Core building blocks of a successful Franchise opportunity

All franchise opportunities originate from a concept, which is essentially an idea, which forms a nucleus or core around which other business activities are framed. Success primarily depends on how well planned and secure this core is. Making this core as unique as possible is the most creative and innovative tasks for an entrepreneur. Theoretically, concepts serve as norms or models with things fluctuating in some respects while others remaining constant. For example, in case of restaurants, convenience and service may be more important constant than the menu itself. McDonald’s concept has quality, value, service and convenience; Domino’s pizza focuses on delivery; Chick-fil-A on family service; and Subway on freshly prepared sandwiches. Although each of these restaurants serve menu items, the special uniqueness of the products or services, makes them different from each other. A stronger concept results in a successful franchise. In addition, it should fulfill needs of the desired customers to as greater extent as possible. Above all, the concept will not be susceptible to copying if it is protected by some unique properties acting as a firewall.

Discover the rest of the core concepts that make a successful franchise by reading the full article here

Leave a Comment

Your email address will not be published. Required fields are marked *