Tips for Choosing a Business Partner

Confused why your business has not run optimally? Maybe you need the right partner to collaborate with.

Sometimes, we feel able to do everything ourselves. But often, we need help so that all plans can be carried out to the maximum and on target. And yes, one of them is to look for business partners. Two heads will be better than one, right?

Today, besides doing business with relatives, many choose to do business with friends. Typically, this collaboration starts with a casual chat when hanging out, and then it continues to more detailed chat when the plan to open a business is submitted by one of the parties.

The problem is, looking for business partners is not an easy matter. It takes considerable effort to find those who have the same vision as us and those you can hold on to. Here are five things you need to consider when looking for business friends so that a business plan can run smoothly.

Tips for Choosing a Business Friend

# Make Sure Your Vision and Mission Are the Same

From the start of discussing businesses that want to be built together, you must ensure that all involved’s vision and mission are the same. Like wanting to build a house, it must be clear what type of home you want, how much building area is needed, to the design as expected by all residents of the house. You don’t want to imagine a simple one-story house with a large yard, but your partner wants a three-story house with a garage that has a lot of vehicles.

You must do this vision and mission discussion and complete it as soon as possible so as not to disrupt business management, from the financial, operational to marketing aspects. Because, for example, yes, you and your friends want to do the food business. Surely the management is different between the fast-food delivery-based fast food business and the fine dining restaurant business.

# Choose Friends Who Are Serious and Have Passion for Business

Having a serious business friend and having a passion for business is very important. Those who are serious will consider everything from A to Z and are ready to dedicate themselves to the business you are building while passion will make the business that you live more “alive” or not rigid and can continue to innovate. Both of these can ignite the desire to run the business to the maximum. In the end, you and your friends will also benefit because your business is successful and can continue to grow.

# Choose Friends Who Have Special Skills

Don’t just choose a business partner just because “this is my best friend” or “I want to build a business with my best friend.” There’s nothing wrong with doing business with friends. But don’t let that be the reason. The best business friends are those who have special skills that are different from yours and can perfect your business skillset. For example, those of you who have just graduated from hospitality studies have aspirations to open a bed and breakfast concept lodging hotel. To support a business plan, you certainly need a good marketing and financial strategy. You can invite friends who are capable of marketing matters which are interested in your business ideas.

# Choose Friends Who Want to Commit

Business matters are not just starting, spending capital, undergoing, then success, and profits will come just like that. Between undergoing and succeeding, there is an invisible gap, which is a challenge or a problem. If you get through it, of course, your business will start succeeding. But if not, you must be prepared to face failure. The commitment of you and your friends who do business together becomes important to face the challenges and failures that will surely come. Commitment is also important so that you continue to survive even if you are faced with problems.

# Ensure Capital Contribution from the Beginning

There are many types of cooperation if more than one person builds a business. But, what about the capital? Who is it that deposits business capital? How to share the results later? All of these things must be discussed and confirmed before the business starts. If you need a business friend who also contributes to capital, you have to deliver it from the start.

Want to do business but don’t have enough capital? You – alone and with your friends – can follow in the footsteps of many business people who work for people first to raise capital. With good financial planning and salary management, your business capital can be accumulated relatively quickly.

How have you been able to project who your friends can collaborate with to build a business? Make sure the five things above are safe and owned by your chosen friend. Do not just select yes. Because it deals with business, regret will come with a series of material and psychological losses because it involves friendships.

This is the Most Delicious Rice Bowl with Indonesian Taste Curated by Sbobet Players

Rice is among Indonesian food. There are also various kinds of serving techniques, starting from the plate, box, and which is very popular now is a bowl or bowl. White rice with a variety of side dishes in a minimalist plastic bowl is a practical menu that is contemporary and increasingly not a bit popular. A simple dish like rice bowl are highly favor by online gaming players, when you cannot pause games when you are playing, automatically your hand need to be ready in keyboard and mouse. So a simple dish is a must when you want to eat while playing online gambling games, or when you register to daftar agen sbobet terpercaya that gives all England football tournament from league two to English Premier League.

Want to know where you can try it? Here it is, the complete list makes you.

Nona Judes

This Prilly Latuconsina diner also has a rice bowl package menu equivalent to Rp. 25,000 – with a variety of unique side dishes. One of the best sellers and you must taste a rice bowl filled with white rice, kecombrang squid, and Mustafa potatoes. The portions are just right, and the squid is cooked to the perfect maturity thoroughly with its fresh and spicy chili seasoning. So even with crispy and tasty potatoes. Suitable for your lunch menu.


Seeing the name, of course you know, what are the peculiarities of the rice bowl menus here? Yup, a portion of white rice with side dishes complete with fresh chili sauce priced from Rp. 30,000 to Rp. 35,000. You can choose whether you want it to be paired with chicken, Dori, squid, or lungs. The name is chili sauce, so you are free to choose the level of spiciness that matches your tastes from 1-5. Practical and delicious!

Ayam Jerit

Again, this modern culinary innovation comes from Titi Kamal’s outlet. There are three rice bowl menus with special side dishes that are ready for you to eat like green chili squid, cakalang scream, and chicken scream. A portion is priced at an affordable price, which is only Rp. 25,000. You can enjoy warm white rice with a side dish with a choice of colorful stir-fried vegetables and fresh cucumber that creates an increasingly beautiful appearance. The portions are just right and practical, suitable for lunch on the road.

Dapur Asix

This 24-hour open place is a direct hit because it has 18 rice bowls. Uniquely, the menus here bring home-cooked Indonesian specialties that really fit on the tongue. There was a lung lung, green chili tongue, jengkol balado, grandmother’s bitter melon, anchovy beans, and cake pete. In addition to rice and side dishes that are changed with the best recipe, in one serving bowl is also equipped with eggs, cucumber eyes, and chili sauce. About the price, of course, fits in the bag, which starts from Rp. 22,000 up to Rp. 35,000.

Rice Bowl ToeWans

The latest innovation from the familiar pepper rice shop is the rice bowl toe wans. The menu is also very diverse, ranging from baby fish chili green, green chili chicken, savory, spicy fried chicken skin, and stir-fried beef tongue. It looks so beautiful and delicious because each serving bowl is equipped with boiled eggs and a vegetable salad consisting of lettuce, cabbage, carrots, tomatoes, and sweet corn thoroughly with mayonnaise.

Franchise Business Benefits That You Can Get Without Hassle

Franchise business opportunities indeed seem to be the most developed once in Indonesia, especially for the food franchise. Investments in the culinary sector are still the hosts of investors who are interested in this partnership system.

The great prospects found in the food business are never out of date. This creates the majority of people more interested in investing the capital they have to partner with local and foreign companies that run so many franchises.

Some partnerships are opened with a value of billions of rupiah, but there are also those who at affordable prices use a cart, for example. And it turns out that of the many partnerships offered, the cart-style franchise system does indeed provide its charm for the community, to the point that not a few all franchise businesses successfully hook hundreds of partners with the cart-style franchise business.

Besides food cart franchise business that rising in the early 2018, online p2p transaction also make a movement. One of the biggest leap is came from online gambling business. With only IDR 30 million rupiah, you can start your own online gambling website poker online terbaru and the return will be depends on your digital marketing strategy. It’s the same with the food cart kind of business.

Here are the advantages of the cart-style food franchise business that you need to know:

Very easy to run

It is guaranteed that the business preparation of the cart franchise business is indeed effortless to run. In general, this cart-style partnership merely requires a strategic place of business, such as in schools, playgrounds, and so on.

As for the equipment and raw materials, everything is supported by the franchisor. In addition to preparing a business location, if you need help from other workers, you can look for it before you start this franchise business.

Offered cheaply

A cart-style franchise when it’s not a little offered with the most minimal price, aka cheap. With the cart system, the partners certainly do not need a significant effort, so the rental fees are not too expensive like a franchise that is worth billions in general.

Besides that, actually for the franchise business, this cart does not require a lot of labor, so you can only employ two or even one workers. So in general, each of our months will not cost too many operational costs.

Quick return on investment

Usually, all franchisors offer a cart-style partnership with investments ranging from IDR 2 million to dozens of IDR. Also, the partnership system returns its capital reasonably quickly; on average, all franchisors provide guarantees to all partners with a term of return on investment is not enough for one year.

No wonder that not a few people are interested in this cart-style partnership, because the benefits offered are quite tempting.

So if we are interested in a franchise business opportunity, why don’t you try it?

The Best Selling Variant for Beverage Businesses Inside Casino Places

The business world promises not a little profit for us. More than office work as an employee, doing business can give you a maximum dividend. The type of business you can do at this time is increasingly diverse. One of the business fields that you can run is an interesting and contemporary beverage business which is currently booming in the market.

Why must you drink products? There are not a few other types of products that you can business, but indeed beverage products are the best business option for you. Drink products are effortless to create and create. This product is also very easy to market because all people need it.

The Arrival of Millennial in Gambling World Makes Casino Places Revamp Their Menu

With the rise of technology from Millennial age makes entertainment places must participate in the modification of their menu. Gambling or Casino company is not an exception, although most of the online betting transaction nowadays is now online, many peoples still eager to come to the building where they can play poker or sic bo on living with their friends and feel the environment of a casino.

Attractive beverage business is the right choice for those of you who want to run a small business with a small amount of capital. This business requires money that is not insignificant but can bring abundant dividends. Then, what kind of beverage products can you sell?

Talking about a unique beverage business, of course, you have to assume a unique drink like what would be liked by the community. You must pursue interesting beverage products that are not o nly delicious but also refreshing. Also, you have to consider the cost of production. If you can market attractive and cheap drinks, it will be much better. Here are a few examples of interesting drinks that you can inspire:

1. Chocolate drink

The unique best-selling beverage is chocolate drink. If we often eat chocolate bars, this time you will drink delicious chocolate. Chocolate drinks can be served warm and cold, but now there are not a few chocolate ice products that are popular with the wider community.

Chocolate ice drinks can be a promising exciting beverage business opportunity. Moreover, this drink is often also served with a combination of other ingredients such as coffee or milk, which makes it taste more delicious. Also, there are various choices of toppings that you can add to the chocolate ice that you sell.

2. Cappuccino drinks

Cappuccino is among the favorite types of drinks, not a few people. The taste of cappuccino does have characteristics and is not a little liked. There is one type of satisfying drink with cappuccino flavor, which is the best selling in the market, namely ice cappuccino cincau. As the name implies, this drink is a cappuccino flavored drink that is given an extra piece of grass jelly.

Cappuccino beverage products have been known as the most attractive beverage products for all people from many circles and many ages. Moreover, this beverage product is also available in many interesting taste choices.

3. Bubble Drinks

Bubble or bubble drink is the latest type of beverage available in many flavors. This beverage product is made from a variety of flavored drinks which are sprinkled with delicious and fresh bubble sprinkles. Regular bubble drinks are served cold and marketed at the most affordable prices.

4. Mango drinks

Mango fruit is a type of fruit that is not little liked by the people of Indonesia. Mango is not only delicious to be eaten directly but can also be enjoyed in a beverage format. Mango ice is one of the interesting beverage products that are currently popular in the community.

Mango ice drinks are a typical Thai drink which is often called Mango Thai. This Thai Mango is not a favorite, not only because it tastes good but also because it is the most refreshing and addictive.

5. Durian drinks

Besides the mango, durian fruit can also be served in a tasty drink format. Durian ice products are beverage products that are not the least favored, especially by all durian fans.

That was the number of choices of attractive beverage products that you can make an inspiration to start a business. By choosing the right product, the business of interesting drinks that you run can generate maximum dividends.

These are The 4 Most Popular Franchises in The United States, Can Asia Follow It?

The franchise partnership business has attracted not a few entrepreneurs, especially all young entrepreneurs who want to open a business but do not have experience in building a stable business. In not a few countries, the franchise business has overgrown, belonging to the United States, which is one of the warehouses of the world franchise.

Franchisees, both in the form of large companies and small companies continue to grow from year to year. And of the few franchises in the United States, four franchise options are not in the least attractive to all beginner business people. What are the most popular franchises in the land of Uncle Sam? This is the description.

7-Eleven Inc. Franchise

For Indonesian people who live in urban areas, the brand of Seven Eleven may not be a foreign matter anymore. 7-Eleven Incorporation is a supermarket or department store brand, a kind of Alfamart and Indomaret. This company has been established since 1927 with the initial name Tote ‘. Then in 1946, the small shop began operating from 7 am to 11 pm, to the point that its name was changed to 7-Eleven. For joining 7-Eleven, the total investment needed is between 30 thousand to 1.5 million dollars. As of the end of 2012, 7-Eleven department stores stood in a total of 47,298 outlets.

Subway Franchising

Subway is a company that offers healthy culinary offerings and fresh, fast food substitutes. Founded by Fred DeLuca in 1965 under the name Pete ‘s Super Submarine, the company was later renamed Subway in 1974 when franchised by public use. Now the number of partner outlets reaches 38,965, and the investment funds needed are around 85,000-260,000 dollars.

Hampton Hotels Franchise

Founded in 1983, Hampton Hotels is a company that spends middle to upper classrooms. In 1984, Hampton Hotels worked on a business strategy by franchising its business for the public. Until now, Hampton Hotels has collaborated with more than 1,900 franchises in all the world. The total investment needed to join this franchise is 3.7 – 13.5 million dollars.

Supercuts Franchise

Supercut is a company that focuses on hairdressing (salon). One supercut was built in 1975 by Frank Emmett & Geoffrey Rappaport in Albany – California. After being franchised in 1979, Supercuts now partners with more than 1,200 franchisees with 2,301 outlets in all of America and Canada. The amount of investment needed is 100 thousand to 200 thousand US dollars.

In addition to these five franchises, a number of franchises that are also popular in Uncle Sam’s country are Anytime Fitness (fitness center business), Servpro (insurance and protection business) Denny’s Inc. (food delivery business), McDonald’s (fast food business), and Pizza Hut Inc. (pizza culinary business).

Updated for 2019: Currently there is a new type of business that popular in the US but within the form of online media. It’s online casino business, where franchisee also called agen sbobet terpercaya can have their website to promote the casino games. The franchisor will get a commission based on the franchise’s revenue. It became a trend due to the increasing market and low cost because no need substantial equity in the first place. However, all franchisee must have a license to open their website.

Understand First How to Determine The Franchise Fee and Royalty Fee

Starting or making a franchise, a franchise fee and royalty fee are needed. How does the technique assess the franchise fee and royalty fees? This article will submit information and understanding of these two fees.

Costs in a Franchise System

Franchise or what is known as a franchise business is a business where the second party (franchisee or franchisee) finds the right of the first party (franchisor or franchisor) to carry out a business with a name or brand and system and formalities that have been decided before with the term – certain times. In this franchise business, there are two types of fees, franchise fees, and royalty fees.

A franchisor can charge between two types of fees or both. The imposition of this fee will be determined at the start of the franchise agreement.

Franchise Fee

Franchisee fee is a fee that must be paid so that someone can operate a franchise from a company that is more and feel the benefits of the franchise.
This fee can be felt as the cost of purchasing franchise rights or the initial cost of a franchise.

The franchise rights can be used for specific periods and the period of these periods has been determined at the beginning of the agreement.

In other words, the franchise fee is paid for the use of rights and operational guidelines around the franchise period.

Royalty Fee

The royalty fee is the fee paid by the franchise for the franchise during the franchise period. This fee is a contribution fee for the results of the franchisee’s income. Payment of this royalty fee is often made before a specific date, and this date is determined according to discussions from both parties. (Read more: This is The Secret of Bubble Drink Franchise Business Success)

In general, this royalty fee is a percentage of the income received by the franchise (excluding taxes).

This percentage is determined in 2 types, there are flat, and some are progressive. In a flat percentage system, this means that royalty fees are paid in a fixed percentage and do not change regardless of income earned. Whereas in the progressive percentage system, the higher the profit obtained, the higher the percentage charged. In this second type, the limit will be determined at least sales turnover.

This royalty fee is not just an extra profit for the franchisor. This fee is used for many needs, for example:

  • Guidance or training to sustain franchise operations.
  • Implementation of franchise audits and business assessments.
  • Business research and development, for example, marketing strategies and brand management.

Determination of Franchise Fee and Royalty Fee

The fees charged by the franchisor must not be arbitrary. If the costs are too significant, then there will be no interested franchisees and businesses cannot develop. Conversely, if the fees charged are too low, the franchisor will lose money and lose the cost of developing the business. Therefore, some approaches are needed to assess the number of costs that should be.

# Market Oriented

As the name implies, this technique assesses the franchise fee and royalty through the market approach. Every industry has a different level of costs; for example, the cost of franchising the food industry will probably be cheaper compared to the retail product franchise. For this reason, the determination of franchise prices must be calculated using data issued by trusted institutions in similar industries.

By understanding the average franchise costs of similar industries, you will be easier to sell your franchise business.

This method is an easy technique, but it is quite risky. The reason is the franchise business that we offer certainly has a system and reputation that is the opposite of your competitors. Whether you are a new player or an old player in the franchise world, this system will often give up the level of costs that are too low or too high for your franchise.

# Customer Oriented

The second method of calculation focuses on the purchasing power of the customer. With customers’ purchasing power getting more significant, the franchise fee and royalty fee will be more expensive. Usually, these differences occur because of differences in regions, like the capital and suburbs or shopping center areas.

# Cost Oriented

This method of calculation is a very detailed and thorough method. With this technique, the franchise fee and royalty fee are calculated by including all costs required by the franchisor to develop the franchise system.

In enforcing a franchise business, the following costs are needed:

  • Survey the franchise place.
  • Design layouts (new stores or franchise outlets).
  • Initial inventory set.
  • Sourcing (search suppliers) for the initial stock.
  • Training (guidance and discussion) for the preparation of a business plan.
  • Search for human resources (employees).

Exceptions to the Franchise Fee and Royalty Fee

Franchise fees and royalty fees for a franchise recipient try to be the same as other franchises, with the criteria that the business situation is similar. This aims to avoid internal problems in the franchise system. However, this cost can change in some conditions.

Here are some examples of situations where franchise fees can change.

# Development of Multiple Units (Multi-Unit Development)

When the franchisee agrees to open some franchises at once, then often the franchisor will give up the franchise fee. For example franchise fees for 1 unit are IDR 50 million per unit to IDR 45 million per unit for five units at a time.

This discount is an incentive for franchisees because it opens more than 1 unit. It is not even a franchise fee, but franchise recipients who develop not a few units often pay a lower royalty fee.

# Transfer Fee (Transfer Fee)

Franchise fees will be reduced if the second party (franchisee) sells its franchise to a third party. Third parties do not need to fully pay franchise fees because the franchise is transferred from the second party to a third party.

# Founders Club Age

If a franchise business is still young, it can be big, and they will reduce franchise costs to make it look more attractive compared to the different franchise businesses that have developed. For example, franchise fees will be reduced to 5 first franchisees or 10 first units. Of course, this rule will be explained and explained to avoid misunderstandings between other franchisees.

Determine Franchise Costs Properly

In assessing franchise costs, franchisees must be able to consider the benefits for both parties.
The franchisor must ensure that the franchise system and franchisee find the desired financial benefits. Therefore, it is very urgent to assess the initial costs of the franchise accurately.

10 Ways to Start the Best-Selling Franchise Business! Proven Successful

Who is not familiar with the franchise business? This business has grown since 1731 in Charleston, South Carolina. A franchise is a business bond in which parties are given the freedom to exercise rights in the supply and use of goods or services owned by other parties.

The franchisor is also called the franchisor, and the recipient is called the franchise. Franchise business is often done by exchanging money with agreements to run a business related in a certain period.

This business is a reasonably reasonable business opportunity, especially for all of you beginner business people. However, even starting a newbie friendly business does not mean anti-failure. Of course, this business also has a risk of failure that is not small. Curious about the cause of this franchise business failure? Let’s see together:

Causes of Franchise Business Failure as a Franchisor

The franchise business itself is an investment that is worth considering. Although there is a risk that there is no one who has the interest to buy the franchise, but as a risk taker, a franchisor will still move forward.

The next step is to create a franchise system. Propose, collaborate with experienced personnel such as accountants, lawyers, financial consultants, and franchise business designers.

However, not a few business people who are not successful in this one business because they have wrong or wrong perceptions about it. Franchisors and franchisees can witness this perception.

The following are many causes of franchise business failure due to the wrong perception of all franchisors. Let’s find out some of these false perceptions so that you don’t adhere to the same opinion:

  • Selling a franchise at a high price
  • Leave the business down
  • Leave the new business open

Causes of Franchise Business Failure as a Franchisee

Aside from being a franchisor, we can also become franchisees in the franchise business. The initial step is to explore a franchise business that according to information from you is worth developing.

If we have pursued a suitable franchise business, the next step is to sign a franchise agreement. But it turns out this business is not a franchise business guarantee; it is a positive step towards success. Both as a franchisor and franchisee, it requires commitment, definition and mutually beneficial cooperation to the extent that the business can run smoothly.

Given that the experience is expensive, my financial will also review many causes of this business failure from the franchise.

Let’s look first at many causes for the failure of the franchise business which is the experience of all previous business people. Thus you can avoid many things as follows when doing franchise business:

  • Choosing a franchise business with a franchise fee or high royalty
  • Selecting a franchise business with expensive raw material agreements
  • Lack of access to good funding
  • Maximize marketing with many locations
  • Limited creativity
  • The good news is that my Financial includes ten techniques to start a franchise business, to the extent that you don’t need to repeat the same mistake.
  • Previously, have we separated personal finance and business results? It is crucial that you know, blending individual money and business money can be dominantly bad for your business growth!

10 Ways to Start a Best-Selling Franchise Business

The franchise business can be opened either as a franchisee or franchisor. As a franchisor, you need to develop systems and businesses to be known and accepted by the community.

Whereas as a franchise, you need to be selective and thorough in making a business purchase, then living it so you can make a profit. So, you want to start a franchise business as a franchisor or franchisee? Whatever your options are, consider these ten techniques to start a business:

# Franchisor: Prepare a Good System

As previously stated, the inheritance of the business that has just begun is one of the causes of the failure of this franchise business from franchisors.

Why is that?

Of course, because a new business has not been prepared in such a way as to be able to run, primarily if beginner businesspeople who usually become franchisees run it. A system that has been proven to run well, of course, minimizes errors and errors, to the extent that you do not need to feel the loss that is generally handled by beginner business people.

Franchise business is known as a newbie friendly because generally this business has many advantages, and one of them is there is a transparent system, to the extent that the franchise follow the trail. That is, there must be a system that becomes a guide in running a business, whether anyone runs it. So, not infrequently, make sure the system is running well before we inherit it.

# Franchisor: Develop a Marketing Plan

Another advantage of the franchise business is that the business is not opened from scratch, often this business has a name and is well known to the public. This means that there is a mature marketing plan here that you can share or socialize for franchisees.

Not infrequently the franchisor provides support for this marketing matter for the franchise, to the extent that marketing can continue and never recede. So it can be decided that it is crucial for a franchisor to assemble a good marketing plan to the extent that his business can continue to grow and be worthy of the franchise.

# Franchisors: Make Realistic Proposals

You could say in the franchise business, franchisees and franchisors are one team. The franchise’s success in running a business also supports the development of the franchisor’s franchise brand. Thus, it is necessary to develop relationships and win-win cooperation arrangements.

Only with this technique will we see that all parties (franchisors, franchisees, consumers, employees) feel the positive effects. But I am still created confused sometimes with the rise of fraud based on this franchise. What cheating is meant?

One of them is where the franchisor works on oversell. That is, they give up the artificial lure, so that prospective business people are interested in buying franchises. But this matter is not wise according to the statement from my view. As a good franchisor, it is only natural that you create a reasonable and honest business proposal. Thus, the franchise can also prepare to step on the field.

# Franchisor: Ensuring Product Quality

After World War II, there was a provision called the “Lanham Act” which allows the distribution of brands as long as the brands control the quality of products and services provided. This brought a significant change to the American economy at that time.


Of course, because the franchise system allows consistency in the quality of products and services for consumers, no matter where they buy it. Who has the business or who is the manager is not an essential business for consumers, but the products and services that influence customer experience?

The ability of the franchise system to provide a high level of satisfaction for consumers, no matter where they are or the owner because there is a guarantee of the same quality will be channeled to consumers.

So, we need to specialize in quality control, no matter how much our business develops. This is one of the necessities of the franchisor if its business continues to grow until the following years.

# Franchisee: Careful in Choosing

Generally, not a few beginner businesspeople who will choose a franchise rather than fostering their own business from scratch. The reason is, of course, because the franchise business has been proven to work.

But is that true?

Be careful when choosing a franchise business because there are still not a few scams that are under the guise of a franchise business. The point is to look for information that is not just words but is accompanied by evidence. You can also get information that is already trusted, for example, from colleagues or relatives who have purchased the franchise.

Thus we know which franchise business does indeed have a good reputation and is guaranteed. Don’t be easily tempted by a sweet marketing franchise!

# Franchise: Don’t be tempted by low prices

Besides not being induced by the sweet mouth of a marketing franchise, we are also advised not to be easily tempted to buy a franchise business solely because of its low price. Not that a right franchise is not infrequently expensive, but here you must know the proposal well before assessing whether you will benefit or make a fortune.

You need to understand clearly why the business is offered at a low price, and it should not be up to low prices; in other words, management systems, training, and bad promotions. In conclusion, if you want to purchase a franchise, you should never choose a franchise just because it is priced at the lowest price, but must also understand the quality.

# Franchisee: Determine the Purpose of a Business Franchise

In starting a business, it is very urgent to have a goal. Why? Because the goal will be our map in walking, and this destination will also be the spirit of the times when it is difficult.

Steven Covey in his book Seven Habits even reveals that judging destinations are one of the norms that can bring success. It doesn’t matter if you want to open a franchise business as a full-time activity, or just as a sideline: determine your destination!

# Franchise: Don’t Want Instant

Our advice, we should never choose to start a business caused by getting money alone. This is due to the risk of profit and loss in doing business. There is a time to feel the loss and time for big profits.

So, even though you already have proper brand recognition (in other words the business has been known to the public to have a group of consumers who have an interest in buying the product), it should not be a franchise business as an instant stepping stone to wealth and success. Everything, classified as a franchise business requires process, patience, and hard work.

Those who succeed in a moment do not necessarily succeed in the future, so it is urgent to go through the process according to your skills to learn the gaps and solutions to continue to fix the business to be better.

# Franchisees: Planning for Funding

If you have assessed the franchise business that you want, then you have to start taking into account how little it is that we have to prepare to run the business.

The franchise business is undoubtedly a variety of those that require little capital to the most magnificent capital. You need to prepare locations, equipment, and inventory to start a franchise business.

In the franchise business, you usually also need to carry out a franchise fee and project and advertising fees in place of the training, procedures and marketing costs that have been prepared by the franchisor. The question is where is the money from?

Yes, you need to plan to fund correctly. Here are some considerations for funding sources:

  • Some franchisors (franchise providers) generally help franchisees (franchise recipients) in matters of financing by collaborating with loan lending agents to help franchisees get funds to start a franchise business.
  • Franchising financing company is a company engaged in franchising funding with the technique of finding borrowers and suitable lenders then helping both parties to reach an agreement.
  • Traditional loans, namely loans from banks.
  • Small Business Administration (SBA) funding loans or so-called small business administration is one of the widespread franchise funding.

Of the many funding sources that have been recited before, you can maximize the utility by combining many loans to suit your needs.

Don’t rely on just one loan, but you can mix and match to produce a tiny combination of losses and risks.

If we are still in doubt, ask your financial planner directly before starting a franchise business, like for example my financials who are often ready to help you.

# Franchisee: Get to know the chosen franchise

As previously stated, there are still not a few franchise businesses that lure instant spectacular successes instantly. Unfortunately, this business is not specified.
That is, you need to recognize outside in the business that you are going to live. Do not arbitrarily choose a runny company.

Some tips on choosing a franchise business are as follows:

  • Know your reputation and business trip carefully
  • Look for people who already have experience
  • When starting, you may not directly select a big business that requires high costs and not a few employees
  • Find out whether the franchise is being punished by law or not, and often avoid businesses that have problems with the law

Prove It Yourself: Become a Successful Franchisor or Franchisee!

In business, there must be so many problems and obstacles, as is the case with the franchise business. There has never been a 100% success guarantee in the name of BUSINESS.

But we can go through all of that if you concentrate and motivate it. Remember a good business may not work overnight, but success can be reached at a slow but sure stage. We are confident that we can also become successful franchise businessmen if we adopt an unyielding attitude and slam and smart!