Now a day?s company engaged in computer education are generating a great amount of profit. Do you want to take advantage of their financial growth?
CITC is one of them. Now you can take Franchise of CITC. First of all the question arises in your mind is what Franchise is?
Franchise is a form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor?s trade and usually with the franchisor?s guidance, in exchange for a fee. Some of the most popular franchises in the India include CITC and McDonalds. So it is clear from this definition that by taking a Franchise a firm has many benefits such as:
Firstly, Franchising?s primary benefit is risk minimization. Starting a new business is risky. Most studies show that over 90 per cent fail within three years. The primary reason that the failure rate is so high is because the owners have to go through the learning curve of operating that specific type business. Franchising reduces that curve substantially.
Another reason to buy a franchise is that a franchise investment can be thoroughly researched before any significant expenditure is made. Existing franchisees offer a wealth of information about the business so that new franchisees can try the business on before they buy to make sure it?s a good fit for them.
Franchisers sell a defined, proven business format or method of operation, offering a product or service that has sold successfully. An independent business is based on both an untried idea and operation.
The experience of the franchiser?s management team increases the potential for success. This experience is often conveyed through formal instruction and on-the-job training.
Established franchisers offer national or regional name recognition. While this may not be true with a new franchiser, the benefit of starting with one is the potential to grow as its business and name recognition grow.
Franchising provides a uniform system of operation, so that consumers receive uniform quality, efficiently and cost-effectively. A uniform system brings with it the advantages of mass purchasing power, brand identification, and customer loyalty, capitalizing on the proven format.
A franchiser also provides management assistance, including accounting procedures, personnel and facility management. An individual with experience in these areas may not be familiar with how to apply them in a new business. The franchiser helps a franchisee overcome this lack of experience.
Franchisors help franchisees develop a business plan. Many elements of the plan are standard operating procedures established by the franchisor. The most difficult part of a new business is its start-up, since even experienced managers lack the knowledge to set up a new business.
One of the biggest benefits to franchising is marketing. The franchiser can prepare and pay for the development of professional advertising campaigns. Regional or national marketing done by the franchiser benefits all franchisees. In addition, the franchiser can provide advice about how to develop effective marketing programs for a local area through a cooperative marketing fund, to which the franchisees contribute a percentage of their gross income.
It?s possible to receive assistance in financing a new franchise through the franchiser, who often makes arrangements with a lending institution to lend money to a franchisee. The franchisee must still accept responsibility for the loan, but the franchiser?s involvement usually increases the likelihood that a loan will be approved.
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