Let us tell you the franchising story behind today’ McDonald

Ever been to McDonald’s? Perhaps the question should have been “How many times have you been to McDonalds?” I’m sure if we collect the response, most common answer would be, “Quite a number of times?”

But do you really know about the story behind your nearest Mc Donald? It is franchise concept that set back behind today’s Mc Donald. McDonald.

Today, McDonald is one of the world’s premier entrepreneurial success stories. In tough financial times, McDonald’s proved that ingenuity, trial and error, and gut instinct, are the key s building a service business that the entire world  come to admire.

Everyone has an idea, and one idea will create a blow!

Do you know the story behind today’s KFC? Harlin Sanders, the founder of KFC, operated sometimes observed chicken, made from his special recipe to hungry travelers.  In a very short time, his moist and tasty fried chicken became well known in the region where he had a restaurant. But due to a new interstate highway construction, he was forced to auction his property.
Then he started traveling along the highways of Kentucky, Indian and Ohio to persuade roadside restaurant owners to sample the chicken made by him. If they showed interest after the meal, he taught them, his cooking method and charged five cents for each bird cooked using his method. In no times, these restaurants started attracting customers by the scores and the business began to boom.

How to Find Hot Franchises in a Cold Market?

What buyers look for when shopping for a franchise if a famous brand name doesn't top their list?

The past two years have seen many franchisors humbled as their systems got smaller. After growing by more than 40 percent between 2001 and 2008, the number of franchise units dropped by nearly 4 percent between 2008 and 2009, and just barely grew at all in 2010, according to a 2011 report from PricewaterhouseCoopers for the International Franchise Association.
Still, some franchise companies are bucking this trend. They are experiencing rapid growth in spite of the down market and the obvious challenges that exist. What's their secret? They either have powerful brands or a compelling value proposition driving their growth.

Over the last two to three years, companies like Subway, McDonalds and 7-Eleven haven't had any trouble attracting buyers because their brand names are so strong and well known. Being part of a brand with virtually 100 percent top of mind awareness with consumers gives potential buyers confidence and security.

Without a famous brand name to rely on, however, a franchise company desiring rapid growth in today's market must have the numbers on their side -- in a big way. In fact, the money side of the business has become even more important than the product or service the business offers.

Here are three key factors that lesser known but still rapidly growing franchises have in common -- and buyers are increasingly looking for:

·         Low investment,

·         Rapid Breakeven,

·         High Margins.

So, how do you find these hot franchises if you're a buyer?

Start digging. Look for evidence of rapid growth and then burrow down to find the story behind that growth. When you find a company that's growing rapidly and has all of the characteristics discussed above, you've got a good target for moving forward and conducting a complete and thorough investigation.

Among other things, get to know the staff at the franchise company, carefully read their disclosure documents, talk to a number of their existing franchisees and make sure that their culture and values match yours.

How can I turn my business into a franchise?

We suggest you that you need to walk before you can run. This sounds like a great idea in theory but you need to put the theory to test to make sure it works in the real world.

It sounds like you haven't actually started your first business yet. You will need to start the business first and then run a number of vending machines for a while so you can get the business figured out from a marketing and operational standpoint.

You'll need to develop all of your sources for machines, supplies etc. Then you'll need to make sure the business can operate profitably for a period of time so you can demonstrate that success in some form or fashion to prospective franchisees.

Even at this point in time, you'll then have to determine if franchising the business makes economic sense. There are many costs involved in starting a franchise company and the total investment to reach breakeven in a franchise company operation for any concept can easily reach over a million dollars.

It may be wiser for you to expand the business in another manner other than a franchise. You can receive expert advice once you get to this point in your business from a good franchise attorney--they will help you make sense of your options.

A SWOT analysis is definitely needed when you are trying to recognize a good business opportunity.

Where is the market research that says you really need a restaurant in that area? Where will you get the financing to do the repairs? How much time will the landholder give you to get the repairs done? Is the landlord willing to pay for any of the essential repairs?

There are a lot of factors other than marketing that you'll need to address, and you'll need to find out what factors in your marketplace will allow you success. Basically run a marketing analysis and get some research done to be sure it's worth going for.

It can be a great idea if the market is willing to patronize your establishment. You'll also have to figure out what you're going to do that will make your restaurant unique.
A business plan will be the final tell-all as to whether or not it's a good idea. Bottom line, don't go in blind, if it feels right find the data that will justify it and other data that will present challenges to overcome.

Online Registration for Small Busniess 2011 will start soon!

Every year, Franchise India Holdings Limited hosts the Small Business conference which brings together small businesses from across India. This gathering offers a platform to begin a real dialogue about the issues facing small businesses across the nation.
There is no better way to get involved in the fight and have your voice heard than by participating in the Small Business Congress 2011. You can also take participation in discussion about pertinent issues for small business and vote on the top priority issues for the upcoming session of Congress.
Online registration will be open shortly. So be ready for that.

Inception of business ideas!

Every successful business starts with an idea. If you haven’t been immediately struck with inspiration, then coming up with a concept for your small business can be difficult and frustrating. However, there are some tried and tested methods you could use to come up with an idea that suits you.
Firstly, you could try doing some research into current start-up trends. The UK government publishes statistics on start-up types as part of their Small Business Service. Mintel also conducts market research on the growth of different sectors. It is generally advisable to enter a market sector that is either already well-established or is growing rapidly. Although these sectors will be crowded, at least there is a guaranteed market there for you to fight for a share.
Some entrepreneurs find it easier to look for gaps in a market and attempt to fill them. For example, if you learn about products that are doing well in other countries then you may be able to adapt them for sale here if no-one else is doing it. Other variables such as the location of your business and its opening hours could result in a business opportunity. If you can find a gap in the market that there is a genuine demand for, you could be on to a winner.
Other entrepreneurs have found business success simply by taking old ideas and breathing new life into them. Try to work out why a previously popular idea has been on the decline and then come up with a way of making it popular again. A small business can be very successful just by taking an existing idea and doing it better or differently to everyone else.
The Internet is a great way of modernizing an existing concept. Many successful web enterprises are based on very basic ideas that have simply been adjusted to make the most of technology. The Internet can add extra value to many business ideas, either because of the 24/7 convenience it provides or by how it simplifies things that were previously time-consuming.
If you are determined to invent something unique, look for problems that require a solution. New inventions can be a legal minefield involving copyrights and patents, but some of the best business ideas are often things that are so simple it is hard to believe no-one else thought of it first.

Don’t keep a dog but bark yourself while in a start-up!

Hiring staff is always a double edged sword, staff cost money, time but hopefully they will take work off of your back and increase productivity.
After weeks you are still doing the work you hoped your new staff member would do, but here you are still talking to the customer, etc. – so, why did you hire the new staff member? The reasons are still the same, aren’t they?
So – what is the problem? Simple, YOU are the problem, because you will not let go. Why? Out of fear they do it wrong, or god forbid they do it different to you.
By hiring your new staff member your job has changed, you are no longer doing your colleagues’ job, you are there to help him/her to do the job you used to do. You never know, maybe they will teach you a thing or two as well.
You should only hire people that are better at what they do than you. Do that and you’ll enjoy having your new colleague on-board much more.