Maintain your old Siemens Hipath system

Before Getting A Franchise

Buying into a franchise is a great way to be part of a recognized brand with the benefit of lower advertising outlay. With many franchises to choose, here are some tips before you get involved with franchise:

Get The Support of Your Family:

The success of your franchise is also the acceptance of your immediate family in supporting your effort. It is this simple. Take for instance, if you buy a franchise which is part of a book-store chain and your family does not even visit it once. Will you have the determination to see it through? If you need to take a short vacation, will your family member help to run the franchise in your place?

Know Your Strengths & Expertise:

A franchise should not just be a means for you to start your first business. It is preferable that you have a recognized skill or interest in the franchise before parting with the franchise initial capital. Maybe take a personality test to determine if you have the tenacity to follow through with the franchise.

Unique Proposition Of The Franchise:

The franchise should be protected by a patent or intellectual property law. This will create a significant barriers to entry.

Market Research:

A franchise can be a huge success in a particular geographical region but has less acceptance in another country. Thus it is crucial that you inspect the relevance of the market research that has been conducted by the franchise company especially in the area of when the market research was conducted and the demographics of the sample set.

Franchise Competition:

Do not get a franchise that does not seem to have a recognized competitor or an industry that can be classified ? unless you are interested in being a master franchiser or have a first-mover advantage. The market may be slow to accept your franchise and you may find it hard to re-coup your initial investment within the agreed contractual period.

Legal Assistance:

It definitely pays to get a legal expert to read the franchise contract fine-print. You do not want to be accused of violating some of the franchise terms of agreement and pay an unnecessary penalty.

Get New Contacts:

Do not just depend on the contact database that may be provided by the franchise owner. You should also try to generate new contacts as the franchise contact database may also be used by new franchisees.

Unique Ways Of Promotion:

Buying a franchise should not mean that you lose your competitiveness and innovativeness. You should find new ways of promoting your franchise through flyers, website and even various media. But remember to inform the franchise owner of your effort and get approval.

Joint Promotions:

You should also team-up with the franchise owner to joint promote in trade fairs and trade directories. You can also volunteer to start a dedicated franchise newsletter and be a regular article contributor. Your ideas may help improve the franchise.

About The Author

Colin Ong TS is the Managing Director of MR=MC Consulting (http://www.mrmc.com.sg) and Founder of the 12n Online Networking Community ( http://www.mrmc.com.sg/12n)

colin@mrmc.com.sg

In The News:

IS 'decimated' and down to last mile of territory - Pence
Sat, 16 Feb 2019 10:50:00 +0000
The Islamic State caliphate has been "decimated" and the last mile of IS-controlled territory in Syria is being captured by American-backed forces, says US vice president Mike Pence.

'I don't trust anyone': The British women who married IS jihadis
Fri, 15 Feb 2019 17:28:00 +0000
Reema Iqbal is talking to us from behind the plastic sheeting which marks the tented area which is now her home in Roj camp in northeast Syria.

Militants using civilians as shields delay capture of final IS enclave
Fri, 15 Feb 2019 16:14:00 +0000
Hundreds of civilians still living in Islamic State's final enclave have emerged and are being used as human shields - forcing US-backed troops to delay capturing the village.

Mourners visit Emiliano Sala's coffin ahead of cremation
Sat, 16 Feb 2019 15:23:00 +0000
Mourners have been paying their final respects to Emiliano Sala at a memorial service in Santa Fe.

Nigeria postpones presidential election at last minute
Sat, 16 Feb 2019 03:16:00 +0000
Nigeria's presidential election has been postponed just hours before polls were due to open.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Business Planning Overview

The successful entrepreneur is generally more inclined, once a business... Read More

Compensating for Your Entrepreneurial Style-or Lack of Style

I recently took an entrepreneurial quiz which evaluated my answers... Read More

Be Where the Pucks Going To Be

The "Great One" said it bestHockey legend Wayne Gretzky, when... Read More

The Reluctant Entrepreneur

It seems odd to think of a person opening a... Read More

Cross Polination of Innovations in the Cleaning Industry

According to the latest edition of Pool and Spa news;... Read More

Ten Traits of Successful Entrepreneurs

Successful entrepreneurs have many traits in common. Here are ten... Read More

The 9 Key Distinctions of Successful Solo-Entrepreneurs!

SUCCESSFUL Solo-Entrepreneurs approach life and business from a perspective that... Read More

Rx for Falling Corporate Profits

Once again the squeeze is on as renewed inflation worries... Read More

Entrepreneurship Story; Over Regulation in Franchising Final Chapter

Sally and Jim have launched their automotive franchise business and... Read More

Achievements Outweigh Education and Experience

Q: When it comes to succeeding in business, which do... Read More

Corporate Espionage in Franchising

Franchising Trade Journals do not do well, because today with... Read More

Is Now the Right Time to Become An Entrepreneur?

A number of economic changes are magnifying the role of... Read More

Applying The Daffodil Theory into Business Practice

At times all of us need a bit of inspiration... Read More

Surviving the Three Pitfalls of Business Ownership

The morning sun sheds its brilliance and warmth... Read More

3 Essential Elements of Operating a Successful Business

Have you ever imagined what it would be like to... Read More

Franchises - A Proven Business System

Franchises offer the first time business owner a proven and... Read More

Entrepreneurial Traits that Drive Sales

Frequently overlooked and hidden deep within our marketing tool box... Read More

Bring That Difference To Your Business!

Romans had a phrase for this- First among Equals.Online marketing... Read More

Could a Non-Profit Structure Be Right for Your Business?

If you have a business idea, or an idea for... Read More

Methods of Generating New Ideas for Entrepreneurs

Summary: Even with a wide variety of sources available, coming... Read More

Beware the Opposition!

Any time you make changes in your life you are... Read More

The Lonely Hat: A Marketing Parable

Jones was a typical entrepreneur who worked long hours and... Read More

Your Company Needs A Mission Statement; Make It Count

Does anyone remember that book "Built to Last" done y... Read More

Think - Dont React

How you think, your relationship with yourself is what decides... Read More

How to Become a Successful Entrepreneur on the Web

Becoming a successful entrepreneur in the online world is no... Read More