As per a report by the KPMG, the franchising Business in India is slated to grow four times in volume in the next five years contributing to about 4 percent of India’s total GDP, thereby generating huge job opportunities in the process. Unfortunately, there isn’t any standard business practice in India which is threatening the franchise ecosystem, therefore creating negativity amongst prospective franchisors, franchisees and investors. Therefore, the role of a franchise consultant here becomes crucial for both the franchisee as well as the franchisor. Only a franchise consultant can help a franchise achieve systematic growth and sustain itself in the future in spite of the recent challenges business owners are confronted with on a daily basis.
Who is a franchise consultant? What does he do? How does he help prospective franchisees and franchisors?
A franchise consultant, by the simplest definition, is a qualified professional who consults entrepreneurs–franchisees and franchisors–to buy or sell any franchise business in chennai, guides them through well-planned and targeted brand promotion strategies, and helps build an aspiring franchise business model directed toward rapid expansion. In addition, franchisees can unravel hidden business opportunities hitherto unknown to them by working alongside a trusted franchise consultant. Most franchise consultants work with brands right from reviewing their current profit model, managing legal work, training staff to launching their products in the marketplace, and elevating them to the next level.
That is why selecting a suitable franchise consultant can be imperative as there are several qualities you need to look for if you’re expecting tangible results or measurable outcomes out of the process. When validating your business model with a franchise consultant is always a good practice, it must be a continuous process though because the business environment is ever dynamic and requires the monitoring of competitors, environmental forces, channel participants, stakeholders, and customer receptiveness. When a business concept becomes powerful in the marketplace, the business owner will naturally start thinking of expanding the concept in different regions based on his or her limited resources (budget, manpower, etc). adopted franchise model and overall profitability. However, expanding a business through a franchise model can be alluring to start with, but maintaining the growth rate would be a tough task for any franchisor, however big the brand is. This is where the franchisor needs to consider a franchise consultant for the success of the franchise.
Points to consider
Most franchise consultants have a standardized process for working with any franchisor or franchisee based on his or her aspirations, visions, and values. Providing a custom questionnaire to the franchisor or a franchisee sets the tone for the rest of the process. In the initial round of discussion, the franchisor or franchisee can judge the consultant’s expertise by not just asking some random questions, but the right ones related to his or her industry, brand, and business including the availability of the right locations and existing investors in the network who could fit the bill. This will also give the franchisor or franchisee an idea of the qualities he or she is looking for in a consultant. Before making an informed decision, it is important to evaluate the client whom the consultant is associated with or working with currently, and get their feedback if possible.
If you’re looking for the best franchise consultant in hyderabad, then look no further than Strategizer Franchise Consulting Services for a world of franchise business opportunities in Chennai and beyond. Just talk to us, and we will tell you how to save your valuable time and money through our franchising consulting anytime, whether you are a franchisor, franchisee, or even an investor.
