Today, many entrepreneurs are exploring education franchise opportunities in India. Though there might be many, one should be extremely careful in terms of choosing the right franchise. The selection of franchises is going to be critical as it can directly impact professional careers. A franchise that not only has an established and expanding global presence but also makes a remarkable contribution in the lives of individuals, is something that will give you financial stability and even a sense of fulfilment for serving the new generation.
Franchising an Overview
A franchise operation is a contractual relationship between the franchisor and franchisee in which the franchisor offers or is obliged to maintain a continuing interest in the business of the franchisee in such areas as know-how and training; wherein the franchisee operates under a common trade name, format and/or procedure owned or controlled by the franchisor, and in which the franchisee has or will make a substantial capital investment in his business from his own resources.
What is Franchising?
Legal and commercial arrangement concerning the successful business of a franchisor
Use of franchisor’s trade name, format, system and/or procedure under licence
Means to raise capital and expand quickly
Assistance to franchisee: Marketing, management, advertising, store design, standards specifications
Payment by franchisee by way of royalty, licensee fee or other means
Leveraging on a recognized brand name
Enhancing business image
Ensuring consistent quality
Attaining higher productivity/better motivated staff
Access to good locations
Economies of scale
Reducing risks of failur