Why Franchise?
The Benefits and Responsibilities of Franchise Ownership
- A franchise enables you, the investor or franchisee, to operate a business.
- You pay a franchise fee and you get a format or system developed by the company (franchisor), the right to use the franchisor’s name for a limited time, and assistance. For example, the franchisor may provide you with help in finding a location for your outlet; initial training and an operating manual; and advice on management, marketing, or personnel. The franchisor may provide support through periodic newsletters, a toll‐free telephone number, a website, or scheduled workshops or seminars.
- Buying a franchise may reduce your investment risk by enabling you to associate with an established company. For that you have to pay the franchise fee. You also will have other costs: for example, you may be required to give up significant control over your business while you take on contractual obligations with the franchisor.
II. Before Being a Franchise You have to consider following Points
Purchasing a franchise is like any other investment: it comes with risk. When you think about The NOTION LIFE STYLE franchise, think about the demand for the products or services it offers, competitors that offer similar products or services.
Demand
- There is a demand for the franchisor’s products or services in your community.
- It not seasonal it’s ever‐ green.
- The product or service generates repeat business.
Competition
The level of competition—nationally, regionally How many franchised and company‐owned outlets are in your area? (No other Franchisee in 30 KM Radius in Metros In B grade City its only one per city)
Does the franchise sell products or services that are easily available online or through a catalog?
Ans :NO
How many competing companies sell similar products or services? Are they well‐established or widely recognized by name in your community? Do they offer a similar product at a similar price?
Ans: NO.
Your Ability to Operate the Business
- Sometimes, franchise systems fail. What will happen to your business if the franchisor closes up shop?
- Will you need the franchisor’s ongoing training, advertising, or other help to succeed?
- Will you have access to the same suppliers?
- Could you conduct the business alone if you have to cut costs or lay anyone off?
- Before you invest in a particular franchise system, think about how much money you have to invest, your abilities, and your goals. Be brutally honest.
Name Recognition
Buying a franchise gives you the right to associate with the company’s name or brand. The more widely recognized the name, the more likely it is to draw in customers.
- •Name and brand recognition for the company and its product or service : Franchisee Brand : Notion Lifestyle (Creative Solutions for your Life )
- The company has a registered trademark Notion Lifestyle and Notion Academy.
Franchisor’s Experience
Notion Lifestyle franchisors operate well‐established companies with more than 10 years of experience both in selling goods or services and managing a franchise system franchisors started by operating their own business. The franchisor has managed a franchise system for last 4 Years. The franchisor has enough expertise to make you feel comfortable.
Growth
The Notion Lifestyle is growing franchise system increasing the NOTION Lifestyle name and brand recognition and enable you to attract customers. Indeed, a company that grows too quickly may not be able to support its franchisees with the support services it promises them. That’s why Notion have blueprint plant of Growth for PAN INDIA.
The All‐Important Disclosure
- The franchisor been in business for last 4 Years?
- 5 franchised outlets exist. They are at PUNE KOLHAPUR SANGLI THANE SHIMOGA
- Initial franchise fee : Rs. 2,00,000/‐ (Non Refundable)
- What additional start‐up costs : Around Rs. 18,00,000/‐
- Continuing royalty payments : 70 % Franchisee : Franchiser 30%
- Management, technical, and other support (Time to Time Training onsite or at HO)