
For those contemplating franchising a business, particularly as we step into a new annum, this piece can act as a valuable guidepost towards making the decisive leap towards owning a franchised endeavor.
Reflections Before Venturing into Franchising
A stable income source might be on your mind, but setting up something from scratch can be daunting. Thus, a plethora of individuals consider commencing their journey via franchising, feeling it gives them a competitive edge. But how to take off? It’s imperative to take certain aspects into account before settling on the option of running a franchise.
– Every business involves potential hazards. Are you ready to stake your finances in business? Reflecting on past instances where money-management decisions were required could provide insight into your readiness for this significant commitment.
– As a franchisee, adherence to specified protocols stipulated in the agreement is mandated. Are you alright with abiding by the set terms and conditions, thereby sustaining the franchisor’s business standards?
– Prior to franchising, you might need a bit of self-analysis. Can you adhere to rules? If not, this might be a signal that franchising might not be your cup of tea.
– A simple calculation: ASSETS – LIABILITIES = NETWORTH
Some franchisors might have a particular net worth prerequisite, which might not be a concern unless you’re venturing into a smaller business.
– To choose the right franchise, emphasizing your skills and aptitude can equip you with much-needed tools to grow the business, rather than just picking a franchise blindly.
– Questions related to revenue might not be directly addressed by your franchisor. Hence, consulting with current franchisees might offer a clearer perspective, aiding you in deciding whether the selected franchise aligns with your goals and your capability.
– If the idea of owning a franchise has been festering for some time, mapping out a business blueprint might be beneficial, especially if you are considering taking a loan.
Banks often require future projections and your overall business game plan.
Perks of Possessing a Franchise Business
Possessing a franchised enterprise does come with fair advantages, which might motivate you to prefer it over launching your own business.
– Aligning with a recognized brand lends you leverage.
– A franchisor provides a ready-to-start business template, eliminating worries concerning business initiation. As a franchisee, your responsibility lies in implementing the stipulations mentioned in the agreement.
– You won’t have to fret over necessary equipment as they’re included in the franchise fee.
– Acquiring supplies from the franchisor is cost-effective due to the discounts they might have secured, which can be passed onto the franchisees.
– Financing becomes smoother as franchisors often have established relationships with lenders. These lenders view franchises as a reputable brand’s referral, which carries more weight than a lone, budding entrepreneur.
– Notable brands never miss an opportunity to grow their presence. They provide marketing and advertising support, which would require a monthly payment from each franchisee.
– While the ROI for your own business may span anywhere between 5-7 years, for an established brand, the projection could be 2-3 years.
– Franchisors arrange seminars and training for franchisees to better equip them for the business journey.
– As a franchisee, you don’t have to labor over creating new products or market expansion strategies. The franchisors take care of this and might request franchisees to test out new concepts.
– Franchisors have dedicated personnel to scout ideal locations for franchises, leaving you free from the stress of finding the perfect location.
– In the unlikely event of business discontinuation after the contract term, the franchisee has the option to resell the franchise to the franchisor. This could ease the transition process.
Finally, deciding to embark on a franchised venture could be a salve for current financial hardships. However, it’s crucial to discern which business suits your needs. Armed with adequate knowledge and sufficient financial prowess, you could already be on the pathway to realizing your dream. It’s all about taking that first step.
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If you have any questions or would like to share your thoughts on the column, feel free to send an email to jca.bblueprint@gmail.com. Looking forward to connecting with you!



Amazing
The continuing senate investigation into the amazing mayor Alicia Guo had gone into amazing discoveries, chief of them the identity of the amazing family of a daughter who lived in a purported farm. In her statement during the senate hearings, she said that her father impregnated their housemaid who was purportedly her biological mother but she left their home just after her birth. She said she never had the chance to know her mother while growing in the farm. She narrated an amazing tale of her life in the farm where she had a tutor as she did not get any formal education.
Succeeding hearings unearthed more secrets that gradually bared the real identity of the impostor mayor. Documents gathered disclosed that her parents are Chinese citizens and she had siblings from their common parents who is not their housemaid as told by her in previous hearings. The discovered evidences led to more untold information regarding her identity as when another person of the same name, parents and other personal information such as the date and place of birth as well as the thumbprint, except the photo appearing on the passport. Such discovery opened more questions and violations, chiefly the identity theft of the other person.
Probing beyond the initial issues that triggered the senate investigation, the committee delved into the abuse of the country’s late registration system. It was learned that many Chinese individuals were able to obtain fabricated certificates of live birth which qualified them to procure other government issued documents such as licenses. What is revolting to the public mind was the fact that the fabricated certificates of live birth were obtained in cahoots with personnel of local civil registrars. The anomalous transactions were done at a high cost that reach into hundreds of thousands of pesos.
Such initial findings led to a move by the senate probers to stop the late registration system The proposal is valid but it would affect many of our citizens who are in need of their certificates of live birth through late registration. Innocent citizens who failed for whatever reason to register their birth will now suffer due to the shenanigans of criminal Chinese individuals and corrupt public servants. It would probably take some time to cleanse the late registration system and our citizens would be held in an uncertainty about their birth records. It really is unfortunate that the innocent has to suffer should the proposal to stop the late registration system is implemented.
Thus far, the senate committee had established the finding that the deceptive mayor had been lying before the probers. The documents gathered by the committee were ample to disprove the fallacious tale of Alic Guo who had now been cited in contempt. The senate had already issued an arrest warrant due to the non-appearance of the deceptive mayor. Like the wanted son of god, Alice Guo is nowhere to be found despite claims by her lawyers that she is not hiding but is just ill of mayhap be a fabricated illness. This is . . . amazing.
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