Franchising, a good choice in times of crisis

Maybe the economic crisis is not the best time to start a business from scratch, but certainly does not mean you have to give up his dream of being your own boss, especially if you are not current job seem so sure or you are one redundant.

Best choice for a new one is a franchise business, say experts.

“I think the franchise is generally a good investment, even in periods of adverse economic cycles, “he said, for Ziare.com, Ramona Stanciulescu, executive director of Rafar, franchise company that deals in the RTC group, owned by the man businessman Octavian Radu.

One of the main advantages of a franchise is that, in periods of economic contraction, the franchisor can offer the franchisee, to overcome difficult moments.

The franchise is a business partner who understands that success depends on the success of the franchisee and sustain local brand, ” said Stanciulescu us.

The economic times we are going through, for example, we asked for support brands that we represent, and it ranges materialized by adapting to changing consumer behaviors of the Romans, by extending the payment terms of goods and defining an appropriate marketing strategy market, “said direcorul Rafar.

What you should know before purchasing a franchise

Assuming you already have the necessary funding, the contractor must document carefully before opting for a franchise or another. “First, we need to ‘do their homework’ internal: to analyze the market (competition, consumer profiles, etc.) and decide what kind of brand search. Then you need to make a short list of interesting brands, with whom for detailed discussions about “the director told us Rafar.

Then, the investor shall have to talk to franchisors, to find out which brand expectations about network development. It would also be good to know some franchise models from countries with comparable economies with Romania, to better prepare a business plan.

It would be a bad idea to talk to any other entrepreneurs who own the franchise for the same brand to learn its advantages and disadvantages in particular. Learn how your business is profitable, which were the actual costs of the franchise and if the franchisor provides enough support.