store franchise

Store franchises or product franchises are a significant part of the franchising market.
In this text we will look in detail at the key features of a store franchise and how a store franchise is developed.

The information will be useful not only to entrepreneurs who have decided to pack a franchise, but also to those who are looking for a store franchise and want to understand the topic in order to choose a profitable offer.

trademark franchise

Before moving on to the stages of packaging a store franchise, we will determine the main distinctive features of a product franchise that a franchisee expects to receive in order to gain an advantage over competitors in the market.
Unique product
Naturally, the basis of a store franchise is some unique original product. Typically, this is a product with a registered name, produced under a unique brand. A franchise gives a unique right to distribute this product.
Point-of-sale (POS) design
The product must have its own sales system: whether the product is sold from the counter or through fitting or through consultation with a specialist. Any brand finds a set of selling tools for itself.
Accounting system
If you have a store and goods constantly arrive and are sold through it, you simply need an accounting system. Analysis of the assortment and work with balances is possible only through such a system. In addition, the franchise founder needs constant control over demand at all points; for this, a centralized system will be needed.
Product assortment matrix
As a rule, the franchisor has information about which items of its product range are in greatest demand in a particular region. Based on this data, he can recommend to the franchisee which items should be included in the assortment and in what quantities to keep the balance. For a franchise buyer, this is of significant value, because any experiments in this direction are fraught with “stuck” positions and large balances.
Demand stimulation tools
The franchise founder knows his consumers and knows how to sell his product. He is ready to share his promotion templates, content of advertising campaigns and promotions with franchisees. Everything that will help the franchisee sell goods through a partner outlet.

Store Franchise Packing Steps

Description of the stages of a product franchise development project
  • 1
    Business Research
    The first step of any franchise development project is the research phase. At this stage, we examine potential buyers of a franchise of the relevant category in order to understand what requirements they put forward for such a franchise, what features they think it should have.
  • 2
    Description of the financial model
    In the process of studying business, we understand the financial component of the business: what investments are required to start, what monthly revenue and cost structure the business assumes.
  • 3
    Development of franchise conditions
    Based on the described financial model, balanced franchise conditions are formed that will take into account the interests of both parties: the franchise founder and the partner.
  • 4
    Development of a commercial concession agreement
    The developed conditions form the basis of the commercial concession agreement. The agreement also sets out control points and areas of responsibility of the parties.
  • 5
    It is not enough to simply state responsibility; the partner must be taught the principles of doing business according to the rules of the network, and the starting point for this is the Laqy guide to doing business, which includes all the checklists, policies, rules, standards that are approved by the company.
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