Reasons Why Some People are Sceptical of Franchises

Published on: 05 November 2018 Last Updated on: 16 July 2024

You can see several successful franchises all over the country, and even around the world. Some of the biggest names have established themselves in various parts of the world because of their business model. Franchising is the best business opportunity that allows you to benefit from the good reputation that the brand already has.

Some people are quite sceptical about franchising though. They prefer to start their business from scratch. There is nothing wrong if you decide to build everything from zero. However, it is also essential to know the truth behind franchising, and why you don’t need to be too sceptical of the idea.

You might not succeed:

The good thing about franchises is that you are buying a name that people already know. You also receive assistance and training. You receive the equipment and supplies necessary to run the business. These things will give you a leg up as opposed to starting a business from scratch. Given the help that you receive, it is possible for you to achieve success. It does not guarantee anything though. You only have a leg up, but you still need to work hard. Franchises will give you the opportunity to get ahead, but if you don’t make the most of it, the problem is yours.

The brand might not be beneficial:

Another reason why you are at an advantage when you buy a franchise is that you have the name of a brand that people already recognise. You don’t need to work hard to promote the business. Franchising comes with built-in customers, and it is a good thing. However, some people are sceptical because of the possibility that the brand gets tainted. For instance, if one branch of a fast food restaurant has a food poisoning scandal, the other branches get affected.

You can minimise this by making sure that you don’t choose a company that doesn’t have a stable name in the industry. You need to review the options and find the perfect franchise. On the other hand, even if your chosen brand experiences this problem, it will eventually weather it out. Big names like Coca-Cola, KFC, or McDonald’s have weathered several storms, and managed to survive.

Some franchisors might not care about your success:

Although it is partly true, it only happens if you choose a franchisor who has a lousy record in franchising. If you already know the negative reputation of the said company in franchising, you can jump to other choices instead. Besides, you have tools at your disposal to screen the options. Having a franchisor who cares about your success is crucial in making sure you will succeed as a franchisee.

You can find new franchises UK companies offer which are top quality that will not make you sceptical about the idea of franchising at all. You will receive the help you deserve from the start, and you will continue receiving support along the way.

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How to Stand Out in the Competitive Corporate World

Building a portfolio in today’s competitive corporate environment is a tough challenge for professionals. After all, you need to stand out from the crowd in order to land your dream job. So the question is, how do you make sure you set yourself apart from your competitors in the industry? Staying Ahead of Your Competitors in the Corporate World: Everyone has their own competitors to live out with. Whether you’re a doctor, artist, musician, or a business owner, you will come to a point where you need to stand out and draw your market’s attention. Moreover, the corporate world is like the complex rollercoaster ride, where you can skip your job or play some other trick, to reach to a level much higher than your previous one. Therefore, you need some effective strategies to stay ahead of your competitors in this world where change is a constant thing. The following are some tips you can use in order to develop a more competitive edge from your corporate competition. Also remember that no trick is the short cut, talent, wit, and hard work is going to pay you for the long run: Develop your strengths to better skills to become your best self. Do not stop acquiring skills and practice whatever you learn so you can turn them into qualifications. You can opt to take a masters in business administration online if you don’t have the time to go to a traditional university. With the right skills set, you can get your dream job in the company you want to work long term. Focus on your personal branding. One of the most important factors in an individual’s professional portfolio is a personal brand. If you have strong branding, it’s easier to showcase your potential to employers and companies. You can blog, join podcasts, attend conferences, and accept speaking engagements to get your brand out there. Creating a trend is not so hard these days. Create your own story, own character, and own trademark, and you already be considered as a brand. For example, McDonalds’ clown is the mascot of the brand, therefore the brand is not only famous physically but digitally too. The character’s humble and funny habits have portrayed the brand as a good and humble brand. Now we know why we think of McDonald's, whenever we feel like having burgers! Research on the areas your competitors lack and work on them. What do you think is your edge from your competitors? What are the potential deficiencies that made you stand out from them? Work on those areas and take over the competition in the corporate world. Provide insights whenever you can. The secret to a successful corporate life is sharing your knowledge and expertise. This will boost your personal brand while increasing your connections. One of the best way to let know of your professional caliber to your community is via Linkedin. Linkedin not only gives you recognition in your professional field but also finds you great opportunities to enhance your lifestyle. Whether it’s in the office or on conferences, build rapport with people to improve your reputation. Professionals, business owners, and organizations need to look for continuous improvement in order to remain relevant in their industries. If you work with talented people and continue learning, it’s easier to stand out and conquer your corporate goals. Don’t just be hardworking and intelligent; know how to take on challenges and turn them into opportunities. Remember, it’s a dog eats dog world out there - equipping yourself with the right mindset and skills is important. Read Also: A Beginner’s Guide In Using MT4 On A Mac 3 Ways To Boost Employee Engagement In Your Business New Technology In Business: 4 Inventions In 2019 That Are Changing The Game

How Business Owners Can Better Utilize Freelance Work

Small businesses don’t always have a ton of cash or room to make costly mistakes, so every penny, every asset, every minute, counts. Often, small businesses will turn to freelancers for certain projects where they need expert help, but that can also take a hit on your bank account, so ensuring the freelancer does good work is crucial. Sometimes though, the freelance work falls short, leaving the small business low on funds with a deliverable that is unusable. So how do you avoid that? Let’s talk about a better way of finding freelance workers for your business. Revenue Sharing Model Each freelancer can be paid differently. Some are paid upfront or given equity, others are paid a percentage of the final revenue, and some are paid when the job gets done. Here’s the best thing a small business that is low on upstart funds can do when it comes to hiring a freelancer: Adopt a revenue-sharing model. What that means is the freelancer gets paid when you do. They’ll complete the project, deliver all final assets to the business owner, but they’ll only get paid if and when you start making money. There will be a percentage that is agreed upon by both parties before the project begins, and if your business starts bringing in revenue, you’ll then pay off the percentage owed to the freelancer. If your business never makes money, you do not have to pay the freelancer a dime. Why is this a good idea? First of all, it decreases the risk for the business by waiting to pay the freelancer until there is secure revenue coming in. Second, with this idea in mind, freelancers can do some of their best work. They aren’t just getting paid to finish a job, there’s a higher expectation of their work. They understand that if their work is mediocre, there’s a lower chance of them getting paid. It’s in their best interest to do the best work they can, not only to help you as a business owner but to help themselves as well. Develop a Relationship Far too often, businesses pay freelancers for work only to be unsatisfied with the end product. Many times this is due to a lack of communication on one or both sides. To ensure that you are getting quality service delivered from a freelance worker, it’s important to have an understanding relationship. Here are a few tips on how to accomplish that: Describe Your Communication Style If you’re not sure what your communication style is, it’s not a bad idea to find out or develop a system that works for you. Some people have very blunt ways of communicating while others are timider. Talking about your preferred communication style with the freelancer you hired will help to avoid conflict, assumptions, and hard feelings. Explain Your Needs Don’t be afraid to express where there are gaps in understanding. The freelancer is there to be an expert in an area that you may not be familiar with. It’s okay to say things like, “I’m not sure I understand that, could you explain how that works?” The more you can understand the process, the better you’ll be able to communicate and get an end product you’re happy with. Do Your Part If you feel there are gaps in understanding, take a step back, and see if there is anything you might have left out in communication with the freelancer. Sometimes we get in our own bubble and assume other people understand what we are talking about when in reality we need to explain certain things in more depth. Good Luck! Some of these tips may seem like a no-brainer, but you’d be surprised how often business owners fail to communicate well with the freelancers they hire. If you can adopt these practices into your business model, your freelancers’ work will improve significantly and you won’t have to worry about an unfortunate loss of precious funds. Read also: 5 Office Organization Tips Every New Business Owners Must Know The significance of face-to-face networking for freelancers Five Reasons Why Freelancers Should Use a Coworking Space 5 Most lucrative home-based business opportunities

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7 Ways To Improve Your Company Culture

As a business or company owner, you know a positive company culture is essential for your employee's motivation, productivity, and well-being. A good workplace culture can enhance morale, heighten job satisfaction, and inspire creativity. However, creating and maintaining a healthy and positive company culture can be challenging. In this blog post, we have gathered seven tips that will help you improve your company culture. So, dive in to learn all the details. Reasons Why Company Culture Is Important The success of a company organization depends on the internal discipline within the organization. They set disciplinary guidelines on different matters within the organization. It can help you attain the growth that you need. In this section, we understand some of the reasons to understand why the company culture is crucial for your organization. Increasing Employee Employment As we mentioned, the company culture is a set of rules that binds all the members. An organizational culture is driven by clear expectations. It, in a way, motivates and inspires the employees to be more engaged in their duties and responsibilities. It motivates the concerned people to deliver for the organization. Decreased Turnover People who think that they do not have value are less likely to leave the organization. This is why the company must set the winning organizational culture to support the vision. Respecting the senior members within the organization, without question, is one of them. Their efforts and integration are crucial to chalk out the success of the company. Elevated Productivity Many business organizations fail due to a lack of productivity. According to the values of the company culture, the company must work consistently to increase the productivity of the organization. Organizational culture has an extremely strong impact on the organization. It binds the people working and motivates them to perform. At the same time, the organization must try its best to support its employees with the resources to increase its productivity. Strengthening Identify Of The Brand The company‘s organizational culture represents the public image and reputation. If a company lacks an organizational culture, it cannot stand strong in keeping its public image. Internal discipline in the organization is a must to strengthen the core values. Improved Recruitment The success of an organization depends on getting talented people on board. One-third of the respondents in a survey opined that they would leave an organization if it did not have a good company culture. Not only this, the best candidates look to be associated with an organization with an extremely strong company culture. This is why the management of the different organizations works persistently to strengthen the company culture. Ways To Improve The Company Culture As discussed above, the company culture is one of the most important tools to eliminate the weakness and sail towards the pathway of development. This section discusses some of the top seven practices to improve your company culture. 1 - Encourage Collaboration Between Departments Team collaboration is an effective strategy for creating a healthy and positive company culture. Encouraging employees to work with colleagues from different departments can promote cross-functional learning and better knowledge sharing. It also shows that the company considers every employee as an essential asset. Online team building activities are interactive, fun, and easy to do. For instance, you can organize a virtual magic show, escape room, virtual trivia, or a company-wide game. There are many options to choose from that can help encourage collaboration between departments. 2 - Introduce A Rewards System To Recognize Employee Achievements When employees feel a sense of acknowledgment, esteem, and appreciation for their efforts, it propels them to excel even further. The implementation of a reward system can serve as a potent tool to elevate the spirit of the workforce and inspire them towards superior performance. These rewards could be monetary incentives, certificates, or non-monetary incentives like extra time off, free snacks, etc. 3 - Offer Flexible Working Hours To Allow For Better Work-Life Balance Offering a flexible schedule can improve your company's overall culture. Research shows that flexible working hours lead to higher job satisfaction and productivity. Employees can manage to work around their obligations and feel trusted and valued. In response, they feel more dedicated to their work and contribute more effectively to the organization. 4 - Establish A Mission Statement & Communicate It A mission statement is a declaration of your company's purpose and values. Establishing a mission statement can align employees with your company's vision and help develop a unique workplace culture. It can also unify your team and create a sense of belonging. Regularly sharing your company's mission statement aids employees in grasping the significance of their role in upholding the organization's vision and principles. 5 - Create An Open and Inviting Atmosphere Creating an open and inviting atmosphere can increase employee engagement and job satisfaction. This atmosphere can be achieved by providing a comfortable and ergonomic workspace, natural light, and good ventilation. A pleasant physical space can improve motivation and overall health. 6 - Establish Health & Wellness Initiatives Prioritizing your employees' physical and mental well-being can improve your company's culture. Some initiatives could include providing healthy snacks, installing standing desks, organizing office sports teams, or offering stress-management courses. Encouraging employees to prioritize their health can lead to better well-being overall. 7 - Provide Plenty Of Opportunities For Professional Development Lastly, professional development opportunities can enhance employee skills, knowledge, and motivation. It also shows that the company is invested in its employees' growth and development. These opportunities include professional skills training, leadership development courses, mentorship programs, or co-learning sessions. Unlock the Potential of Your Team: Discover the Benefits of a Thriving Company Culture Improving your company culture requires a holistic approach. By implementing these tips, you can create a more positive, vibrant, and engaging culture that promotes employee motivation, productivity, and well-being. Encouraging collaboration, recognizing achievements, establishing a mission statement, creating an open atmosphere, prioritizing well-being, and offering professional development opportunities can all help to build a healthy and positive company culture. Remember that culture is not created overnight; cultivating a healthy and inclusive workplace environment takes time and effort. Investing in your company culture means investing in your employees, ultimately leading to long-term business success. Read Also Strategies For Preventing Workplace Injuries Proactively What Are the Ways to Prepare a New Employee? How to Create an Effective Company Training Program

Reasons Why Some People are Sceptical of Franchises

You might not succeed:

The brand might not be beneficial:

Some franchisors might not care about your success:

You Need to Ditch Your Full-Time Accounting Staff for an Accounting Firm

Green Business Opportunities for Eco-Entrepreneurs

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

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How to Stand Out in the Competitive Corporate World

How Business Owners Can Better Utilize Freelance Work

7 Ways To Improve Your Company Culture

Reasons Why Some People are Sceptical of Franchises

You might not succeed:

The brand might not be beneficial:

Some franchisors might not care about your success:

Share this Article

You Need to Ditch Your Full-Time Accounting Staff for an Accounting Firm

Green Business Opportunities for Eco-Entrepreneurs

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related