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Being an entrepreneur in a time of economic recovery or financial crisis is very complicated. Creating a company from scratch or discovering a new business takes time and effort on understanding the market. Putting these two scenarios together, the risk of failure greatly increases, and many entrepreneurs cannot wait. In this situation, achieving success in a safer way can be to invest in a franchise.
Franchise, franchising or franchise is a strategy used in administration that has, as its purpose, a license sale system in which the franchisor (the brand owner) assigns, to the franchisee (the one authorized to exploit the brand), the right to use its brand, patent, infrastructure, know-how and right of exclusive or semi-exclusive distribution of products or services. The franchisee, in turn, invests and works in the franchise and pays part of the revenue to the franchisor in the form of royalties. Eventually, the franchisor also grants the franchisee the right to use technology for the implementation and administration of the business or systems developed or held by the franchisor, through direct or indirect remuneration, without being characterized as a link employment. (Source: Wikipedia)
But take the decision to bet on a franchise requires decision making and strategy, so we will discuss some important points below.
Read too: 3 important information to open your business
1. Consumer-recognized brands
The first big point when looking at a franchise is to look at the brand, how much it already has a history of quality and success. One well-thought-out choice brings a fundamental initial competitiveness for the development of the new business. In a simple and easy way, your target audience will quickly identify which service or product is being offered.
2. History and experience
Betting on a franchise, as opposed to create your company, it is an advantage to have a business that is already tested and up and running. This experience skips many learning phases. In addition, the franchisee usually receives a lot of support and knowledge to choose, training and development of employees, consulting on how to make and implement strategies focused on results.
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3. Have a business plan
Designing a business plan requires knowledge and market experience, not to mention that it is often necessary to evaluate practices, adapt planning and understand the learning curve. Receiving a vision of planning, implementation and monitoring for your business will collaborate in the construction and development of the company, but remember to validate all hypotheses with the market in which you will operate.
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4. controlled finances
Franchising requires an initial investment, but it makes it easy to quickly identify which expenses are priorities and important for the development of the company. Another important point is that, in a franchise, there is a standardization of service or product. For this reason, it is practical to identify pricing, spending, and profit.
5. Structured Marketing
When a new business starts, there are already several challenges, so not having to think about visual standards, promotion strategies or social media positioning is a great advantage. Usually the franchise brings ready-made promotional materials, as well as the positioning of the brand before consumers or clients. It's like having people worrying about selling to you before everything is ready to start.
By Nova Educate
Nova Educa is an educational consultancy focused on developing projects in schools involving Apple Technology, with the implementation of iPads and teacher training. In addition, it also conducts the Nova Educa Debate podcast, with interviews about the educational market and the BNCC on entrepreneurship and innovation content. We will have several consultants collaborating with this column, which will be led by the innovation director, Carlos Coelho, education enthusiast with multinational experience at Singularity University (California) as a teacher and manager school; and we will have Priscila Coelho, director of operations, specialist in educational technology training, creativity and innovation.