At Hi-Juice Business Mentors, we are passionate about working with business owners and start-ups with a long-term aspiration for GROWTH.
Franchising / Licensing embodies our core values of building team and having lots of fun doing it.
Franchising your business can be a fun, strategic and an accelerated route to building a national network and reducing the required management infrastructure, time and capital investment of a company owned expansion.
The franchise model is used in more businesses than you think and can offer both the franchisor and the franchisee great growth potential and longevity in business.
Franchising has its strengths and weaknesses as it means that control is shared throughout the fast growing network.
Definition of Franchising?
The franchising of a business can have a number of meanings. But in this context we are talking about what is technically known as ‘Business Format Franchising’. This simply means ‘the leasing of a business system by the owners of a proven business (the franchisor) to the lessee (the franchisee).
Put simply, the franchisee pays the franchisor for the right to set up in business under an established name, working to a business blueprint which already has a proven track record. The franchisor’s Company- provides advice and support on all aspects of running the business.
A Business Format Franchises has the following key elements:
– A renewable licence under which the franchisee can operate
– A blueprint or proven trading method which the franchisee must follow
– A defined geographical area in which the franchisee can trade
– Payments from franchisee to franchisors
– Obligations and responsibilities of the franchisor to franchisee
Franchising itself is a growing business sector world-wide, providing franchisees with survival and growth-rates, which significantly exceed conventional business start-ups. The success comes from cloning a proven business, together with giving ongoing support throughout the entire licence period.
The advantages for the franchisee are fairly obvious. They will be building on a tried and tested business format. They will receive comprehensive training before starting the business and ongoing support and advice provided by people who really know the sector. They can tap in collective advertising, development and marketing power as well as the benefits of an immediate positive corporate image.
Our franchising expertise spans joint 42 years of professional hands on experience. Kam Pindoria and Ambika Pindoria started their business journey in 1995 as single operators. Becoming multiple franchise operators with 6 units, master franchisors supporting 87 franchisees gave them huge network capacity in a short space of time. They wish to share their hands on experience to benefit current business owners.
As experienced business mentors they understand how to deal with franchiing at varying levels of Growth. From start-up businesses who look for franchise accelerated expansion, network growth through sales and retention aspect of harmonising relationships between franchisors and franchisees.
We can help you decide whether franchising is right for you and your business, help you prepare for franchising and introduce a sound business model to build you a successful franchise network. A franchise expansion is best executed when a business is established, profitable and looking for regional, national or international expansion.
Hi- Juice Business Mentors aim to give all our clients, whatever stage they are at in business, the knowledge and insight into a viable growth option such as franchising or licensing that could take their business to the next level.
We’d love to offer you a Complimentary Business Assessment, it’s a 60 minute meeting designed to help you understand where you are in the business lifecycle and how we can help with Business Growth, Funding Your Next Stage of Success or Selling and Moving On.