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Do you want to try to rotate the money you currently have to make a profit? If yes, then business will be the answer. Various types of businesses that exist today can be interesting options, one of which is a franchise business.
The franchise business itself was booming a few years ago, and this business model has managed to maintain its popularity until now. More and more brands are allowing you to be a part of it by opening a franchise.
Franchising itself can be understood as a business in which the owner gives permission to the licensee to operate the business in a particular location. To get the license, you must pay a certain amount of royalties to the business owner to rent the produk brand name.
To start your own franchise business is actually not a difficult thing, but you must still be careful and thorough. Some ways to start this business are as follows.
Research is always an important thing to do before starting a business, including this franchise business. Some things that must be researched are the products and services to be sold, license fees, prospects, competitors, and market potential in the desired location.
After getting complete data about the product, license price, prospects, competitors, and existing market potential, you can start compiling a business plan that will be executed. Armed with these complete data, a business plan can be prepared properly and produce a clear framework for each part of the business and strategy later.
The franchisor has a contract that will later be given to you when making a purchase. Do not rush to give signatures before carefully reading the content of the contract. So in the future you don't feel anything is wrong, when in fact all the conditions are in the contract given.
Make a license purchase transaction if it is really understood, and you officially have permission to run this franchise business that you want.
Even though you officially have the license, you still have to go through several stages. Next you will form a business entity, because different business entities are needed based on the overall structure.
The next step you can start looking for a strategic location that will be where you do business. This business location must meet the criteria you need to run a business, ranging from market potential support, technical support, and also licensing.
Everything is ready and now it's time for you to hire the necessary employees. Don't carelessly look for employees, so that the business you run is really optimal and doesn't encounter problems in the future.
The last stage is the opening of a franchise business that you have prepared. Businesses can get up and running with all the systems and SOPs provided, and welcome as an entrepreneur!
Each type of business has its own advantages and challenges. In the franchise model, at least there are quite a lot of advantages that you can get.
In managing this franchise business that you have, the tips applied may not be much different from other types of businesses.
So after reading the explanation of how to get started, benefits, and tips on optimizing it, are you even more interested? Or are you still feeling confused about this business concept? If you feel still confused, you can easily consult a financial expert you trust, or directly find information about the franchise you want.
But if you are already steady in starting a franchise business, you can quickly execute all the steps. Complete this business with the right insurance, as offered by AXA Insurance Indonesia through SmartBusiness Insurance with business interruption, personal accident and long-term hospitalization benefits*.Many benefits can be obtained if unwanted things happen, so that the losses you experience can be suppressed. Contact our customer service immediately, and get complete information about this insurance!
* Terms and Conditions according to SmartBusiness Insurance policy
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