How to start a franchise business?
Franchise or in Indonesian is called a franchise is a business choice that can be tried. Many advantages if you choose this franchise business. One of them is you don’t need to think hard to do branding and marketing because franchising is already known to many people.
If you arrive at this article, you certainly have an interest in starting a franchise business. However, how? Check out our discussion below.
Determine the type of franchise you will choose
Choosing the type of franchise or franchise is quite challenging. One reason is that there are many types of franchises. How do you choose just one?
No need to worry, here are three tips for choosing a type of franchise:
Find out where your field of interest is
This is really about making the right match for your skill set. There is one thing that can provide a reference in finding the right franchise for you: Make a list of the skills you have.
For example, are you someone who is good at relationships with others? If so, write it down. Or maybe you are not a friendly person; maybe you are better behind the scenes. Are you a field person? Write it down.
One way to do this is to do a SWOT analysis on yourself. A SWOT analysis is a simple matrix that makes it easy to recognize strengths, weaknesses, opportunities, and threats.
Adjust your main skills for franchise opportunities
This is easier than it sounds. Match the list of fields that you enjoyed earlier with the franchise options available. However, where can you find franchise options?
Start your search online. The franchise portal is the best place to start searching. Look for it by using keywords like “franchise opportunities” or “franchise opportunities”
Next, choose several franchise opportunities that interest you. Look at each of these options and see if you will be able to use your your skills to start the franchise.
Watch for trends
Try to be a trend watcher. Observe consumer and business trends in Indonesia. Starting a franchise by looking at popular opportunities is a good idea. However, you must also be sure that the franchise you choose does not have the potential to fail quickly.
You need to know what products consumers want to spend their money on. Also find out what products they don’t want to pay. This is one way to research the market.
If you are leaning towards buying a franchise with a B2B business model, such as commercial cleaners or company training and coaching, do you need to find out what business leaders are discussing? What are their needs? Do they have a budget for what you think about bidding?
If you want to start a franchise by following trends, start looking for business websites or blogs that often write about current trends.