A franchise is an authority that is given by an organization to someone, allowing them to sell its goods or services or to take part in an activity which the organization controls.
If you’re an active trader looking to try your hand at beating the market, you probably have a good idea of what you want in a brokerage: low costs, premium research, innovative strategy tools and a comprehensive trading platform. Below, we’ve selected the best online brokers in a variety of categories so you can choose one based on your personal priorities.
The franchise is like other business you have to work hard to make it best and profitable.
Some factors that make it most profitable (applies to both franchisors and franchisees)-
-your passion and hard work
-the right product for customers
-right business model
Don’t go blindly into starting a franchise.
Always DYOR (Do Your Own Research)
Remember going for a franchise is almost similar to building a partnership business. Only when the team is right, the business will become successful.
Some very important points to remember while going for a franchise -
Zero in on the business and match it with your passion.
Meet the parent company/franchisor team, you will be running your business in partnership with them
Talk or meet with existing franchisees, learn from their experiences. You will gain good insights.
Check the franchise proposal in various ways, like strategic fit + operational fit + financial fit.
See how franchising company will help you in marketing, selling, and operations.
Check both capital expenditure (initial investment) and revenue expenditure (running investment) to have better grip on finances.
At last the most important point, Think from customer’s point of view - how your business will solve the problem for him. Will he love your services and willing to pay for it.