This Is Why Evaluating The Market And Franchisees Is An Essential Element
Every day we see a lot of global brands are rushing into the Indian market and build their industry on this very promising soil. However we are also witnessing the flooding energy of startups and entrepreneurs tussling in the market for space and brand growth.
When most of the brands are taking their baby steps, some expert players are looking for potential franchisees and spread their business like wild fire. And there are people who are racing to grab the franchising opportunities and be a part of the brand’s growth journey.
Evaluate Market and Franchisees
Evaluating the market is important as much as, evaluating the potential franchisee.
CMA B. Mallikarjuna Gupta, Associate Vice President GST, Alankit GSP, says, “The first and foremost what I tell an investor before getting into franchise is to understand the product in totality. There can be certain products which can be sold in India and some which can’t be sold in India. These are based on regional and sentiments also. So we really need to evaluate whether it can be sold in Indian market or not.”
A franchisor can get his choice of franchisee without compromising with any quality through a franchisee recruitment process.
The process will involve a lot of hard work but it will be worth every penny and every second spent on it. Spread the word, which you are looking for a franchisee in particular area along with all franchising facts through advertisements.
Those who think they fit the slot will come and you can evaluate their quality of running the franchisee through various tests, if they match with your requirements.
Only after being grilled and filtered through all these stages, the potential few of many will make it to the finals, who can be trained and guided accordingly to run the franchisee.
Gupta says,“Venturing into new territory with an unknown product, a franchisee cannot have a marketing strategy on him/herself. They need to have the support of the franchisor.”