Franchise Retail
Various retail franchise are set up to provide information on the ownership of the retail store franchise. Almost every industry offers franchise retailing in the market. Like:
Jewelry: Retailing in jewelry franchise is rising day by day. Franchising in jewelry can be done through wholesale jewelry distribution, retailing jewelry store, or by selling jewelry through kiosks in the malls.
Printing and copying: The printing/copying franchise industry is rapidly expanding is perimeters because of the increasing demand of digital imaging, printing, photocopying, design, fax and related reproduction requirements. The industry is also working to offer fully integrated web-based ordering system.
Travel Industry: Franchise retailing in this industry can be done by opening a travel agency, an online travel booking center, or a car rental franchise.
Furniture industry: Franchising is furniture industry is expanding itself by not only selling new furniture in the market, but also by incorporating repair and restoration in it.
Points which should be considered before buying a retail franchise:
- Interested franchisees first need to analyze their interest and financial conditions before applying for retail franchise. Like they should consdider what typ of items appeal them more? Or will they be ready to work on weekends and holidays.
- After selecting the item and checking out the budget, the franchisees should do some research on the terms and conditions, and working criteria explained by the franchisor. For this they can take help of previous and existing franchisees.
- After doing research on franchisor, the franchisee should do some additional research on market. This will help him in knowing the strong community of customer in the market.
- Select a good location to set up the store.
- Take help from financers and secure financing for smooth running of the store.
- Recruit or hire qualified staff for the franchise.
- Do all the paper work required to get the permission to start a store and insurance.
List of some franchise stores having retail chains worldwide:
7Eleven: It is a convenience store chain, headquartered in Australia, having an important trademark recognized worldwide and a successful system of operation. The store attains an award-winning franchise concept and has around 230 stores in VIC, NSW, and QLD.
The store continuously trying to expand itself and provides a huge range of services to its clients and employees. Like the store provides training to all its franchisees, offers 24 hour services to its clients, payroll service, helps in bookkeeping, negotiates with its suppliers, designs and develops product layouts recommended by its suppliers to earn maximum sales, and offers advertising and promotional support.
The store provides its franchisees flexibility to open a store that has size and location of their own choices. The expansion plans for the store are also decided by the franchisees only. It offers exclusive territory rights to its franchisees which further help them in maintaining a strong customer base in the market. The store obtains high returns as it offers great value start-up package for its franchisees with guaranteed cash flow in the 1st term.
ISold: iSold is a leading sales store on eBay which has an international network of convenient neighbourhood drop-off stores to help its clients in selling their items. The store collects unwanted household items from its clients and pays them money for it. The work done by isold includes photography, listing, packing and shipping. There are around 200 franchise branches of the store located in the various portion of the world.
The store professionally takes photograph of each item then posts them online for sale. Every item posted by the store is collected in its inventory. The store also tries to answers each query of the buyers. After finalizing the deal, iSold collects the payment and do the shipping and packing of the sold item.
All the store operations like inventory tracking, customer database management, cheque collection etc are handled by SAM software installed in the business system of the store.
In addition to expanding its network, the store is also trying to provide additional services to its clients like corporate account programs and new e-commerce programs planned for the future.
Benefits of joining the franchise network of iSold
- The store provides national and international brand recongnition to its franchisees because of the largest drop-off network maintained by it in the whole world.
- Because of the market value attained by the store, the franchisees easily gets good rates and access of products from the suppliers.
- The proprietary store activity management software of the store helps it in operating the entire chain simply and effortless.
- The store employs external advertizing and public relation agencies in addition to its in-house marketing team to build its brandname in the market.
- The store helps its franchisees in getting some financiers who will help them in getting quick loans.
