Franchise Development System

 

For companies which are ready to take it up the level with the right management, funding and infrastructure,  SolCredence offers the platform to help in developing system with good franchise practices that leads to increased market share and ultimately, enhanced profitability.

Our franchise consultancy service covers a few phases which  focus on solutions for operational management, financial management and other technical aspects.

(a) Pre-Franchise Phase

Analysis of company’s significant business aspects pertaining to the envisioned franchise concept i.e. existing operational system, readiness of supply chain, competitive strategies, SWOT analysis etc

- Identify and customize feasible work programme which best suited different business environment, resources and budget requirements

- Planning & Developing activities which include:

  • establish corporate brand image
  • consideration of franchise legal matters and documents
  • registration of trademarks in securing intellectual property rights of products/services
  • setting up documentations for sales & marketing, operations and financial manuals & procedures
  • define administrative, support management and financial systems
  • source for relevant training programmes
  • develop franchise business marketing collaterals i.e. brochures

(b) Post-Franchise Phase

- Building franchise network -

  • prospect for suitable candidates & recruit qualified franchisees
  • franchise approval process
  • franchise agreeement

- Managing franchise relations – training/coaching/mentoring, support management system, two-way communication approach

(c) Audit Phase

This is important phase to monitor and control franchise operational and financial aspects compliance in ensuring brand image is protected.  A properly tailored and well-designed audit program can be beneficial to both the franchisor and franchisees.  Audit scope revolves around:

  • observation of operational procedures and conformance to pre-set quality
  • verification of point-of-sales records & reporting
  • examining financial records
  • review of staff conduct and performance

Audit results will help identify target areas of weaknesses and prevent further losses due to non-compliance in terms of labour productivity, lack of stock management, fund misappropriation, budget overrun, improper operating expenses, poor internal controls.  Implementation of improvement initiatives is crucial to enhance system compliance and integrity which ultimately lead to higher revenue growth.

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