Taking your first steps in business can be difficult. After all, there are no textbooks that would accurately describe how to launch this or that enterprise, nor any other clear guidance. Until you try, don’t you know? There is an alternative: you can start without risk and with the support of competent specialists if you open your first franchise business.
- Under a single brand
- Knowledge and practice
- Reality planning
- Forecasts and guarantees
Any business requires knowledge. And any knowledge is theoretical to a certain extent. Therefore, having received the baggage of such knowledge and getting down to business, we are always faced with the fact that theory and practice diverge. In business, this is as true as anywhere else. In fact, if you open a shoe store, no matter what business school you graduate from, you will surely come across the fact that your store is a completely individual project, unlike other shoe stores. Yes, it works according to certain laws, but the peculiarities of the assortment, tastes and requests of the target audience, the format of sales – all this together distinguishes your outlet from the general row and makes you look for a special approach that seems impossible to learn in theory.
Under a single brand
Franchising company MasterKicks operates in the field of online sales of sports shoes and knows firsthand how the trade in this industry is conducted. According to the owners of the company, the buyer does not like to buy something that emphasizes his individuality in huge stores, in which the individuality is by definition erased. Even if we are talking about an Internet point, and you are selling not ordinary shoes, but sports shoes, the request remains the same: people want personal attention and advice that will help navigate the large assortment.
In addition, needs differ by region due to climatic differences in different zones. Sneakers that go well in the capital may not be suitable for residents of Sochi or Ulan-Ude. All this together determines the choice of the network brand format: MasterKicks operates under a franchise.
How this scheme works: Buying a franchise gives partners the opportunity to work under a common brand and according to common standards. Thus, the buyer, turning to one or another store of the franchise network, receives a familiar design, ordering scheme, quality assurance. At the same time, a seller who runs a small business works with the buyer – with the approach and attention characteristic of this business line. The goods are purchased from a large supplier at wholesale prices – a luxury that is not available to small entrepreneurs who do not yet have the required volume. This gives the store owner partners the opportunity to offer competitive prices. The profit from the mark-up goes to the franchisee, and the parent company receives monthly royalties for using the brand.
As a result, a wide network of partner points is obtained, in which there is a policy of a common brand, and there is the very grain of small business, which is often lost when a company builds its network on its own branches.
Working under a common brand gives small entrepreneurs the knowledge that they often lack at the start, standards, wholesale prices, and even documents (MasterKicks itself draws up the accompanying documentation for the goods for its franchisees). This eliminates risks and makes a business start as clear and safe as possible for a beginner.
Knowledge and practice
For the aspiring small business entrepreneur, a franchise offers an invaluable opportunity in terms of gaining the right theoretical foundation with the immediate and literal application of theory into practice.
MasterKicks, before starting work, conducts detailed training for its franchisees in all the basics of Internet marketing: future owners of their own stores study how the retail business works on the network, how the store itself is built, and the assortment range is filled. They learn to work with collections of sports shoes, keep track of new items and trends in this area of fashion. They also master advertising tools (franchisees even provide their own MasterKicks advertising office to use advertising), form their first advertising campaigns and open store accounts on social networks under the supervision of teachers.
For sales, the company makes extensive use of traditional Internet platforms: in particular, a catalog in which the franchisee has a personal account. It is convenient to form and serve orders through the catalog; this is a familiar form for those who order via the Internet. The buyer immediately receives legal guarantees here, in addition, he can easily track the parcel that was sent to his address by order. However, in addition to traditional sites, there are a number of innovations in the field on the market that are being actively promoted at the moment. The franchisee will also learn to work with them with the help of MasterKicks. These are, first of all, social networks: Instagram, Vkontakte. As well as marketplaces that are gaining more and more popularity.
A versatile approach to the choice of sales tools allows partners to widely use the capabilities of the Internet network, with lower costs and greater returns to promote their business online. At the same time, the training of the franchisee is based on the example of the very model that he himself will use in his business.
This gives a solid knowledge of theory, inseparable from practice. In addition, in practice, a beginner entrepreneur will also be led by consultants: for this, a specialist is assigned to each partner, who provides support throughout the entire activity of the MasterKicks brand.
When the project is known and predictable, it becomes possible to plan in advance all stages of the development of a new enterprise. The franchise network of operating brand stores gives MasterKicks enough experience to analyze and draw up such a plan.
It is assumed that the franchisee will be trained first. Then the actual work begins. The partner will devote about a month to decorating his store, compiling the desired assortment, starting work with advertising platforms, including in social networks. Then, in about six months of work, he reaches the required income, after which the opening of a second store is envisaged. It is assumed that from that moment on, the businessman is guaranteed to achieve income sufficient for autonomous operation (the store, as a rule, reaches self-sufficiency earlier, however, in order for the business to generate profit sufficient to ensure a decent standard of living for its owner, it takes some time – therefore, at the initial stages, work on your store is often combined with ordinary work for hire, so the transition to your business becomes as soft and comfortable as possible). A year later, according to the plan, the businessman will be able to hire staff who will run his stores.
In principle, from that moment on, you can get out of business yourself and only from time to time control the work of the hired manager. It turns out the so-called passive income, which comes from owning a business in which the person himself is not employed.
Forecasts and guarantees
As they say, everything is good on paper, but the reality is sometimes not so rosy. What if the chosen case turns out to be not to your liking in practice? MasterKicks has provided for this: if sales do not go, the company will return the money to the franchisee, provided that he fulfilled the points of the agreement with the company: in particular, he passed training and opened a store according to MasterKicks standards.
Such a policy minimizes risks and provides a good, initially visible trajectory. You know exactly what you should do, when exactly, what result you will get, and even what to do if you suddenly don’t want to follow this path. In fact, if we assess the same risks in different conditions, we can come to the conclusion that franchising support, at least in some business areas, today seems to be the best option, with almost no alternative.
When you add to this the fact that people who have never owned their own businesses find it difficult to psychologically align themselves with leadership after hiring, then the plan, mentoring support and teamwork that MasterKicks offers are even more valuable. One small thing remains: try to start! After all, it is not for nothing that they say that the beginning is already half the battle!