Business Consortium

FRANCHISING

Franchising gives unique opportunity to Franchisors to expand their business at multiple locations along with Franchisees on various terms and conditions. Prad One with their understanding of these key factors, will surely help in structuring and achieving the goals set by the Franchisors. Additionally Prad One creates opportunities for innovation assisting Franchisees, especially those that have the potential of growth by using the Franchisee format to gain the best advantage in a competitive industry.


There are six Key Factors that insure the success of the Franchise: Concept, Locations, Investment, Branding, Food and most importantly Support

Key factors

1. content

The original location is where the conceptualization occurs, the Owner/Franchisor creating the intricacies and a proven formula that later the Franchisee will continue to implement. With additional locations being opened, the Brand expands and Franchisees take on less risk because of the established franchise formula.


2. locations

Franchise growth is achieved through the advantage of have multiple of locations. Growth of the Brand is an important part of managing the success of a franchise and one of the key elements is to carefully choose a location that will bring in profits.

A big example of this is the McDonald’s brand having more than 31,000 locations around the world. This means that customers are often very familiar and comfortable with a brand.

3. investment

In order to use the Brand, the Franchisee is required to pay a fee, the amount depending on whether the Brand is a newer, growing franchise or has long been established that may require an investor to commit to multiple locations. The Franchisee might need to sign agreements requiring future renovations or updates and would be responsible for the costs of maintaining the restaurant.

4. branding

Due to the Franchiser developing a franchise formula beforehand, the Franchisor typically would be responsible for major advertising, marketing, and market research, which means other than local marketing, the Franchisee has very little control over changes regarding the Brand.


5. food

The corporate owner decides the menu and recipes and often must approve food vendors to ensure that a dish served at one location tastes the same as it does at all of the other locations. In some cases the franchisor requires the use of proprietary products. The corporate owner may also undertake market research to test new recipes.

At every location the Brand foods are required to meet the same excellence as decided by the Franchiser unless a Franchisee has been given explicit permission by the Franchiser/Owner to alter or add to the existing menu.

support

Prad One is the consultancy that bridges support provided to the Franchiser and Franchisee

In a franchise setting, the Franchiser is able to offer the Franchisee a support system, which would not have been otherwise given when starting a restaurant from scratch. One of the many benefits include training programs, community engagement, technology and equipment support and in-house loans.