A franchise checklist -4P

Franchise checklist can be divided into 4P which are Product, Profitability, Process and People.

Inside the Product/ Service, it has:

1. 1.      Positive reputation
2. 2.      Customer need
3. 3.      Growing market
4. 4.      Safe
5. 5.      Patented/ guaranteed
6. 6.      Self-interest
7. 7.      Identified with known personality
8. 8.      Future need
9. 9.      Strongly desirable

Inside the Process/ Business Format:

1. 1.      Marketing
2. 2.      Promotion
3. 3.      Brand recognition
4. 4.      Management
5. 5.      Accounting
6. 6.      Site selection
7. 7.      Headquarters control
8. 8.      Service/ repairs
9. 9.      Financial support
10. 10.  Number of franchisees
11. 11.  Advertising

And the Profitability, it can be:

1. 1.      Profits
2. 2.      Revenues
3. 3.      Cost of goods sold
4. 4.      Labour costs
5. 5.      Expenses
6. 6.      Return on investment
7. 7.      Earnings claim
8. 8.      Forecasted revenues
9. 9.      Start-up costs
10. 10.  Franchising fee
11. 11.  Royalty fee (%)
12. 12.  Advertising fee
13. 13.  Other fees
14. 14.  Termination costs
15. 15.  Selling of franchise rights
16. 16.  Renewal rights& costs

And the last one it is People, it has:

1. 1.      Franchisor Chairman
2. 2.      Franchisor President
3. 3.      Franchisor operations executive
4. 4.      Franchisor sales executive
5. 5.      Other principals or directors
6. 6.      Service departments
7. 7.      Advertising& promotions
8. 8.      Finance& accounting
9. 9.      Sales& marketing
10. 10.  Site selection
11. 11.  Personnel& training
12. 12.  Manufacturing& operations
13. 13.  Field support