Tag Archives: franchise territory mapping
How Franchise Territory Mapping Can Optimize Franchise Performance
The franchise business faces many challenges for profitable growth. The industry has gathered piles of information and data in various systems and spreadsheets, but it becomes challenging to consolidate all that to give informative and useful insights that are needed. Franchises looking to optimize the performance of a franchisee’s territories can utilize the data in […]
Planning a Profitable Franchise Territory
Before opening a franchise in any area, it is necessary to do proper franchise territory planning. Franchising is all about expansion of a company or business. It is a profitable business model that depends on how the plan is done for the development which determines its success. If the store already has a steady franchises […]
Defining a Franchise Territory
Before someone buys or sells a franchise, a common practice is to define the franchise territory. According to the one study, above 90% of the successful business franchises use the concept of establishing territory. There is no single method for dividing territories, which may be defined by criteria such as: Zip Codes Lines on a map […]
5 Rules For Effective Franchise Territory Allocation
An expanding business that franchises will allocate a specific area franchisees may operate. The allocation of franchise territories plays a vital role in the market segment and customer base to which a franchisee can sell. Thus, the task of allocating the franchise territory is critical to each franchisee’s success. Know the Region The first, and […]
Finding a Franchise Location Not Too Far and Not Too Close
When starting to franchise a business, one must consider competitors in the surrounding area. Competition, in general, is not a problem and can act as an advantage when the neighboring competitors cluster together. Experience has demonstrated that when certain retail outlets combine in an area, their strength outweighs the benefit of being alone, i.e., Walgreens […]
Tips on International Franchise Mapping
The Franchise Territory is the boundary through which each individual franchise works according to the Franchise agreement. Successful franchise planning plays a vital role in providing profit and success to an organization. The allocation of boundaries helps in assigning the franchises different geographical areas, each having a license. Franchise mapping also makes it easy to […]
How Franchisors Provide Franchisee Training for Greater Returns
People are highly interested in purchasing franchises particularly because such ventures come with viable and proven systems. Every franchise systems, therefore, must be associated with a comprehensive training program; such program will become beneficial for both franchisor and franchisee. The importance of contractual support obligation from franchisors is highlighted with item 11 of the Franchise […]
How Much Support to Give Franchisees
An excellent idea resulted in a successful new business. Expanding the business is the next big step. One way to expand is to franchise. While working through all the details that come with franchising a business one major thing to consider is: How much and what kind of support will you, the franchisor, give the […]
Financing to Grow a Franchise
If you are a business owner who wants to franchise, and financing is a top priority, there are a number of ways to obtain franchise financing. Before heading off to the traditional bank, you may want to consider other sources. Recently we spoke with La Mancha Sims, Managing Director for Triton Business Group Inc., on […]
10 Things to Consider Before Franchising Your Business
Things that you need to think about before franchising your business Every year, people start small businesses or with some sound investments, they start companies on a big scale. They work hard to get their business set up. After time, the business will either be a success or a failure. If the business has been successful, […]