- Identify your strength – Before starting up a business, it is important to find out one’s strength. Identifying the core area that one is best at can really make a difference.
- Choosing the business – Go with a business idea that makes you feel curious & connected as it will bring a burning desire to carry on during the initial days.
- Analyze the market– Once you are hopeful about the business, just do some basic home works about the dynamics of the market that you want to be a part of. Moreover, analyzing the demand, market trends, market profitability, cost structure, distribution structure, demographic factors in a business can help a lot.
- Choosing the right brand/ company– Out of the various companies available in every sector of businesses, it is always a tough decision to select a company to work with. While selecting any company you should think long term because you have to do a continuous business with them. Always prefer a company that will support you in various ways right from business plans, materials & equipments, staffs, advertisements and promotions and so on. In short, choose a company that will love to work with you in long term basis.
- Smart advertising and promotional activities– Your advertisement techniques and promotional activities can help you a lot in attracting a lot of customers. Consequently, bringing the maximum number of foot falls in your store.
- Think like an owner– Whenever you start with a franchise business, think like an owner as it generates a certain sense of responsibility, ownership among you. Thus, pushing you to break all the past records and run a successful business.
- Believe in the product/service– For every franchisee, it is important to understand the uniqueness & benefit of using the product or service. If the seller is not clear about the product then the tendency of selling it to the buyer is very low. To make any product saleable, you must have a strong faith and belief on the product/service.
- Follow the system– This is actually the fun of running a franchise business as one just needs to follow the already paved path of the successfully running company. Following the business system, brand name, policies, cost structure, etc. will keep you in a safe position but one needs to even add their own inputs to stand out.
- Work on the feedbacks– The customers are your greatest critics. Their dissatisfactions and high expectations will help you in evolving your ways of conducting the business. Thus, elevating your business in the stairs of success.
- Rely on your team– Focus on creating a great team. Be the best leader you could be. The working environment must be a healthy one that influences staffs motivation, happiness and brings out the efficiency & productivity within them. Make sure that you can easily rely on the team and have a co-ordination with your team.
- Strong Network– Create a strong network by constantly satisfying your customers and catering the best services possible. Happy customers are the blessings for every business. Keep communicating and engaging your customers to grow a big network.
- Growth- Your focus should always be in the growth of the business. Generating huge revenues, gaining profits, creating more customers, providing the best quality products and services are some ways to grow your business. Always try to put something new to business, try to be creative and innovative with your product and services as they can bring success. Being innovative, will always keep you in the front seat.
- Think positive– LAST BUT NOT THE LEAST, being positive is most important in whatever you do in your life and mostly in business. Always keep a positive vibe as it will help you in turning the problems into opportunities. As said, “Your positive action combined with positive thinking results in success.”
- In Presto, we have over 165 happy franchisees who are running successful businesses and growing with us. Presto provides the franchise opportunities in India with low investment. Now, we are focusing on creating franchise business for women as we truly believe that they can run businesses along with running the households.