An excellent entrepreneur always knows when to jump on the opportunity to start his or her business. Taking stock silently, we find that half of the year 2019 has been away from us. What’s working? What’s not? And what’s lying ahead for the second half of the year? Business trends come and go. What matters is to seize the best opportunity and make the most out of it. Chances are that you may make a killing on it.
Recent years have seen a rapid growth of franchise stores. According to a study by the International Franchise Association (IFA), the franchise sector has been on the rise over the past four years. Take for example XIMIVOGUE, a Korea-based designer brand. It has opened about 1,400 stores throughout the world within three years. An average of two stores is opening every day. Additionally, the study demonstrates that franchise business output is expected to increase by 6.2 percent to $757 billion. So what’s behind this upward trend? Opportunity. With the franchise sector growing at a steady rate, it is a great time to get started and run your franchising business.
Advantages of Buying a Franchise
1. Established Brand Recognition
The first thing franchises bring to franchisees is brand power. Corporate brand identities have proven success in the marketplace everywhere in the world. Mega-brands like McDonald’s and Starbucks have cumulative market impacts and attract a myriad of customers every day. They are willing to go to a McDonalds if they want a burger instead of an unknown place. Therefore, without a known brand, it takes time for people to know what products or services you provide. Or it may be months before people start coming to your store, even if your products and services are better than those of the franchise. Chances are that you may suffer the loss for a long time before you finally break-even or make a small profit.
2. Opening and Operating Experience
It takes nerve to run a privately-owned business, especially for those starting their business for the first time. But the franchisor’s experience and tested franchising system can save a franchisee a lot of troubles. Basically, a franchise can jump-start your new business. Generally, franchisors provide quite a few superior services, ranging from advanced training, documented standards and procedures, to opening inventory levels and grand opening marketing strategies. For example, XIMIVOGUE, a fast fashion department franchised store, has senior supervisors to help the franchisees. And a professional lecturer will be designated to teach you lots of knowledge and skills about the store operations according to the sales condition of nowadays market.
3. Ongoing Support
Franchisees need help throughout the operation period, and the franchisor’s staff can offer support in all respects of the business. The franchisor will also provide ongoing R&D so that the latest products and services will be made available to franchisees. For example, XIMIVOGUE’s franchise system provides various supports related to operating and selling once the franchisee’s store is running. The CS will contact the franchisees at any time as long as they have any problems in the after-sale period. With customized production, XIMIVOGUE has a complete supply chain management system, controls the cost through the unified batch procurement mode. Franchisees are given access to 800 products updated every month.
4. Existing Supplies
If you were to get started a business from scratch, you would have to spend a lot of time finding the suppliers that offer you high-quality products and the best deals. On the contrary, when you buy a franchise, it is often the case that you are given access to suppliers with the products and prices that will allow you to make your business profitable. A case in point is XIMIVOGUE. It maintains stable cooperation with excellent suppliers, such as San Fu, Sassoon, Gialen, Watsons, Muji, etc. It integrates five advantages of resources, namely international fast fashion clothing brand, jewelry chain, chain brand cosmetics, household recreation department store chain and e-commerce platform. More than 5,700 high-quality products are available at a cost-effective price.
Tips for Purchasing a Franchise
1. Conduct extensive market research and choose a promising industry.
2. Do your research about your desired franchise brand, its services, and your potential location, and study the field.
3. Focus on your budget, limit liability with appropriate business structure, and look beyond.
As an aspiring entrepreneur, you are supposed to make the best used of the second half of the year. Choose the right franchise and grow your own business. XIMIVOGUE is an excellent choice for you. It is a successful franchising store that reaches 70 countries and regions across the globe. In this franchising trend, you can seize this opportunity by contacting XIMIVOGUE on their official website.