Franchise Opportunities – Get Yourself The Right Kind Of Business Opportunity
When we think of business franchise opportunities, we think of a licensed method of doing business paying a certain fee to the “franchisor”, in lieu of getting rights to conducting the business. This is a proven method of increasing a business chain, and giving opportunities to many entrepreneurs who become the “franchisee” and in turn help in expanding the business chain, or the likes. Many international business chain owners often franchise their retail chain to franchisees in various other countries, this not only helps their business grow vertically, but also allows for lateral growth wherein their businesses are regionalized and diversified. Franchise opportunities provide small scale entrepreneurs achieve great heights, with the franchising rights to a certain business.
There are immense opportunities in the world of business franchise, and as more and more small to medium scale businesses plan their growth, they allow for their businesses to be legally franchised. There are several kinds of business franchise opportunities, including product franchising and trade name franchising along with other variants that may sell over certain rights to the franchisee and not all rights originally reserved for the company. In certain franchise opportunities, the franchisee is given the rights to conducting the original business practice of the company, but no rights to conducting their own business, that is they are not given rights to additional profits, this is called product franchising. This method is adopted by many international companies who want to make their presence felt in overseas countries, but not necessarily want to diversify.
A franchisor earns royalties from the franchisee, and this is a beneficial mode of income for the mother company. The various franchise opportunities that attract small and independent entrepreneurs may include anything from retail chains, cosmetic companies, food outlets, vending machines, training companies, etc. The business franchise opportunities for an entrepreneur and for the parent company are endless. The tried and tested method of doing a certain business, allows for the quick setting up of a new business franchise, and this saves a lot of time and training required for the franchisee to set up the same. The hugely successful food chain McDonalds, Subway, and Starbucks in USA, have excelled in the world of franchise opportunities, and many companies in developing countries are trying to expand their businesses in the same manner. The fast growing economies of India and China see a lot of indigenous companies expand their wares through business franchise opportunities, for example Venky’s chain of food stores in India.
In many countries such as India and Russia among others, business franchise opportunities are provided by the franchise associations, which help the entrepreneur in locating the best franchise opportunities. Today, the world of business franchise has also adopted social franchise opportunities, which help the poorer sections of society, take up a franchise and start a small scale business. Many countries such as Germany and the UK have helped provide franchise opportunities to the less privileged of their societies, like the CAP markets in Germany. These are great ways of helping a lot of deserving people, in the spirit of business.
Business Opportunities in Education & Training by Ninad Karka, CEO & MD, Aptech