Are you looking for an International or well established franchise opportunity but not sure about the pros and cons of it. Well, having a Master Franchise is a good deal. This blog offers insight into the advantages of Master Franchising. To discuss and understand the benefits of master franchising, you must first know what the word masters franchising actually mean and how it is going to beneficial to the investors.
A master franchise is a franchise arrangement in which the master franchisor, who owns the franchise brand, gives a third party the authority to seek out new franchisees in a particular region. In return, the other party often pays a price and consents to shoulder some or the entire burden of assisting and guiding prospective franchisees in their region. They are frequently referred to as sub-franchisors because a master franchisee’s job within their region resembles that of a franchisor.
“As of 2020, according to an in-depth survey of franchisors based in the United States, approximately 20% of franchisors use master franchising as an international growth strategy,” shares Mohit Verma, Founder – Franchise Trade.
What are the advantages of MASTER FRANCHISING?
More Profit:
You might make significant earnings from it. You will receive a sizeable portion of the initial franchise costs and monthly royalty fees while you are busy selecting, educating, and supporting your franchisees.
Assured Business Model:
As a master franchisee you would receive a viable franchise package of a well-known brand, which is already running successfully. You won’t need to take any risks or reinvent the wheel because you’ll be working with an established system. Since everything will already be set up, all you have to do is step onto the ground.
Added Extra Income:
You could make more money if you were able to provide more services like bookkeeping, accounting, customer service, and advice. Although your franchise fee and royalty fee % will make up the majority of your income, you can also make money through training and certification.
Combat Competition:
Most franchisors would give the Master Franchisee a restricted area to operate in. You and the franchisees you bring on would be the only people allowed in the zone you are given. This makes it easier to avoid competing with another franchisee that uses the same brand as you. This increases the likelihood of growth and financial success.
Rule your Business:
As the intermediary between a franchisor and a franchisee, you will have complete control over your system as a master franchisee. In contrast to being a manager or executive in a firm, you will be your own boss even though you will be responsible for building and increasing your business. You have the authority to manage the franchisees in your region.
Select Qualified Team:
You can hire capable individuals who won’t place too much pressure on you, as your sub- franchisees, to manage the firm on their own. As a result, you would be free to focus on other tasks rather than worrying about how your company is doing.
Small Staff to manage:
You will have a very small staff to manage, and they will all be the franchisees you hire. All you will need to do is direct them as they improve and grow the company. You can concentrate on this primary duty and be successful at it for a long time with the assistance of the franchise organization.
Additionally, you will be responsible for managing a small number of additional workers, including a trainer, support staff, and possibly a salesperson who will promote your franchise.
Conclusion
As a master franchise, your primary responsibility would be to grow your company and your territory. These are some points to help you for more details you can contact Franchise Trade advisors by phone, and they can advise you on the greatest & newest franchise opportunities in India.