What should you pay attention to when joining a store?
In recent years, franchising and entrepreneurship has become a popular choice for many people to achieve financial freedom. However, joining the franchise is not easy and requires careful selection and management. This article combines the hot topics and hot content on the Internet in the past 10 days to sort out the key points that you need to pay attention to when joining a franchise store, helping entrepreneurs avoid risks and improve their success rate.
1. Market research before joining
Before deciding to join, you must conduct a comprehensive research on the market. The following is the recent market performance of popular franchise industries:
| industry | Popular brands | Average investment amount (10,000 yuan) | Payback period (months) |
|---|---|---|---|
| Milk tea drinks | Mixue Ice City, Tea Hundred Road | 20-50 | 12-18 |
| fast snacks | Zhengxin Chicken Steak, Zhangliang Malatang | 15-40 | 10-15 |
| convenience store | Meiyijia, FamilyMart | 30-80 | 18-24 |
As can be seen from the table, the investment amount and payback period vary greatly in different industries. Entrepreneurs should choose the appropriate industry based on their own financial strength and risk tolerance.
2. Key factors in brand selection
Choosing a reliable franchise brand is the key to success. The following are the key points of brand selection that have been discussed frequently on the Internet recently:
1.brand awareness: High-profile brands bring their own traffic, but franchise fees and management fees are higher.
2.Headquarters support: Including training, site selection, decoration, supply chain, etc. The more complete the support, the more worry-free the franchisees will be.
3.Contract terms: You need to read the contract carefully, especially the terms such as fees, regional protection, and termination conditions.
Recently, the news that a well-known milk tea brand suffered losses for its franchisees due to poor regional protection has triggered heated discussions. Entrepreneurs are reminded to pay attention to the details of the contract.
3. Things to note when choosing a store location
Site selection is one of the key factors for the success of a franchise store. The following are the key points of site selection recently summarized by industry experts:
| location type | advantage | shortcoming |
|---|---|---|
| Shopping mall/shopping mall | Large flow of people and strong consumption power | Rents are high and competition is fierce |
| Around the community | Stable customer base and low rent | Limited foot traffic |
| near school | Concentrated target customers | Greatly affected by winter and summer vacations |
4. Fund planning and risk control
Franchise entrepreneurship requires reasonable capital planning. The recent experiences shared by many entrepreneurial bloggers show that:
1.Prepare sufficient working capital: In addition to the franchise fee, 3-6 months of operating funds need to be reserved.
2.Control costs: Be careful in decorating and purchasing equipment to avoid unnecessary expenses.
3.Be prepared to lose money: You may face losses in the early stages of starting a business, so you must be mentally prepared and have a response plan.
5. Key points of operation management
After joining, daily operation management is equally important. Popular recent management experiences include:
1.staff training: Service quality and product standardization are the keys to retaining customers.
2.Marketing promotion: Make good use of social media and localized marketing methods to attract customers.
3.data analysis: Regularly analyze sales data and adjust business strategies in a timely manner.
6. Legal risk prevention
Recently, many franchise dispute cases have attracted attention, and entrepreneurs are reminded to pay attention to:
1.Review qualifications: Confirm that the franchise brand has been registered and has franchise qualifications.
2.Keep evidence: Save all contracts, payment vouchers, communication records, etc.
3.Seek professional help: Consult a lawyer or franchise consultant when necessary.
Summarize
Franchising and entrepreneurship is a road full of opportunities and challenges. From the analysis of this article, we can see that successful franchising requires comprehensive consideration in many aspects, including market research, brand selection, site selection, capital planning, operation management, and legal risk prevention. Many franchise cases that have been hotly discussed on the Internet recently also confirm the importance of these points. We hope that entrepreneurs can make careful decisions, choose franchise projects that suit them, and realize their entrepreneurial dreams.
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