The first time I came across the word franchise were from many years back while I was graduating from school. I only have very minimum and limited knowledge about franchise. So happen I got to know there is a seminar or speech in Penang Equatorial hotel on 4-Jan-2014.
Something about Franchise Seminar
This is a full day seminar started on 8:30 morning till 5:00 afternoon, entrance fee is RM150 include tea and buffet lunch. There are about 300 audience gather in the hall listen for this awesome seminar.
This is not a former course about franchise but more on knowledge sharing and brief introduction giving general introduction. I am not sure if I should call this a seminar or speech, but let us use the word seminar through out this article. You know what I mean, I guess.
There are 4 speakers being invited to give speech for this seminar, they are
- Mr. Ken Feng. Mr. Ken Feng is from Taiwan, and he is the “lecturer” who give lecture and sharing knowledge on developing franchise business.
- Mr. YC Wang. Mr. Wang used to be the GM for Kenny Roger and he also the one who tweaking the company PL sheet from loss to gain. He set up his own franchise brand, Station 1. I should check it out someday.
- Mr. Khaw. Mr. Khaw is lawyers who sharing with us what are the precaution and copyright concern while setting up our own franchise brand. He also remind us how to protect our own brand and logo.
- Mr. Lawrence Liew, the founder for MaryBrown. He shared with us how he started the business 30 years ago in Johor Bahru, the challenge he face during expanded to overseas and more interesting is how he extended his business to overseas especially in Arabian country.
Highlight for Franchise Seminar
a) Business development. A B2C business development road map is from traditional shop move to multiple chain shop than moving to franchise business. Traditional shop à Chain Shop à Franchise.
b) While we are developing a business, at the same time we should work on establish our own brand. We could only retain loyalty customer with a reputable brand. Buildings brand not only a logo but also an identification and business philosophy we deliver to customer.
c) Franchise is about providing a consistent identification, system/procedure and services to customer.
d) In order to establish a successful franchise business, we need to establish our own workforce, franchise proposal, manual and training guideline.
e) Franchisor needs to be prepared before they go out for recruiting or promoting franchise business.
f) Franchise is about a business about sharing the brand, business model. All the business should be replicated with all the support from franchisor.
g) A fair ROI for a franchise business should be 1.5 – 2 years.
h) The franchisee should have 90% success rate for joining a franchise business and follow their working procedure.
This is an interesting franchise seminar which helping me clear out some doubt about this business model. The franchise information is scattering around yet follows a sequential work flow. Even all the speakers strongly promote franchise should be the business model in this environment however I do not think it is suitable for all.
I am listing out some businesses which I think it could work for franchise model:
- F&B business
- Retail shop. Such as photocopy shop, unique electrical appliances shop, etc.