5 Tricks of Running Franchising Business

“Although, it is a belief that franchising businesses are easier to handle but it must be noted that franchising business is not inside the capabilities of everyone until or unless they are familiar to the tricks to run a franchising business” elaborated by studying the experience of leading franchise company Mos utility pvt. Ltd, prominently known as “MultilinkWorld“. This franchise business offers variety of franchising opportunities and business model as well. Keeping an eye on performance of MultilinkWorld, its heads suggested various tricks of running franchising business.

1) Enlightened Concept of Business:- 

As a franchisor it is significant for franchisor to have a very clear view of concept of hisbusiness because franchisor cannot depend on franchisees until or unless he knows business from all the four sides either inside or outside. It is the duty of franchisor to provide operating directions to franchisees in understandable manner.

2) Choosing Suitable Franchisees:- 

Franchisees play huge role in running franchising business because franchisees are the one who handle or trading activities of the business. Therefore, Franchisor must recruit franchisees with care and capable franchisees and also, franchisor must choose those franchisees should be entrepreneurial minded.

3) Investment in Training:-  

Training is essential part of franchising business as to understand business properly franchisees are given training so that they know what they have to do at daily basis, what are it’s daily operations. Therefore, franchising company must invest in training of franchisees.

4) Maintain Control:-  

Franchisors are advised to keep tight controls as it is essential to enlightening business operations along with proven marketing plan which describes other exercising activities or options of franchisees like accounting practices, personnel policies or stimulation campaigns.

5) Systematize for Emulation:- 

Emulation refers to “effort to match“. However, franchisor should study and do spend time in documenting the systems which established accomplishment for your franchisees and emulate because franchisor should know that they do not sell their product or services but their system for success.

These were the various tricks of running a franchising company or business and lead it to the level of success. Mos utility pvt Ltd Recommends following these tricks, if urging for development and success of business. Franchisor must maintain good relation with its franchisees as they are essential part of the business.

5 challenges of Franchising

Franchising plays an essential role in economy of the country. Although, franchise business provides loads of opportunities to their agents so that they don’t need to be fully dependent on their full time jobs for every other expense but there are many challenges one needs to face while franchising. MultilinkWorld is one of the ranked franchise business among the country and has been operating over 20,000 agents all over India. MultilinkWorld reviewed various franchising challenges and they are:

1) Operating Within the System

It is essential in franchising to function according to the given directions and work within the system otherwise franchising will frustrate you out because without following or working out of the system may cause franchise and business a great loss. There are lesser areas in franchising where one can be creative.

2) Exercising With the Franchiser

Franchising can be considered as a lawful long-term binding relationship as the relationship of franchisee and franchisor is essential in franchise business and is the root of business. In order to exercise positively with franchisor, franchisees need to known franchisor and strengthening bond with franchisor is the challenge.

3) The Risk

In franchise business the final risk lies in the hands of franchisees as franchisees plays essential role in operating as well as marketing of the business, no matter if franchisor has a reputed name or great programs because franchisees are the one who truly operate.

4) Expectations

In franchise business, franchisee cannot expect instant success because they first need to do great efforts to get accomplishment as success in franchise demands time, initiatives and industry. Therefore, patience must be the franchisee’s priorityin franchising.

5) Business Management

Franchising always demand an ability to run a business and therefore in franchising, business management is a great challenge. If one seek any kind of problem in business management he/she can ask for help to franchisor.

Thus, success of franchise business is all depend upon the operating power of franchisees and their skills in running a business. One must be able to face any kind of challenge with the confidence of winning because franchisors keep faith in franchise for further development of franchise business. MultilinkWorld one of the top notch franchise business throughout the country set a perfect example of success of franchise business.

Advantage of Franchise

Franchise is defined as a business linking between franchisee and franchisor.

The franchise agreement consists of training in the functioning of franchise business and existing of franchising concept in aspect of activities like marketing campaign, sourcing stock, implementing sales contract etc. MultilinkWorld is a franchise business that provides various business models and have been operating with numerous of agents throughout the country since ever established. There are various benefits of franchise.

Management training and support :- 

Incompetent management cause business to fall towards loss. Franchisors are familiar to this and thus, provides training programs to franchisees before they come into operating as the major success of business depends on franchisees or agents.

Regiment quality goods/services :-

A franchisee affiliates a license to sell the product/ services of franchisor or franchise business and has a right to use associated brand name, and the quality of goods/services describes the reputation of business and franchisor.

Territorial protection :-

Franchisors offer franchisees or agents a territorial protection which privileges the franchise to distribute brand name goods/services within a particular geographic area. The size of franchise differentiate from industry to industry.

Enhance probability of success :-

Franchising is less risky than creating a business, the appropriate success rate of franchising are reference to wide range of services, assistance, guidelines provided by franchise business owner/franchisor. Many franchisor accepts that franchising plays huge role in success of their business.

Brand name appeal :-

Franchisee privileges to use globally known and advertised brand name for goods/services and this is why franchisee/agent holds the benefit of using widely recognized name to identify his business and generally it offers a great deal of selling power.

These were various advantages of being a franchisee/agent other than depending wholly upon full time job or building a new business. It enhances one’s skills, experience and learning in the field of marketing and does not require any great investment but just numbers of assets like laptop/computer system, printer, internet connection and hard work.

4 Major Boons of Becoming IRCTC Authorized Agent

MultilinkWorld, a no.1 leading franchise business company all over country resides in Mumbai. The company is associated with over 20k business partners and swiftly growing. IRCTC Authorized agent is one of it’s franchise business offered to the businessman, housewives, retailers, students, professional, and cybercafes. IRCTC Authorized agent has been beneficial to many agents and some of it’s benefits are described.

Unlimited booking

Being an IRCTC Authorized Agent one can book the numerous of tickets, there is no limit set for these agents. Along with this, these IRCTC Authorized agents do not require any kind of bank accounts and cash can be deposited in principal agent bank account.

Risk of cancellation

The tickets issued through IRCTC Authorized agents cannot be cancelled, therefore, any number of tickets issued by an IRCTC Authorized agent must be operative. However, these agents provided the facility of issuing tatkal ticket after the 30 mins of opening time.

Trade license

Although, to trade any kind of product or services either online or real, every dealer should have trade license but IRCTC Authorized agents do not require any trade license in aspects of railway agency and can book any number of ticket within a day and the tickets issued to them are printed with the details of their agency.

Direct login

However, agents are prominently known as people who get commision on what they sell or deal in but also they get other benefits like IRCTC Authorized agents gets the advantageof direct login in the portal of IRCTC and the railway ticket fare deducted from their wallets and therefore, tickets get issued or created faster.

These were few benefits of being an IRCTC Authorized agent, however, the agent gets an attractive commission but they are also serve with these benefits which is advantageous to them and give a great comfort while they deal as an agent for the company. So, stop being depending upon full-time job and be an agent.

To Know more you can visit : MultilinkWorld.

5 skills essential to be a travel agent

Being a travel agent one gets a load of benefits and can earn an attractive commission. Conversing about the travel agents, there are various skills required or essential to be a travel agent suggested by MultilinkWorld. Multilink world, a leading Franchise Company all over the country offering variety of opportunities in relation to franchise businesses like travel agent, money transfer agent, IRCTC Authorised agent, Mos Utility service agent etc.

1) Contracting

Travel agent must be effective and efficient in storing contracts of various hotels, resorts and know excel for the detailing of contract properties. Delay of contract must not be in the dictionary of agent as it makes a negative impact over customers.

2) Costing

The agent must be capable of mapping right itinerary, products and offers and discount to the client. Also, have update knowledge of offers and promotions provided by suppliers or company he is operating.

3) Tracking

The travel agent must be able to do tracking in the right time because timely tracking of obligations to the suppliers and maintaining a report with the supplier promotes business growth. He must ensure the efficient follow up with supplier, guest, and customers.

4) Competing

The travel agent must be capable of stay in competition as there are numerous of online agencies and websites, guest access travel agent anywhere and therefore, he should be able to provide best availability of rates, hotels, destination, itinerary, packages etc. And provide them the facility of online payment options.

5) Payment collection

For travel agent payment, collection is slower and need manual intervention. Sometimes online payment options consume time due to technological circumstances and in direct payment, one need to go to other to collect payment, which could be complex.

These were few challenges or skills one need to become a travel agent. Although, these skills are not very complex but one will take time and efforts to be perfect in them. Moreover, these skills not only help you while operating as an agent but lead to your personal growth and knowledge.