क्या होता है Franchise Business Model ? | Types of Franchising Models in India | Explained in Hindi

Types of Franchise

Franchising is a flexible and easy method to grow your business and any type of business can be franchised. There are many types of franchised businesses available, that can be differentiated according to various factors, such as investment levels, franchisor’s strategies, operations, marketing, and relationship models, and many more. But there are five major types of franchises which are mentioned below:

1. Job-Franchise

Generally, this is a home-based or you can say a low-cost franchise that is handled by a person who wants to start a small franchised business alone. These franchisees are mostly operated by a single person selling products or providing a service within a specific trade or industry. The franchisee usually has to buy minimal equipment, limited stock, and sometimes a vehicle to provide the services to the customers.

2. Product Franchise

These are product-driven franchises and they are totally based on supplier-dealer relationships, where the franchisee distributes the franchisor’s products and services. The franchisor licenses its brand name by not providing franchisees an entire system for running their business. These types of franchises generally deal with large products such as car spare parts, appliances, vending machines, etc. Product franchising offers the highest percentage of total retail sales.

3. Business Format Franchise

These types of franchises also use the franchisor’s trademark and the entire system to operate the business and market the product and/or service. The franchisor offers a detailed agreement and procedures on almost every aspect of the business model. It also includes initial and ongoing training and support. These are the most popular sort of franchise system.

4. Investment Franchise

These are large-scale franchise which requires a huge capital investment, such as hotels and big restaurants businesses. The franchisees usually invest money and engage either their own management team or franchisor to operate the business and produce a return on their investment and capital gain on exit.

5. Conversion Franchise

It is a modified relationship between the franchisee and franchisor, where many franchise models grow by turning their businesses into a trademark. The business grows in the same industry into franchise units. The business adopts marketing & advertising programs, training system, and client service standards. They also usually increase procurement savings. The franchisor in this way has the potential for very rapid growth in terms of units and royalty fee income.

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Website link :- https://sonisvision.in/

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