand the economy of scales and follow powerful marketing trends.
  •    Identify the Franchise Package-

Know your initial cost of licensing fees,land purchases, building construction or renovations, equipment required. Review your franchise disclosure document and conduct validation calls with franchises.

  •   Crack the Nutshell:  Should you lease it or buy?  Are there any government permits required? For all these questions always hire a franchise attorney to handle your legal matters. Understand the importance of maintaining healthy relationship with the owner of your trademark. Proper site selection is yet another crucial aspect. Employment training is as vital as marketing and product supply. Figure out about annual initial investment or any hidden costs involved. Promote compliance towards franchise laws, rules and norms. Designing apt strategies and tactics are for essential franchise development. This also helps in correcting violation, if any.
  •  For Rapid Growth, select the right opportunity. People who strike to make their ideal business run  paramount value businesses. Building up a franchise is a major decision. With time, efforts, and versatility you can earn world-class business opportunities. As Indian Economy continues to maintain a sustainable growth rate in GDP up to 6 to 7 % is escalating. Market prediction as per the source states nominal sales are likely to increase 10% by the year 2020.  This means the market condition is ripe for a franchising boom.
  •   Pioneer Your Imagination: Success rates of owning a franchise are high. Yet, success is never guaranteed. Find the road map to your destination.

Supercharge Your Franchise Growth Now!


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November 13, 20160

Did you run-out of innovative ideas to grow your franchise business? The secret ingredient to enhance your business is now at your fingertips. If you are searching for profitable solutions, the best way is to measure, analyze, and upgrade your business flow.

11#Time-Tested Methods to Improve Franchise Business.

To promote business operations follow these quick guidelines for better results.

  1.    Select the Right Business- Franchising your business creates plenty of opportunities.  Before you invest, it is advisable to make the right choice when selecting a franchise.
  2.    Know about the industry- Get the facts straight! In-depth research about the industry, it helps to boost the business in future.
  3.    Improve Business Skills-A franchisor will train you and your employees about the system. If you have, good skills that help you make better financial decisions and run the business. A franchisee should dig into the facts and analyse the situation.
  4.    Better Planning -Mapping the strategies help to increase the business in the competitive market. Deliver the best master plan for your franchise.
  5.    Understand your Target Audience– what demands your potential customers hold. Match your consumers needs and build your brand voice.
  6.    Marketing Tactics– Make marketing franchise friendly! As a franchise, make sure that you are using effective marketing techniques. Use fair means of methods to achieve lucrative solutions. Cluster campaign has more impact on the local market than a single campaign. This leads to the promotion of the brand and saves money. A franchisor can offer financial incentives to franchisees to blend in the campaign.
  7.    Do Not Slash Prices-Discount can increase sales, but it also devalues your brand name if not done promptly.
  8.   Give Value-added Services– This benefit in the franchise’s growth as customers feels connected with the brand.Highlight benefits and provide solutions to their problems.The franchisor should educate their prospect buyers to create a win-win situation.
  9.    Avoid Bottlenecks– A franchisee should consider cross-training employees for dynamic employee and employer relationship. The best way is to hire people with inevitable knowledge of the field.
  10.    Track your Strategies– Review the process; engage franchise networks to achieve terrific success. Track the loopholes and create measures to avoid them.
  11.    Manage the Growth– Discover the latest tools and techniques to manage your business. Follow the trends and take control. Appeal your masses to grow a successful franchise business. To get that rapid expansion it is necessary to estimate your franchise.

Franchising is a vast model to learn. A franchisee need to respond to their audience well. Have a set of priorities and develop the insight!


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November 9, 20160

Are you a store manager or a retailer who wants to attract customers and advance the revenue? In this cutthroat market competition, owning a Small Business is more responsive. Businesses want to leverage their stores with proactive solutions. If you are thinking about cost, effective ideas to generate that brand empowerment than it is time to take the retailing to the next level. Retail Businessman must learn how to win their consumers over the key growth!

Before you enter the market, it is advisable to have a clear idea about the market segment. You must know, and understand the basics of marketing. Set daily goals, & Co-market your business with similar clients. Impose extreme planning, and analyze your customers.

If you think that discounting will make overnight revenue, then you’re wrong! Although, it helps to boost the sales with proper techniques, planning and research. For example. The  Cyber Monday Sales and Black Friday discounts are blooming in the market trends. You need to focus on your customer’s wants and desire.

Measures a retailer should apply to enhance the retail sales.

  •    Know The Industry
  •    Understand Your Shopper
  •    Create a brand name
  •    Control Your Inventory
  •    Unique strategies
  •    Track your business ROI
  •     Identify your competitors
  •     Loyalty program- To Achieve Customer Loyalty.
  • Be Personal
  • Make your customers feel better–Treat them nice!
  • Fix Customer’s Problem
  • Narrow your niche to concentrate better and become a retail specialty.
  • Build popularity through word-of-mouth advertising
  • Manage your finance
  • Maintain apt financial records

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November 4, 20160

Are you considering to selling your franchise? If you are buying a franchise just to sell it later on than buckle up and better ‘Build Your Sell’. Finding a desired buyer is crucial but, with a little help and guidance establishes a whole new spectrum.

Franchisor conceals and heals every drop of money invested in franchise business and there can be multiple reasons why your franchise never worked out at first place. But there can always be a smoother way to resale it. Through only careful strategies and tactics of developing efficient franchise will offer maximum returns. Start with easy steps of planning to advertise your franchise. Create an axiom that helps construct a brand that sells.  Before selling a franchise numerous questions arises such as:

Do you need to tell your Franchiser before selling?

How to increase the value of your Franchise Business?

Evaluate your business details such as planning, organizing, marketing strategies will help to implement and recognize better resources.

Which Documents are required for resale?

Should I sell my Shares or Assets?

How can I leverage on tax liability?

But, don’t worry about the complicated procedures that are time consuming and follow the ultimate guide to know, the Do’s and Don’ts of selling a franchise-

Do’s –

  • Keep growing the sales while most franchisees don’t have enough time to make their business grow then make sure you give the best performing franchise to a new buyer.
  • Sell fastest at highest price possible by hiring a professional franchise broker or a franchise consultant.
  • Do give factual details, direct answers related to your ventures financial or management condition.
  • Do sell it to someone who knows the thumb rule to run the Businesses and can turn your venture into profit bearing ship.
  • Things to keep in mind before selling your franchise is to follow co-operate assessment procedures. Let your Franchise attorney handle all your legal procedures. One the day of final settlement, make sure to keep a track record of the stocks values.
  • Enhance your relationship with your franchiser for future endeavors.

Don’ts –

  • Do not exaggerate the true value of your business as the buyer is not a foul and will eventually understand it.
  • Do not make a hush-hush decision with fear of losing opportunities or in excitements. Obtain experts suggestion on the matter.
  • Do not make black sections or faux your buyer with funny comments or words and fake profile questionnaires.
  • Do not sell without checking their legal papers or signing documents.
  • Do not lose hope as the deals can fail over time but, there is always going be that right customer for you.

Selling a franchise for some might be giving away their whole lifetime’s work and thus things can be a little rough. But after following these franchise selling solutions you’ll get the value for your Business. If you want to maximize your profit make sure to consult a Franchise consultant at the time of sale to gain that sigh of relief.


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November 3, 20160

Want to seek profitable retail business opportunities? If you are searching to build a corporate world for budding entrepreneurs then Gujarat is the right choice. Gujarat is the prime location that gives a platform to several Businessmen.Gujarat is not only the hub of chemicals industries but, also this land of legends specializes in premium industry sectors like Garment Manufacturing, Merchandise Products, Textile Market, Jewelry & Gems, Art Supply Stores, Healthcare, Chemicals & Pharmaceuticals retail outlets and much more.

Retailing involves a chain of buying and selling manufactured goods. The retailing chain includes a manufacturer, a wholesaler, a retailer and the final outcome is provided to consumers.

Retail Business is most profitable venture as the cost of investment is low then the profit margin earned by the retailers. Retail Business is a lucrative opportunity that offers maximum exposure to profit and revenues. Gujarat small Business concentrates on supplying and satisfying consumers. These retailers’ emphases on creating oriented goods by identifying consumer’s demand.

 

Before entering any business segment, it is necessary to do that math which aids to find solutions.

Retail Math 101 –

  • Gather resources- The key of every successful business is to have premium quality products. Stocking your shelves with distinct merchandising and create the unique theme.
  • Give consumers a reason to visit again- Strengthen the bond with your customers by providing them value for their money offers, freebies or giveaways can add up as a bonus and build a better relationship with customers. The retailer can also provide an extra buying incentive, free home delivery service and after sales, services to reinforce a smooth buying and selling flow.
  • Go social- Now a day’s retailers can open online stores for their physical store and make more profitable deals out of both. The state of online retail is increasing and to keep up with the new age technology it is necessary to maintain an online selling website. Better awareness will generate traffic for those customers who prefer to shop online. Social media sites have become an integral part of consumer lifestyle and needs. It is the best option to own an online- retail store.
  • Get feedback & implement their suggestions- Customer is always right! Always make sure that your customers are satisfied whether with their complaints, suggestions or demands of a particular choice. It is vital to take into consideration of their feedback as well for better customer and retailer relationship.

With rising customer’s expectation, competitors, and retail brands are increasing their potential. The retailer can gain consumer loyalty through multiple ways such as providing loyalty solutions, promotional offers, and payback schemes. Whenever you see any retail Business opportunity in Gujarat, create a wow factor that helps you seek your desire.

 


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November 3, 20160

Buying a Franchise? Sounds like a piece of cake.

Setting up a Business is not as easy as it sounds, working from scratch might sound like a hindrance. Better to start working on tailor-made Business Models that works like a Jell-O. Owning a Franchise is lucrative. Aspiring industrialist, capitalist, and entrepreneurs who want to expand their Business horizon start investing in a Franchise.

Most profitable Franchise uses a plug-n-play approach that attracts several Businessmen to sail in their ship. Before you invest, know how much loss you can bear. Make sure that what you are buying will serve you well in time. Successful Franchise creates leading Business opportunities that drive in loyal customers. An investment of Rs.2lac to Rs.30lac is required while some bigger brands expect a huge investment up to 5 Crores to set up a venture. Obtain a brief detail about the local cost barriers, types of equipment, machinery, and operation team required. Franchising is a Global trend and changing technologies is giving rise to faster growth and brighter opportunities. The best possible way to get more details and facts is to search findings and federal mandated documents.

Things to keep in mind before buying a Franchise:

  • Whether the brand franchise is based on solid Business Models?
  • Who is responsible for carrying forward the yardstick of measurements in local economies of scale, gathering information and generate research and development for the brand product?
  • Without the knowledge of competitor players, investing in such a large scale is of no use. Know your competitor, their tactics, and strategies that can be implemented in your brand product.
  • Understand potential consumers buying patterns, is the brand suitable and reliable.
  • Expert advice and guidelines are essential to avoid setbacks, mistakes and.
  • Hire a Franchise Attorney to formally channelize a lawsuit between Franchiser and Franchisees.

Moreover, to have a brand vision and understand what your brand needs that will automatically raise the level of your Franchise.

India has ample full of opportunities for funding and franchise that ensures a healthier relationship. The expansion is easier if you have the right partner and right measures to extend your Franchise. Exposure will definitely bring in a win-win situation for the brand Franchise. India continues to hold great potential customers that will help to establish a better Business even globally. A prospective franchise will certainly bring in an outstanding expansion and flexibility.

If you have an Eye for Profit than owning a Franchise outlet will lead to the best leverages. Innovate, empower and enlighten your ideas with the ultimate treasure of world class brands that will help you seek mutual growth.

If you believe in yourself, then you’re about to develop an unstoppable Business reinforcement.


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November 3, 20160

Planning to start your own Business is tricky. Finding your accurate eureka moment is not easy. Inspirational ideas come and go but, to fulfill your bon- appetite you need to conquer that oceanic trench and become the captain of your sailing ship.

Before you start your own Business firm, ask yourself these questions that will help you achieve beneficial organizational value.

 

  • Understand Your Resources. Are they enough?
  • Marketing Research. Do you have potential customers? Or Chances of better growth?
  • Seek A Professional Help. Always take expert’s opinion before entering the market segment.
  • Test Your Idea. Tried and Tested formulas bring better Business opportunity and a wider prospect.
  • Challenge Your Caliber. Businessmen are risk takers and visionary.
  • Considering Partnership On Mutual Terms? Don’t forget to structure your arrangement properly.
  • Competitor Analysis. Know the other players well.
  • Network, Network, and Network… it is the key ingredient to score better revenues, recognizes, and rewards. This is the most effective and efficient method that serves well.

An entrepreneur has to overcome all those doubts, misconceptions, setbacks and fears of loss before venturing into a stable business project. Create products for consumers that solve their problems. Stop worrying what could go wrong, start exploring the possibilities with exciting ideas that result positively. Be able to articulate your requirements and become a powerful resource. Build relationship with investors who are interested in your organization.

Think about how much you can investment you can bear?

What your venture can offer and provide that will indirectly benefit you?

A killer business idea only can transform from inputs to returns. Business is a great gamble and making an incredible idea that innovates, augments and improves profitable returns is the only solutions to kick start your own firm. Though, there are no sure sort rules that are applied to run successful organization but, taking into account the ethos and norms of Business are essentials. Apply and consider the thumb rules for a profitable venture. It helps seeking practical methods of yielding measurable results. Using the Rules of Thumb in pricing your product and economical strategies will indirectly support brand building measures.

It is a crucial decision to take this step open up your very own venture but, believe us when you are through all those hurdles and hindrances it will be definitely a win-win situation that is likely to add a value for your Businesses. Nearly, 97% of people are likely employed by remaining 3% who never gave up.

Take challenges, if you succeed you will flourish and endure, if not then this counts as an experience that will help in your future endeavors’.

Remember the road to success is always under construction. Stop thinking and start focusing on these terminologies that empower better Business opportunities.


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June 8, 20150

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