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Starting a Franchise: Tips and Traps You Need to Know

Group Description:

Franchising is an agreement between two parties where one party, the “franchisee”, is authorized to market the product or services, trademark, and business and distribution model of the other party, the “franchisor”. As a young entrepreneur, buying a franchise can be a quick way to set up your own business without starting from scratch. You can explore the market, understand systems, learn all aspects of running an established business and at the same time explore your entrepreneurship potential. But how do you go about choosing the right franchisee to buy? Is it difficult to acquire the license for a big brand? How do you ensure consistency with the parent brand? Can the entrepreneur who buys a franchise be independent in the shaping of the business model to allow for local tailoring and context? How do you manage royalties? What are the legal pitfalls of franchising? 

 

To answer all these questions and more, we feature this week, Rajiv Singh, President and CEO, Team India Managers Limited, a company that catalyses franchising opportunities for entrepreneurs. 

 

How to post questions and start a discussion:

- Click Start a Discussion, located on the left column of the group page.

- Type your question, and click Post.

- The expert will then reply to your question.

 

Discussion opens: Tuesday, April 26, 2011 | 10:00 am 

Discussion closes: Friday, April 29, 2011 | 6:00 pm

 

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Gaurav sharma's picture
Seed funding for starting up of a new Business.............
Posted by Gaurav Sharma 2 years 7 weeks

 

Dear sirs,

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nagaraju n's picture
Starting a franchise ..
Posted by Nagaraju N 2 years 8 weeks

I'm a beginner and i want to know more about starting a franchise and how that works ..

can anyone pls share some useful links or books to learn more about franchise business. 

 

~thanks/raju

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Aashish A's picture
A new venture!!
Posted by Aashish A 2 years 10 weeks

Hello,

I am a mechanical engineer passed out in 2010. was working with a company for the past 1 year that is based in the professional kitchen field. i have quit the job to be an entrepreneur. I believe that i have the potential and temperament to be a successful entrepreneur. now i am starting up shortly in the same field where i was workin for the past 1 yr. i would like to consider other lines in mechanical field suitable to start a new venture. new ideas/ innovative products if any.

thnks,

Aashish

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Gaurav sharma's picture
Setting up of a business from the scratch??
Posted by Gaurav Sharma 2 years 11 weeks

Dear sirs,

I am a total novice and want to start a new prferable fRANCHISE bUSINESS. However I do not have any funding as yet for the starting up of the business. Please guide me in Thorough details as to how may I go about starting up and setting up of this totally new business for which I have yet to procure Complete funding????? Educationally I am an MBA which I did about thirteen years back.

Gaurav

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Nitesh Chandra's picture
Is expensive office space a major constraint for bootstrapping startups?
Posted by Nitesh Chandra 2 years 18 weeks

Let's face it, office space doesn't come cheap and there is only so much we can do from home. To build a team, to have the interest of potential recruits/customers, a decent office is essential. It also adds greatly to one's productivity for sure.

So, how are the startups meeting this challenge? Any innovative ideas/offers?

One offer that I know of and am currently availing is the 3-month complimentary Regus Businessworld Gold Membership by EFactor. http://www.efactor.com/toolbox/regus

If you are aware of any similar offers, do share.

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