Conversion franchise is the latest trend that is helping businesses do a profitable turnaround, writes Aysha Anam
What happens when a small independent business owner is approached by – or discovers that - a franchisor is keen to convert his mom and pop store into its own franchise unit? Well, conversion franchising - which allows an independent business to convert its name, brand, trademark and operating system into a franchisee of a successful brand - is a scenario that seems to be playing out more and more in recent years.
But why would you want to compromise on your independence to run a business? What do you get in return? And how can you decide if the decision to become a franchisee is right for you? To be sure, there are a number of pros and cons to converting an existing business operation into a franchise one.
WHY IT WORKS?
Wanting to convert into an organized setup under the umbrella of a brand would be advantageous for both – the small business owners and parent enterprises, which do not have to bear the burden of wear and tear issues as seen under a normal franchise model.
This story is from the January 2018 edition of The Franchising World.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2018 edition of The Franchising World.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
What Terrible Bosses Can Teach You
Sometimes the best insights come from the worst experiences. Here, six founders dish on their awful former bosses—and how they learned to do better.
Quick service restaurants' revenue, margin under stress; recovery seems distant: Report
The rising popularity of food aggregators has hurt dine-in sales of quick service restaurants QSR) and has also fragmented delivery sales
Louis Philippe and Peter England Debut Exclusive Outlets in Mauritius
Aditya Birla Fashion and Retail Ltd. (ABFRL) launched Louis Philippe and Peter England, its distinguished menswear brands, to the vibrant retail landscape of Mauritius in collaboration with Jetha Tulsidas.
Yum Restaurants India Exits Devyani International
According to the block deal data available on the National Stock Exchange (NSE), Yum Restaurants India offloaded 5,30,83,330 shares, amounting to its 4.4 per cent stake in Devyani International.
LG ELECTRONICS ENTERS SELF-LAUNDRY SERVICE IN INDIA, TO INVEST $4 MN IN 2024
Leading home appliances maker LG Electronics India announced its entry into the self-laundry services space, where it is planning to invest $4 million (around Rs 33.2 crore).
CarzSpa outshines the Rest
Established in 2006 by Anckur Sama in Gujarat, CarzSpa has risen as the premier car detailing franchise, experiencing exponential growth across India and Nepal. Renowned for its high-end premium detailing services, including paint protection products and ceramic coating.
241 PIZZA SET FOR MEGA EXPANSION
Canada-based quick service restaurant chain 241 Pizza has evolved as one of the leading pizza brands in Ontario. The brand will continue its aggressive expansion spree” with a significant commitment to expanding its presence in the India Gulf markets. In a candid conversation, Tariq El-Nogqrashy, Director of Franchising Real Estate Development at Chairman’s Brands, talks to The Franchising World about the company’s foray into the Indian market.
Recipe to Success
Four school friends embarked on a culinary adventure that would change the dining scene forever in Mayfair London. Thus, in 2011, Burger Lobster was born. Riccardo La Monica, Managing Director Asia/Middle East) at Burger Lobster Restaurant Group Limited talks to Beny Sachdeva about brand’s expansion plans.
BETTING BIG ON RETAIL BIZ
In discussion with Beny Sachdeva, Prateek Tikmani, Multi-unit Franchisee of Manyavar, Manyavar Mohey Raymond spill the beans about his success story and his journey so far with the renowned retail brands in India.
HOW FAILURE FUELLED NINA LEKHI TO BUILD A FLOURISHING BRAND, BAGGIT
Entrepreneurial journey of Nina Lekhi, Founder, Baggit was nothing short of extraordinary. As a young woman, she faced setbacks in her academic pursuits, finding herself forced to take a year off from college. But Nina was not one to be deterred by challenges. Determined to prove her worth, she embarked on a journey fueled by resilience and ambition. As she continues to shape the future of entrepreneurship, Nina’s journey serves as a beacon of hope for generations to come.
