Are You Paying for the System?

Food cart franchising has been trending since its debut on 2005. But unlike its ancestors which are the push carts selling fish balls, squidballs and kikiam; or the pedicab of home-made pizza, sorbetes or ice scramble; dont forget to  mention the ever heavy or light “Taho” and “Balot”; all this ancestors are personally operated by their owners on a single handled retailing or a network of 3 or more retailers. Meaning to say, all this proprietorship are own investments, personally managed and time consuming trial and error experiences.

Unlike in a franchised business like this food carts, the franchisee or investor will just pay the franchisors to teach them, train them and share to them all those school of knox learned knowledge in starting, operating, sustaining, managing and accounting skills to run the business.

Know the market!

If you are to start your own business you have to study all the facets of the business. Starting with the “what product is IN in the market today?” in that way you will know what specific product is needed by the specific market on a specific location. You can do this by being in the area in a certainly long period of time, you have to know the demographics of the area, learn the spending power of the people in the area, get to know their likes and taste. You can conduct personal surveys or you can get people to gather the informations needed. All of which will cost you money!

Know the Product!

When you have a product in mind to sell, the next things is how to get it. Research on list of suppliers, the cheapest one will give you more profit, the high-quality one will sustain your product in the market for a long period of time and those suppliers who will give you  terms will most likely be your long term  partners.

Know the strategy!

You have the market and you have the product, now you have to know how make them meet. How your product will capture the attention of your market and how your market will purchase your product? You can create promo packages or  combo products that will capture the taste and budget of the buying public.

Know your system!

Now that the market is buying your products, you should create a system that will product your investment internally. create inventory procedures, reporting mechanics and thief proof accounting system that will take care of your growing business.

Know your growth!

Every successful businessman’s destination (not just dream) is the growth of their business. learn to make expansion programs, will you add more products or just variety of them? will you focus on a certain segment of the market or will you create packages that will lessen the generation gap of your clients?

Go for Franchise!

All these market researches have been experienced by the  franchisors. And as part of their expansion program for their business they have gone franchising to invite other  investors and enterprising individuals to share their success with.

Avoid the time consuming trial and error stage, instead of wasting your money on a whole course of learning the procedures, invest on franchising that will give you the crash course of each business concept! Avoid the hassle in hunting and searching for the best suppliers, the franchisors have already tested most of them. Avoid the hassle of going to the market selecting your every purchase, the franchisors are obliged to  serve you the highest quality product possible. Avoid the risk of theft and unruly services crews, the franchisors are free to train them. Lessen your risk in having a business, the franchisors have already spent their previous riches in taking the risk of doing business.

Avoid bankruptcy! Be a Franchisee!

Happy Franchising!

Bee Smart!