1) |
How can franchising help in Business Expansion? |
| |
|
| |
Franchising is one of the most powerful tools in business because the Franchisors are able to expand their business with a much lesser capital and their franchisees (Investors) are usually the dedicated business owners through their investments. Franchise has proved to attain high success rate and are much sought after because of the ability to replicate the success of a business format. The success of the franchise lies in the availability of a business format or prototype completes with the training and operation manual which shall provide a continual guidance towards the operation of the business. |
|
|
| |
Back To Top |
| |
|
| |
|
2) |
What are the considerations before embarking on a franchise? |
| |
|
| |
Before embarking on a franchise, the business owners should always consult a franchise consultant to conduct a Franchise Readiness Audit on their business to determine whether their business is franchisable. |
|
|
| |
Back To Top |
| |
|
| |
|
3) |
Is Franchise Readiness Audit (FRA) a compulsory? |
| |
|
| |
No, it is not a compulsory nor a requirement by the government. However, an FRA not only allows the foresight of the readiness of your business but as well as provides you on an insight towards the needs which shall prepares you towards franchising. |
|
|
| |
Back To Top |
| |
|
| |
|
4) |
Is registration of a franchise compulsory? |
| |
|
| |
Yes, the registration of a franchise is compulsory by virtue of Section 6(2) of the Franchise Act 1998. The section provides that all franchise must be registered with the Registrar of Franchise before the franchisor can offer to sell it in Malaysia. Failure to comply with the act shall be liable to an offence under the Act. |
|
|
| |
Back To Top |
| |
|
| |
|
5) |
What are the requirements to franchise your business? |
| |
|
| |
The most important thing to look into your business before venturing into franchise is to ensure you have the following: |
| |
|
| |
| a) |
Business format or prototype |
| b) |
Operating the business for at least 3 years |
| c) |
A proven track record |
| d) |
A Registered Trade Mark |
|
|
|
| |
Back To Top |
| |
|
| |
|
6) |
Does branding plays an important role in the success of your franchise? |
| |
|
| |
Yes, branding is one of the most important factor in Franchising as in a Franchise, you are indeed selling your business coupled with your brand. |
|
|
| |
Back To Top |
| |
|
| |
|
7) |
What type of service does Intellect provides for Franchising? |
| |
|
| |
In Intellect, we provides not only consultation services but we also assist in the development of your franchise system, from the documentations until the registration of your franchise. We also provide post development services such as the management of your franchise as well as the marketing of your franchised business. |
| |
|
| |
As a Registered Franchise Broker, we also provide brokering services to those who wish to acquire franchises. Here, we shall assist in determine the feasibility of the business and acquiring all the necessary documentations for review as well as the reading of the franchise agreement by qualified lawyer. |
|
|
| |
Back To Top |
| |
|
