A solid franchise development strategy can be integral to a company’s growth and success. But if you ask a dozen different people, “What is franchise development,” you are likely to get a dozen different answers. That’s because the role of franchise development evolves with the company, and that role varies according to the company’s size, maturity, and priorities.
When it comes to brands expansion, franchise development acts as the thread that ties together all of a brand’s functions or departments, helping a business expand and improve its sales, revenues, presence across locations, product offerings, talent, customer service and brand awareness.
Crafting a well-thought-out franchise business development plan can help your organization identify its goals and generate a sustainable and scalable business model that potential investors /entrepreneurs are looking for. This is the element—that sets Franchise Khoj as one of the prominent companies in the segment. It offers a wide range of franchise consulting services under one platform.
With over two decades of leadership experience, Franchise Khoj is emerging as a leading franchise business development and marketing consulting firm that specialize in helping small and medium-sized enterprises (SMEs) create sustainable growth through successful expansion.
“We deliver a combination of value-added and high-quality solutions to our clients that immediately result in profitability and long-term sustainability; moreover, we bring professional expertise and personal commitment to all consulting projects to help you achieve your project goals,” expressed Mr Rahul S. Anantwar, Director-Strategic Initiatives at Franchise Khoj.
A Bequest of Significance
As franchising is becoming popular in India, there is an issue of credibility. When you hire a franchise consulting firm, the first question you should ask is, “Who specifically will be working on my project and what are their backgrounds?”
Because ultimately, you are hiring people, not a firm, to help you reach your goals. What difference does a firm’s client list make if the people who are actually doing the work are still wet behind the ears? The effectiveness of a franchise consulting company or a consultant comes with the number of franchisors companies that they have to offer, giving their credibility, business situation, and everything pre-screened by them.
Franchise Khoj benchmarks its franchisor on 20 parameters before bringing them on board. So, when you choose Franchise Khoj’s excellence, a franchising consultant, the company can provide you with an array of franchisors benchmarked for you to pick what matches your interests and goals. Franchise Khoj is in the business of making its clients successful.
Towards A Perpetual Growth
To become a successful brand/franchisor, you must focus on your franchise’s continuous growth and development journey. As has become evident, successful brands may all approach their status in varying ways, but there are universal truths that can be traced throughout their success.
These brands/franchisors are adaptable and can change their product offerings to suit an evolving consumer’s needs. They are tech-savvy, utilizing the latest means and methods to keep in touch with customers and their wider franchise networks.
So, for the brand/franchisor to remain relevant over a long period of time, it’s vital to stay close to the marketplace and customer needs and be willing and nimble enough to quickly pivot and possibly even reinvent your model to meet those needs.
“To be a successful brand, you need to be consistent – not trendy.”
Instilling Services with Continual Brilliance
Franchise Khoj’s franchise consulting services are primarily geared towards three markets:
- Companies seeking to franchise a business for the first time. These clients will already have developed a successful prototype and are looking to expand through franchising.
- Companies who are already franchising. These clients are looking to improve on an established franchise system, hire personnel, increase their operating efficiency, improve quality, or increase franchise sales effectiveness.
- Manufacturers currently selling through dealers or distributors. Franchise Khoj has developed a proprietary system for helping these clients increase operational control, improve brand image, and increase product sales.
Potential investors are looking for a comparatively safe business opportunity. If they wanted to do everything independently, they would start their own businesses from scratch. The system that you have to offer them is a significant selling point, so it is vital to get it right.
The bottom line is that you want aspiring entrepreneurs and investors to be interested in your business.
In the Franchise Development Stage, Franchise Khoj will assist you in creating a very appealing system for would-be franchise owners. From there, the company helps you to set your growth in motion with an expert sales and marketing strategy that finds you qualified buyers.
Also, to grow your franchise, you have to generate leads to garner interest in your concept and sign new franchisees. A vital part of your franchise system’s growth strategy is cost-effectively generating, qualifying, and sales leads. The Franchise Khoj process for generating franchise sales leads has been fine-tuned, tracked, measured closing franchise, and improved for thirty years. Its proven lead generation process will assist your brand in accomplishing your goals.
“At Franchise Khoj, we know how important- and difficult it is to find and sign quality leads. Our experience with franchising has made us experts at generating leads,” shared Mr Anantwar.
With A Plethora of Proficiency
“We have the experience and knowledge to help you find the business that fits what you want to achieve. We will walk you through what a franchise owner really means, and we will help you cut through any red tape you may face on your way,” says Mr Anantwar.
“We will tell it to you straight and not waste your time to ensure that where you end up has a solid foundation based on who you are. The most important compass in your journey is understanding your direction in your world and how you wish to interact with it,” he adds.
Most people considering purchasing a franchise have at least heard that they need to perform “due diligence” on the franchise opportunity. However, many people do not know what an appropriate due diligence investigation entails.
“We recommend seven critical components of the due diligence process – excluding many others. By addressing these and other issues, prospective franchisees can better position themselves for long-term success with their chosen franchise opportunity,” adds Mr Anantwar.
Post-acquisition of any business, as business consultants, Franchise Khoj provides business owners—with advice on strategy, problem-solving, and developing skills.
With profound knowledge of the niche, Franchise Khoj comes up with resources and lays out a plan to improve an organization’s performance.
The experts of Franchise Khoj carry out a variety of responsibilities. Its role might include designing something like a business plan, sales strategy, marketing plan, or public relations campaign. The company can help address virtually every base a small business needs to cover.
Indulging in the Words of Wisdom
Mr Anantwar shares valuable guidance for budding aspirants; he says, My most important advice is understanding how to think big and scale a business, and the importance of believing in your ability to create an impact.”
“As entrepreneurs, we are wired to take risks, we are eternal optimists, and we need to learn how to channelize this in the right direction,” he adds.
Adding to these pearls, he also says; Start small, nail it, and then make it big.
- Be humble, be focused and have grit
- Recruit only the best
- Look for details and keep the big picture in sight
- Set processes early on and challenge the status quo
- Gun for a great product/service; everything else will follow
Embracing the Future Prospects
Sharing his opinions on embracing the advancements in the franchising sector eventually, Mr Anantwar says, “In my two decades of being in franchising, I have seen massive changes; the most significant has been in the last two years. This is because franchises are essentially consumer businesses.
As the consumer is fast evolving, so is the franchise business in order to keep pace. For example, the food industry, which is 35 per cent of the global franchise contribution, has significantly changed to accommodate delivery concepts. This has resulted in the rise of the cloud kitchen .With the food delivery business turning into a $15bn market, cloud kitchens have become the new norm in food service. So, four or more restaurants could be co-located with each other, individually occupying 300 square feet.
India is also seeing these changes along with the modernization and branding of services. Technology-based franchises are seeing significant growth.
India stands at about 6,000 regional active franchise systems, of which 400 are nationally active (upward of 50 to 500 franchises), while another 1,500 have multiple regional presence but are not as active pan India. Rest franchisors(less than 5 franchisee) are just expanding city wise or district wise. So, the expansion potential for brands with profitable and sustainable franchise models and professional approach is enormous.
“The world is moving away from the local mom-and-pop business to branded ones”, concludes Mr Anantwar.
