In the beginning, you have to understand the meaning of franchising, especially if you are interested in delving into the franchise experience or a budding entrepreneur who wants to start your investment with a big name.

Franchising is an opportunity that gives you the experience of sharing another brand.

What is the privilege?

It is a contractual agreement between the franchisor and the franchisee and includes three types of payments to be made to the franchisor:

1- Brand price: or called the property rights of the trademark

2- Training fees: They are different. Training fees: They are different according to the type and specialization of the brand

3- Ongoing fees: The buyer will have to pay a continuous fee to the grantor, which may range from 4% to 12.5%, which is paid on a monthly basis to the trademark owner.

Demand: One of the most important things that must be reviewed before buying a brand is the demand for the product itself.

In the end, the franchise is considered a successful project based on the general evaluation and previous experiences, but it does not do anything before studying all the details and studying the brand well.

So, you’re thinking about turning your business into a franchise? Amazing news! But, how is it done, you might ask? Well, there are a series of steps involved in order to ensure you have placed your best foot forward. After all, you want to have a smooth transition into the franchise model for your business. Below, I’ve outline five tips to make your business franchise ready. Keep in mind that this is not an exhaustive list and that you’ll of course want to have a consultation with an expert in the matter for your specific needs; such as: the Franchising FG Team (shameless plug).

1.     Get your books in order!

If you were to have a surprise audit this very moment, would you be ready? If you’re sitting at your desk reading this with a pile of loose receipts mounting in your desk drawer collecting dust, the answer is no! A franchiseable business is a financially sound business. The only key indicator to that is not how many customers are pouring in the door each day, it’s your books. Everyone knows that the numbers don’t lie! We’ve all seen those businesses that ‘appeared’ to be in good shape but the next thing we knew they were featured on the national news with paperwork inflamed in garbage cans and employees looting salvageable office supplies as they created a stampede out of the front door. You want to be able to confidently say that your business is profitable? When your finances are in order, the numbers will say it for you.

2.     Get operationally organized.

When a new employee joins your team, are they thrown in the lion’s den and forced to ‘figure it out as they go’ or is there an actual training process? Granted, there are certain aspects of most jobs that are best learned by doing, but overall, there should be policies and procedures in place that are easily replicated for a potential franchisee in the future. Beyond employee training, how exactly is your business run? What is your business model? These are important aspects of your company that need to be put to paper. Think about it as if a good friend of yours was coming to your company to be CEO for the day and you weren’t allowed to help, only to show your operational procedures manual. Would it be of any help to them? Remember, professional service providers like ours can help you in documenting your business and putting it on paper. The key is to have the processes and systems in place.

3.     Cut off the excess parts that aren’t profitable.

Many times, in business when you first start off, your company may be juggling several services or products, but over time, you begin to see what the customers truly gravitate towards. Then, you hone in on that particular aspect of your company. Too often, business owners won’t cut ties with some of those original offerings because they may bring in trace amounts of profits or there is an emotional connection to it. Are they truly profits though? When you calculate the time, energy, and resources that have to be geared towards them they might be costing you more in the long run. Every business owner knows the sweet spot of their business. Stick to that and discard the rest!

4.     Instill solid leaders and team members in your company.

When you look at the employees of your company, you should see gems. Not the literal precious stones per se, but valuable assets. After all, these are your first draft picks for leadership and growth opportunities as you prepare for expansion. Are they being equipped with the right tools and opportunities to rise to the occasion when the time comes? Seek out opportunities in the work place as well as external conferences and training to assist your employees in shining their brightest.

5.     Sharpen your sales skills.

Is selling an important aspect of franchising? You bet! Unless you are in a super new type of niche, the likelihood that there are other franchise opportunities available out there with companies similar to yours is extremely high. You want your business to be attractive to first entrepreneurs, and possibly serial entrepreneurs, seeking a new endeavor. That’s where your sales hat comes to play. Are you able to clearly articulate and demonstrate why a franchisee should consider buying an ownership in your company? Are they able to get a good sense of why you like what you do? If your story isn’t compelling and transparent, you won’t be hooking any fish with that bait.

If you want to make your business franchise ready keep these tips in mind. It’s not an easy process, but a very rewarding one when you have the right support. The Franchising FG Franchise Team is always available for a consultation when needed! Are there any additional tips you would add to this list? Share them with us on twitter or post below!

The world has started with a new financial transaction system, and it is expected that it will become the comprehensive system in financial transactions in the future, and the new financial system has been called digital currencies.

The name of digital currencies is called a group of virtual currencies that are traded on the Internet, and although they are intangible, they have a great potential for users and traders in all countries of the world. And institutions using it instead of traditional money, and it has become possible to pay purchase and service bills with it, and many people are using it to exploit its value in the long run.

In order to trade these digital currencies, there is a set of complex cryptographic processes that are used; This is to protect traders from being expose to any fraud or forgery. As for the currency mining process, it is a complex algorithmic transaction that requires specialized hardware. This aims to maintain its price value, and it should be noted that no large quantities of it are produced to protect it from inflation; In the event of an increase in the number of digital currencies offered, this contributes to a decrease in the prices of digital currencies; Therefore, the amount supplied is reduced each year.

Gold is one of the most famous metals that is characterized by its relatively high material value, and this is what made it used as a currency to be traded among people. The history of the use of gold as a type of currency dates back to 643 BC when gold was used as it is found in nature, where it was part of a compound called electrum, and with the development of human life, gold began to be extracted from its sources and separated from the rest of the other elements Which is found with him in nature, and he began to differentiate between it and silver, to gradually enter into the manufacture of coins, necklaces, and coins, and with the development of economic life and the emergence of many currencies that began to take a regional and international character, the relationship between gold and the dollar emerged, and in this article, the relationship will be highlighted. between gold and the dollar

The relationship between gold and the dollar began to crystallize by 1928 when what is known as the gold standard appeared, and that period was characterized by the relative scarcity of gold after the end of the First World War when currency reserves were convertible into gold against a fixed exchange rate. By the time of the Great Depression, the gold standard was greatly affected, and this was directly reflected in the way it was traded against the dollar, after which a new price for the dollar was set as a minimum against gold, and that was by foreign central banks.

Later, many foreign currencies were linked to the US dollar, and the relationship between gold and the dollar was later affected by the new gold standard that was introduced in 1958, where it was possible to convert European currencies into gold or the dollar currency for free in international payments and trade exchanges across countries. However, the decline in gold reserves in these countries and the presence of a deficit in their financial budgets made the United States of America reconsider this, and stop the free convertibility to dollars or gold In the end, the international monetary system was based on the dollar and its counterparts, while gold became a major role linked to global trade exchange between countries.

If there’s one thing 2016 will be remembered by, it’s an overwhelming fear of uncertainty and doom. In the last year alone, the world has been paralyzed by Brexit, devastated by the Syrian refugee crisis, and dismayed by the recent U.S. presidential election cycle.

In the wake of uncertainty, business owners might find themselves frozen or unwilling to take a risk. In a column for Psychology Today, author Christine Louise Hohlbaum writes that paralysis – whether it’s in your personal life or your business life – can be a common response to stress and fear.

“We see molehills and think they are mountains,” Hohlbaum writes. “We know we have done something similar before this moment, and yet we cannot help but feel we are trudging up yet another mountain. And somehow we think that this time we won’t be able to master it.”

But, says Hohlbaum, fear and uncertainty can also be a gift. “A little bit of fear mixed in with the passion that pushes us through it to the other side is what keeps us moving forward. And makes us so excellent,” Hohlbaum says. In other words, some great opportunities – including business opportunities – come when people push past their fears and pursue their dreams – even if it’s terrifying.

Nowhere is this more apparent than the business world. For example, one informal poll from Inc.com showed that the most remarkable employees were someone that the employee hired despite not having the right qualifications. (Employers often had a “hunch” about that person that ended up being correct.) In 2009, entrepreneurs Leigh Ann and Andrew Green liquidated their children’s college fund and took out a second mortgage to fund their dream business. Despite the risk, their move paid off big: The company, Twelve South, amassed more than $1 million in profit in its first year running.

It is the fictional embodiment of the buyer persona of your ideal customer.

This imagination is created based on studies, research and statistics carried out by companies and organizations to determine the customers" tendencies and attitudes about the product.

The buyer"s personality helps determine your targeting of customers more precisely and in detail, which contributes to increasing the percentage of sales and achieving a wider spread.

Importance of Buyer Personality:

A deep understanding of the buyer persona is an important component in product development and sales, as well as in preparing marketing content to attract new customers and retain existing customers.

In general, there are a set of questions that must be asked and answered and will help you greatly to develop a general framework for your ideal buyer personalities:

1- What do they do in their daily life?

2- What is the job they do?

3- What is their job title?

4- What are their academic qualifications?

5- What is their geographical location?

6- What are the main challenges they face in their day?

7- What motivates them to search for a solution to their problems?

8- What questions do they ask the sales team during the process of selling or buying something new?

How did the buyer persona work?

It is carried out through several sources, including:

1- Social media analytics.

2- Your existing customer database.

3- Google Analytics.

1- Studying the product to be marketed well and knowing all its defects and advantages.

2- Market analysis on the basis of regions, meaning that each region or country has a different style of marketing that directly affects customers.

3-Detailed audience targeting, meaning that before starting a marketing campaign, the targeting must be precisely defined. For example, some products target women and some products target adolescents or target the financial capacity of customers. Therefore, the correct targeting of the audience ensures positive results for the institution.

4- Innovation: the public, by nature, always prefers innovative marketing away from repetition or boredom. Therefore, the successful marketer must have a sense of innovation in his ways of presenting products, which ensures that the public does not get bored of the product.

5- Exploiting opportunities: One of the important points in digital marketing is to take advantage of opportunities that always occur in the ocean, such as exploiting any trend at the present time or a specific occasion. Design: One of the most influential things in digital marketing is design. Choosing designs that suit the audience and attract customers is the first step to ensure that the customer follows the product and is affected by the product.

Through our previous review, we note the strength of digital marketing at the present time, as it has become one of the main pillars of the success of the organization. What distinguishes digital marketing is the ability of the marketer to work at home and with the same degree of efficiency, and to establish a team of marketing companies without the need to build a company or any official licenses.

We spend a lot of our time on the Internet and it has become a source of livelihood and wealth for many people, so what are the methods that you use to get profit from the Internet?

There are many ways, but in this article, we will talk about the correct and legal ways to make money from the Internet.

1- The first method is e-commerce: which starts with your choice of the type of store you want to build on the Internet, and then identifying the supplier for the product you sell, the marketing stage of the site, and publishing the store in all social media and Google ads, to raise the store"s ranking in search engines. earn money online

2- Profit from the Internet through the blog and Google Adsense: It is one of the oldest ways to profit from the Internet. The idea here is to choose one of the areas in which you have great knowledge and then publish articles in it and participate in the Google Adsense program. Before starting the blog, you must choose your domain name and book hosting. We recommend the Bluehost website for hosting, where it has proven its credibility and speed of work. 3- Profit from the Internet through the Instagram method: You have to choose a specific field that you feel able to publish and be creative with, and then you create a professional Instagram account, start publishing, attract followers, and start earning profit from the number of followers and views.

The product goes through five basic stages in its cycle, what are the stages and the importance of studying them.

Product lifecycle stages:

The first stage: presenting and launching the product.

 The second stage: the stage of product growth.

 The third stage: the stage of maturity and prosperity.

 The fourth stage: the stage of saturation or saturation.

 The fifth stage: the stage of decline and decline.

Importance of Product Life Study:

The product holds the utmost importance to the owners of factories, companies and electronic stores. Studying the product life cycle effectively contributes to the correct handling and effective treatment of each stage or challenge the product goes through, as it is natural that the product in its stages is exposed to many obstacles and problems such as intense competition and production problems that It may be related to quality, transportation or storage with different types of products and the rise or fall of production costs according to the economic conditions accompanying the production stage Presentation and product launch stage:

The stage of launching and presenting the product and putting it on the market is one of the five most difficult stages that the product (whether goods or services) passes through during its life cycle, as it is the stage that requires more work and hard effort in addition to spending.

This stage needs to secure large budgets in order to effectively spend on marketing research conducted on the product and the competition market, product development and testing its resonance among the target audience or consumers, and other efforts made to introduce the product and put it in an effective market

Product growth stage:

The second stage that the product goes through during its life cycle is the growth stage, which is the stage in which the harvest begins, but not in a large way, as the demand for the product (a good or service) begins to increase gradually, and then its sales volume rise, and thus achieve progressively profit rates.

Maturity and flowering stage:

The product goes through its third stage of its life cycle with variables and data, as well as completely different goals from the previous two stages, which are the two stages (product introduction and growth stage); As the product reaches its third stage, which is the stage of maturity, to a large degree of prosperity and achieving a great position in the market among competitors.

It is the stage in which the owner of the product (whether a good or a service) reaches the pivotal goals set in advance, which we call business goals, which are from the beginning to increase the volume of sales and then obtain the largest possible percentage of profits. And if we call the first stage (the stage of introducing the product) the stage of cultivation, then the third stage (the stage of maturity) we can call it the stage of harvesting in which the product reaches the peak of maturity and the owner of the product reaches the peak of profits.

saturation phase

One of the most dangerous stages that the product goes through during its life cycle is the saturation stage, which is the stage in which the market reaches high degrees of saturation of the product for several reasons, including the imbalance between supply and demand, consumers search for different new products with new advantages Increasing the number of competitors and producers of the same product, and other reasons.

However, all of these factors force the product owner to reduce the price of the product in any way so that the balance between supply and demand and market stability can be re-established Decline or decay stage:

The last stage in the product life cycle after its launch, growth, maturity and saturation is the stage of decline and decline that the product eventually goes through. If the saturation stage serves as a warning bell to address the matter before deterioration, then this stage is the critical stage in the life cycle of any product.

The stage of decline and decline is that stage in which the demand for the product begins to decline and consequently, the volume of sales decreases, and thus the product shrinks significantly.

There are many reasons behind the deterioration and decline of the product at this stage; The most important of which is the saturation of the market with the product due to the availability and production of many similar and alternative products as well. Consumers seek innovation and find different advantages and characteristics in different products.

Every organization needs to do a SWOT analysis periodically to study the technical and operational status of the organization and to assess the general condition of the organization to address any problems and correct any errors resulting from the company’s workflow.

The analysis is divided into 4 points:

-STRENGTH STRENGTHS:

Through it, the main strengths of the organization are identified and may include marketing, speed of delivery, teamwork ... etc.

- WEAKNESSES:

It is the opposite analysis of the strengths, i.e. writing the weaknesses in the organization and may include shopping, product, packaging, place .... etc.

- OPPORTUNITIES:

Studying all opportunities for the organization and possibilities of development and expansion, whether in the same place or the quality of the product.

- POSSIBLE THREATS:

Threats in a large proportion are through the entry of new competitors to the market or weakness in sales due to problems related to the product itself or general problems in the local or global economy as a whole, which affects the production process and the success of the organization in achieving its goals.