Tips for the New Franchisee.
Gaurav Marya’s first book, which is currently available in its fifth re-print edition, The Science of Reproducing Success, talks about how franchising has emerged in India as a growth industry with great potential. It further tells us how franchising provides the last-mile connect in the world’s largest consumption market. Written below are parts taken out from the best-seller book’s preface and inside chapters.
Some words of advice for the new franchisee.
Remain Focused: When you are new to the franchising world and are setting about your first franchise, you might have dreams of expanding it into the next billion dollar business venture. Dreaming is good, but it is also good to remain focused on the task at hand – which is of establishing your first venture and making a success of it. The rest of your dreams will find their place once the one on hand is taken care of.
Be True to Your Word: Credibility is the most important thing that you need to build and command when you are in the franchise business. Be it your word t your customers or to your franchisor, you need to keep your promises and deliver all that you have committed.
Be a Part of One or Several Networks: This is an era of networking. The world is not the limit and the Internet and the social media networks have made access to anyone and everything simple and easy. However, being a part of a network and meeting people in person goes a long way in helping you maintain and expand your business.
Have a Sound Online Presence: It is the age of instant news and smart phones. The online market sells and the social media has a tremendous influence on trends. It would do any entrepreneur, new or established, a big push to have a good online presence through their own company websites and also through the various sites such as the Facebook, Peer Power, YouTube, LinkedIn, Twitter and so on. Having a blog or two and a fan page too are some of the things that you might want to look at for business and network building.
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