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15 Great Franchise Choices and Ways to Build a Franchise Business

Great-Franchise-Choices-and-Ways-to-Build-a-Franchise-Business

Franchise is a business model that is very popular today. Many companies that are brand owners use this franchise business model to expand their business and introduce their products to all corners of the world. Definition of Franchise or Franchise according to Government Regulation Number 42 Year 2007 is a special right owned by an individual or business entity to a business system with business characteristics in order to market goods and / or services that have been proven successful and can be utilized and / or used by parties others are based on franchise agreements. 

Franchise business fields vary, some are engaged in Education, Retail, Telematics and Communication Technology and the most frequently found in our daily lives are Franchises engaged in Food such as KFC, Pizza Hut, Mc Donald, and many more. Whether your franchise business will profit or lose, what is important is that you have the courage to try this business because this business has great opportunities. 

    Franchise business is a lucrative business if we choose the right franchise.

    1. Mcdonald’s

    This fast food business we often meet around us. Even for each region has its own branches. Every mall in big cities also has Mcdonald’s.

    Mcdonald’s or commonly abbreviated as McD started his business and franchise in 1955 with an estimated current branch of around 37,855 franchises. Mcdonald’s based in America. To guarantee quality and quality, McD does not carelessly accept individuals as his franchisees. McD operates, manages, and manages its own service system. There are certain processes that must be carried out by a prospective franchisee to get permission or license from McD. McD does not only offer 1 type of franchise concept, but there are several choices. What are the franchise options? Let's look at the following.

    Traditional restaurant, unique and more popular concept. The target is buildings, shop houses, or shops that stand alone. It could also be a food court. This type of franchise concept offers all food concepts with high standards and there are no definite rules so that they can vary according to the surrounding market trends.

    Satellite location, this concept is more directed to places that have a more uniform target market, for example airports, universities, retail stores, hospitals, and places that do have similarities (individuals who are still in groups). Like the airport which is a busy place, it requires fast food with a warm concept with a minimalist scale. The concept of food offered is also more general and rarely follows trends.

    The location of STO (Small Town Oil) and STR (Small Town Retail), the same as previous concepts, this type also has clear targets and segmentation. STO is open to places such as gas stations, or temporary resting places between the cities. While STR is more directed to places like the nearest shopping center which is surrounded by residential neighborhoods or people's homes.
    BFL, is the last concept that carries a franchise business facility. McD provides rent for business licenses provided to franchisees.

    2. KFC

    Still with the same business concept with McD, the fast food franchise. The business began in 1939, and is based in Louisville, Kentucky. Unlike McD, which from the beginning had targeted the franchise business, KFC only started its franchise business in 1952, or almost 12 years after the business was founded.

    KFC has two concepts of running its food business, which is eating on the spot or taking it home. If McD offers fast food in a broad context, such as burgers, fried chicken, and other fast food menus, KFC takes a more specific concept of flour fried chicken or better known as fried chicken according to its brand.

    KFC is under the auspices of KFC Corporation owned by YUM! Brands, Inc. offers KFC licenses to be developed by franchisees. The terms of the agreement will allow the franchisee to use trademarks, names, service marks, logos and commercial symbols periodically in accordance with the agreement with the franchisor. In addition, the franchisee can also get business formats, methods, designs, to certain specifications in accordance with the agreement details.

    3. 7-Eleven

    This business was founded in 1927 and is based in Irving Texas. They only started their franchise business in 1964 and already have around 66,195 branches. The concept is like an ordinary minimarket that provides products in accordance with the trends of the needs of buyers around it.

    Points that are different from 7-Eleven from minimarkets in general are, they provide hangouts such as cafes that are equipped with super mini dining places and wifi. So that young people to ordinary office workers use this place to just chat, meet up, or have a small discussion. The snacks they offer are also foods that are usually consumed while chatting, such as snacks in the form of chips, donuts, and soft drinks and ice cream plus coffee and instant noodles ready to brew.

    4. Domino’s

    Still from America, Domino’s comes with a fast food concept that is more specific on the pizza menu. Domino’s was founded in 1963 to then conceptualise its franchise in 1967. Domino's center is in Ann Arbor, Michigan. The branches or units owned have reached 15,900 units to date. Almost similar to McD, Domino's franchisor brings the concept of eating on the spot or take it home. Franchise format is also varied. There are 4 franchise formats that Domino offers to franchisees.

    Domino's traditional, this concept reminds us of McD which also carries the traditional concept. Unlike the McD concept, here Domino's targets public shopping centers and other retail locations that provide vehicle parking for delivery services. So, this concept further emphasizes the concept of take-away food and delivery.
    Domino's non-traditional, is the concept of selling Domino’s pizza in non-traditional places such as office buildings, airports, highways, inter-city lane resting places, to entertainment centers such as zoos.

    Domino's transition, this concept refers more to the sale of dominoes where the food offered must match the location of the franchise. The purpose of this concept is to attract potential customers so that the services available are usually only delivery or food to take home immediately. When the number of customers has entered a certain target. Only later will it be converted into traditional Dominoes.

    One unique concept that may not have been owned by the franchise before, Domino also offers a license for the sale of food products in crowded places by paying only the license. For example in stadiums, theaters, or other entertainment venues.

    5. Baskin Robbins

    For you ice cream fans must have often seen the brand or brand on this one. Baskin Robbins franchises are often found in large malls or shopping centers. This product was founded in 1946 and only became a franchise 4 years later in 1950. Based in Canton, Massachusetts, Baskin Robbins already has around 8,040 units or branches worldwide.

    6. InterContinental Hotels

    For those who like to travel abroad, would be very familiar with this one hotel. InterContinental is very well known for its services which are considered to be top class or executive. This franchise was founded in 1946 and took 10 years to then formalize its business in the form of a franchise industry. The InterContinental Hotel Center is in Atlanta, Georgia but originally came from England.

    To date there are around 205 InterContinental Hotels with 5,605 brand groups. Unlike previous franchises that were mostly engaged in the food industry, Intercontinental offers hospitality services. The franchisor InterContinental offers a franchise with certain conditions. They provide development and workmanship for the franchisee.

    7. Carrefour

    Carrefour is a franchise engaged in retail for large supermarkets. We have seen many branches in malls in big cities. Founded in 1958, Carrefour is a French business. In its concept, Carrefour is moving to become the only distribution business leader in the world.

    Many benefits can be obtained by the franchisee when working with this franchisor. Not only customer segmentation, high quality value of the products offered but also the ability and expertise in the field of food distribution and other retail products.

    8. Ace Hardware

    Besides having its own warehouse and shop, Ace Hardware has also been present in many malls and shopping centers. Ace Hardware was founded in 1928 and has been targeted to carry the concept of this franchise. The Ace Hardware business has a head office in Oak Brook, Illinois with 5,070 units growing to date. Engaged in retail distribution, Ace Hardware departs from the sale of quality hardware.

    When the franchise application is received by the Ace Hardware franchisor, the franchisee has the opportunity to purchase merchandise and services from the franchisor. Not only that, the franchisee can also open a rental service for Ace goods by taking the name 'Ace Rental Place'

    9. Kumon

    Kumon was founded in 1958 and immediately brought the concept of the franchise in the same year. This franchise originated in Japan, but its office is based in Ridgefield Park, New Jersey, United States. His business is engaged in education that teaches mathematics and reading using the Kumon concept. The children will attend a learning process of around 20-30 minutes for each subject for 2 times a week.

    10. Krispy Kreme

    For fans of true donuts, certainly no stranger to Krispy Kreme. The franchise business which was founded in 1937 is engaged in the food industry. The franchise format that is carried also varies. There are 3 concepts as follows.

    Factory Store, a facility that produces donuts which can then be circulated to the Tunnel Oven Shop
    Tunnel Oven Shop, if the factory is a donut producer, then here is a place to beautify and sweeten the donuts produced so that it becomes an attractive and marketable product
    Fresh Shop, this is a concept that you often encounter in shopping centers and office buildings.

    11. A&W Restaurant

    Engaged in the fast food business, A&W is a franchise that offers flour fried chicken, better known as fried chicken. A&W was founded in 1919 and only became a franchise in 1925. A&W restaurant has a head office in Lexington Kentucky and currently has 1000 units. As a direct subsidiary of A Great American Brand, LLC, A&W restaurant offers a license to operate the business on behalf of A&W.

    The food offered is almost similar to McD but with different recipes and concepts. There is root beer, chicken, hot dogs, burgers, and various other food menus.

    12. Auntie Anne

    Almost similar to Krispy Kreme which is engaged in food such as bread, Auntie Anne takes a more varied concept by not only providing donuts but also various other types of bread. This business was founded in 1990 and started franchising in 1991.

    Based in Atlanta, Georgia, Auntie Anne already has more than 1,900 units. Franchisees cannot propose locations to open a franchise in the location they want before obtaining approval from the franchisor. Auntie Anne can provide licenses with locations that they have agreed to. Auntie Anne not only provides its own shop but also partners with supermarkets or other potential places for the Concession Shop.

    13. Circle K

    Circle K is a franchise in the form of a minimarket. Founded in 1951 and only opened a franchise service in 1999, Circle K already has more than 8,000 units. Its headquarters are in Tempe, Arizona.

    14. Wingstop

    Wingstop was founded in 1994 and opened its franchise services in 1997. The business is headquartered in Dallas, Texas and already has more than 1,000 units. Franchisees can manage businesses under the name Wingstop and business systems that serve chicken wings and snacks with a variety of different flavors and concepts.

    15. Papa John’s

    Papa John's was founded in 1984 and started his franchise business a year later. Currently Papa John’s already has 5,250 units. Its headquarters are in Louisville, Kentucky. Papa John’s is an industry engaged in food with the main menu being pizza. Most branches provide delivery and carry out base services. Only a few provide on-site dining services.

    Ways-to-Build-a-Franchise-Business

    Ways to Build a Franchise Business

    Although a franchise business offers a relatively high level of success, but this does not rule out the possibility of your business failing. For this reason, smart strategic steps are needed in reading the market and your target buyers as early as possible. Now, to achieve that, consider the following tips for a successful franchise business.

    1. Take Opportunities

    If your country is a developing country or in your country there are still a few people who take this business then the opportunity for you to take this opportunity. This is your chance to make lots of money. See the latest trends that are happening in the world of franchising, then look for gaps that can be used as a source of income by making a comprehensive analysis of your business.

    If necessary, collect as much data about the same franchise business as you want to open. For example, if you want to open a KFC franchise, then you should also consider other fast food restaurant franchise businesses such as McDonald's, A&W, or Flip Burger. This consideration provides the results of a deeper analysis and a compelling reason for you to open a strong fast food restaurant franchise business.

    2. Adjust to Expertise

    Actually you are free to choose the type of business that will be run. However, it would be better if the business is your expertise or at least something that you like. For example you have good cooking skills, you can choose a culinary business. If you are a coffee lover, choose a coffee drink business instead of food.

    Doing something you like or are good at will increase the potential for success. In addition, you will be more enthusiastic and not easily give up even if you face obstacles Do you know halfway. This can also be a lesson for you to not be easily disappointed or give up if there are problems that are difficult to solve.

    3. Choose the Right Franchise

    In the market there are a lot of franchise businesses that you can choose from. The price of the package also varies, ranging from one million to tens of millions. Adjust the budget you have.

    Choose a franchise that has pocketed a business license to avoid legal problems in the future. If the product offered is food or drink, check the halal and permission from the Health Department.

    It also makes the credibility of your franchise business more trustworthy and has more value when people ask about your product or compare your business with other similar businesses.

    4. Choose a Strategic Location

    Strategic location is one of the success of the franchise business. The reason is, this is closely related to the income you will get later. In order to get maximum results, choose a place of business that is in the middle of the crowd.

    Try to compare, cold drink business located in shopping centers and residential areas. Although selling one product and the same product, but the turnover is different. Selling in shopping areas is more desirable than in residential areas. Regardless of how well or sell your product in a residential area, the value will not be as high as other products that are not too in demand in a shopping center.

    Choosing a strategic location not only makes it easy for customers to find your place of business, but also increases profit potential. This method is also effective in attracting more consumers and expanding the scope of your business. Of course, isn't every business actor's dream is to get as many customers as possible?

    5. Take Responsibility

    Although a franchise business can be run by someone else, it would be better if you remain directly involved. Take full responsibility, at least until your business generates a stable turnover. You don't need to be on location all the time, just do regular visits every day.

    6. Give Good Service

    Quality products are meaningless if the service to consumers is bad. Remember, the buyer is king. Customer satisfaction is number one. Therefore you are obliged to provide the best service to consumers.

    Greet customers with a smile. Be a friendly and polite person. Although it seems trivial, but these actions make consumers feel more valued. Do not rule out they will become your loyal customers.

    7. Do Marketing

    Have you ever wondered about the secrets of being a successful businessman? The answer is marketing. A business cannot develop without good marketing. As good or as delicious as any product you offer, the results will not be maximized without clever and effective marketing tricks.

    One way to promote your business is to give customers a surprise discount. For example, for the purchase of 5 items, the buyer will get a $ 2 discount. Can also buy 3 get 1 free promo or lottery. Besides aiming to increase turnover, this method will make customers happy.

    Profitable-franchise-options

    Conclusion

    By knowing 15 profitable franchise options at successesource.com and following a number of successful franchise business tips above, you will have no trouble running a franchise business. It turns out that franchising is not as difficult as one might imagine. After you read these tips you should also read the Secrets of Small Business Tips to Success, to be more sure to start a business that you will run. Hopefully useful and come on, start your business now ! 

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