ABSTRACT
Franchise buyers are those who want to be the owners in a way or another. But if they start behaving and acting like passive buyers and stop getting involved in the business activities of franchise, then it would become so difficult for that to flourish.
The franchise buyers do look forward to freedom and more relaxation which compelled them to act like an investor. But this is not the way of handling situations.
No one can get rid of responsibilities by giving one excuse or other. They say that we don’t get time for family or for leisure activities, but the fact is some of them are really not even able to handle tough situations.
The problem is not that they cannot work in an arduous manner but it is that they want to do hard work for their future and not the franchises’.
INTRODUCTION
The trend is changing nowadays, the big investment companies do look at franchises as a source of mega profit investment. But the franchise buyers require a lot of change in the mindset of this changing corporate world. It is not acceptable if their interest is ruined due to these types of activities.
Also, the material fact is that the franchise buyers are behaving more like investors because they want to get rid of their hectic schedule. As they are supposed to travel a lot and do research about the market trend. They also have to keep a track of the profitability of its own as well as competitors’ business. So, now they are engaging in franchise business just like any other investor which is creating a downfall in the franchise sector.
THINGS THAT FRANCHISE BUYERS NEED TO UNDERSTAND
It is common knowledge that buying a franchise is a part of investment but at the same point it is also true that along with buying any franchise there are many responsibilities which come along with it. A buyer is required to have following things in mind while purchasing and should not at all behave like only an investor:
- Buying a franchise is like starting some new business and if the person is like he is just investing for money security, then he should not think so. Because a buyer is supposed to take care of every single activity taking place in there and need to supervise everything.
- If he will continue to behave like an investor, then, who will handle day to day operations leading to disorganization. This in turn will bring the franchise in loss and the franchise owner would buy back it.
- Investors do invest mostly for getting additional money, but the mindset of the franchise buyer should be like he is doing it for money as well as passion.
- Buying a franchise gives you sort of job permanency if you work sincerely, although if you are behaving like you have invested once and no need to pay attention towards it, might cause trouble.
- At present, there are more opportunities and options available in the franchise sector and the need is just to choose any one of them. And once the profitable unit is selected, it is on the person how to bring it in due course, if he acts like an investor, hope the trust would develop and advancement would become possible.
- Also sometimes, people assume some unrealistic discomforts which make their behavior peculiar. But they should at least gather the required information before making assumptions and work accordingly.
- It is said that a relationship with a franchisor is a business relationship and not every decision made at corporate level may be to your benefit. This states that the functioning of professional nature requires more effort and stamina.
So, it can be concluded that the franchise buyers need to take the decisions properly, if they are doing it, then they should not behave so casually that it harms both the concerned sides in their regular course of business.
CONCLUSION
Yes, any franchise owner is in some way or other an investor also. It’s the perspective of the person who is doing it. But at a point of time all the franchise buyers should understand that they should never behave like a mere investor when purchasing any franchise unit. It is harmful for both parties.
It is not possible for anyone to get advancement at doorsteps without any effort. Any franchise buyer needs to understand that the field in which he is stepping in is not that easy to handle. The casualty shown in the behavior of people is not acceptable.
Hardships come everywhere, it depends from person to person how they handle it or how they want them to be. In the franchise sector, yes while buying franchises, people do invest, but not in any normal business, they invest for their secured future. It is the high time to make people aware about the real mechanism and prosper in this field too. Because opportunities are present, the only requirement is to utilize them.
REFERENCE
AUTHOR – DEVANSHI GOYAL
