Why need a great franchise proposal
Franchise business is very strategic business model opted by corporate retailers, individual brand owners or a single brand retailer. Franchise model helps brand to expand the distribution channel with minimum overview from operational perspective. It also a great way to create business opportunity for individual (small) or portfolio investors. It is the best way to experience retail management system, while having a strong franchisor support system in place.
However, the key aspect for brands wanting to go franchise model is to have a sound business proposal backed by valid data. Specially for brands which are new in the retail business and contemplating a long term franchise route to grow the brand presence. With each passing day, retail business is becoming a margin game with so many products catching up the space. Online commerce is a major challenge in this market. But for India, it is having a huge base of consumers, and offline retail is here to stay. The challenge is the way consumer demand is addressed and experience is enhanced through innovation. Franchise business is also evolving with the demand.
Sound business proposal
Finding the right business partner in franchise business is one of the main priority items of every franchisor. There are many ways to achieve it. To achieve it franchise owner should have a great PITCH for serious investors. The right investor will always appreciate a great pitch backed with relevant data. Pitch is a representation of business model that a franchisor will showcase to potential investor / franchisee. A franchise pitch is a way to market the brand and the readiness of the brand.
So going no further , please download the sample copy of “Must have elements in the franchise PITCH deck for investors.”
Freelance economy –
As per investopedia the freelance economy, also known as the gig economy, is a labor market consisting of a growing number of short-term contracts. Companies hire self-employed workers to undertake specific jobs in return for an agreed-upon payment, rather than offering them permanent positions.
With startup economy booming in India, and #Entrepreneurship ecosystem shaping for good, we see a surge in #freelancers in India. The demand is only growing. Market is also responding to the increasing demand of freelance, they are: Co-working space boom, startup boom, outsource of consulting work, cost / labor arbitrage within local markets, fast changing technology, innovation and ideation process, etc. Hence it is imperative to respond to the changing demand in freelance market.
So here is 7 best ways to be a professional freelancer in India:
- Be an Expert in Your Field – skill skill skill, remember you are only because of your skills. So, know your expert area and charge.
- Adaptability – As a freelance professional, always be on top of your right attitude and action. Do what you know, know what you can do as per the demand, client demand. Since you are not bound to any corporate process, understand the market and change
- Commitment is key – Do what you promise you will do. Responding to people promptly and following through on promises as per the timeline. As a professional, you will be counted by your client only if you are agile and deliver as expected.
- Communication is cing! – Never shy away from making the first effort to reach to the client. Give them the big picture. Help them to understand the total perspective. Email, have a written communication, keep everyone in loop. Do not underestimate the power of communication.
- Be Structured and Organized – You are your brand. In an unorganized market of freelancing, make a mark by being organized. It is a no brain formula, often missed by freelancers. Keep files ready, note everything, use pen and paper 🙂
- Accountability – Own up your mistakes. Professionals are accountable for the work they are given. It is fine to fail but don’t blame others in times of crisis. Manage the crisis by acting and fixing the problem. Client would appreciate if you make effort to find.
- Be Confident – Don’t be cocky, do not over do, dress for the occasions. Be polite and well-spoken while speaking to customers, superiors and co-workers. Work on body language. As a gig you are the boss so make the right decisions.