Creativity in Business and in life - Part 2

As fostering creativity in the company

Ask a special person to say "can not" why something would not work and you will hear the reasons more "creative" imaginable. Apparently, creativity is not necessarily positive pro.

Yet here we propose to introduce techniques for the development of creative thinking for use proactive. Here are some:

Create a climate for creativity

Tell your team that has this or that problem and solution you are looking for. Do not forget that solutions can appear where least expected, so much so that creative solutions often come from the company's management team.

Encourage the creativity of others

Always express public recognition to those who offer their creative ideas, whether they worked or not. This is essential to encourage other initiatives.

When you bring a problem for you to solve, before submitting a response accustomed to asking, "What do you think needs to be done in this case?"

Be receptive to ideas, even apparently absurd. If someone 120 years ago we would have raised the idea of creating a device that fly through the skies even be heavier than air, carrying 300 people and travel at a speed faster than sound, probably would have said that this was a absurd idea ... Is better not to dismiss ideas!

Mount in your company a PROGRAM FOR THE INCUBATION OF IDEAS.

I use the term "incubation" in order not to discard ideas but put them, ripen, grow, merge and manipulate them until they germinate. The program conditions for the incubation of ideas are open to your creativity.

It is a valuable contribution to the initiative of people and I guarantee that impacts the culture and ability to plan for the company.

Eliminate sentences killer of creativity.

Identify which are the killer phrases and hear around them. Replace with phrases that promote creativity: "Every problem has a solution," "Maybe. Only lack discover how, "" Everything can improve "

"We are doing well and we can improve it and others of their own.
Challenge the creativity of their team. Raise a culture of creativity in your organization. Ask questions that "require" people to question.

I share this experience: After explaining some techniques in the Creativity Workshop we carried out in a five star hotel, I proposed the following topic: "The hotel now offers an excellent service to customers.

What can we do to improve it without incurring the costs? "Even today I'm amazed at the quantity and quality of responses we got a motivated team in a friendly environment.

Do not marry the first idea

Do not settle for the first answer that comes to your head. Find alternatives. Write as many ideas as possible, without judging. Or better yet, plan to deliberately a minimum number of possible answers. At the end evaluate, add, extend, merge, disaggregate, mix, re-collect, assemble the best answer to the problem that needs solving.

The search for alternatives is undoubtedly one of the most effective techniques both for the development of creative thinking to find a solution.

As you know, lifting weights serves as preparation for a weightlifting competition and also to move a heavy desk. Similarly creativity training is useful for applications in various fields.

So train your creativity through games, dynamic and other useful resources for creativity in any field. There are many useful exercises to train your brain in search of alternatives.

For example, you travel by road. Suddenly, go to the side of the road to a family that includes medium-sized stones to throw them in the back of his truck. People passing by the road watching and wondering: Why collect these stones? Write a minimum of ten responses.
Convene meetings for the construction of creative ideas

Brainstorming sessions, also known as uncritical of ideas sessions are based on the principle of "trial postponed". To stimulate responses to a question without those answers are evaluated immediately.

The basic rules for a session uncritical ideas are:

• Any criticism is forbidden
• Every idea is welcome, though it seems wrong or absurd
• Gather as many ideas as possible
• The exhibits should be very short
• Associations of ideas are important in the process.

The evaluation of ideas should be done preferably at a later meeting, after which it becomes a photocopy of the notes reach all participants.

Curiously, many experts recommend making uncritical sessions with 10 or maximum twelve participants. I always wonder: Why? That is "to what is known for good". Group may achieve a richer supply of ideas, but I can attest that when this procedure is done individually also gives excellent results.

Do not let him escape ideas

Always have handy a recorder, a calendar, a pocket computer, a notebook or any other resource that allows you to save an idea.

Have not woken up at midnight with a brilliant response to a difficult problem? The next morning you have forgotten the idea and never captured by any means. Do not allow ideas to escape.

It is said that Mary G. Agnesi, one of the most prominent figures in the mathematics of the eighteenth century, often waking up at midnight with the answer to a problem that had been torturing. He wrote the solution and returned to bed.

Prepare to not let go of their ideas.

Consider the "opposite solution"

Often the "opposite solution is the answer you're looking for. An example of "opposite solution is the" distance learning "progressed today with the" virtual education ". Rather than expect the student to go to school, it is he who "reaches" the student.

The service of "home delivery" is another solution otherwise. To get the wine from the bottle usually pulled out the cork, but we could also get him, right?

Here is a problem that has been widely and answer:

In the Middle Ages a man of recognized quality was unjustly accused of murdering a woman. In fact, the real perpetrator was a very influential person in the kingdom and, therefore, from the outset sought a "scapegoat" to cover up the guilty. The man was taken to court and knowing that it would have little or no hope of escaping the terrible sentence of hanging. The judge, who had been bought, took care to give every appearance of a fair trial and the defendant said: "Knowing your reputation as a man of just and devout man of God, we will leave your fate in the hands of Him

In two separate papers write the words 'guilty' and 'innocent'. You will choose and so define your destiny, "Of course, had prepared two papers with the words 'guilty'. The judge ordered the man to take one of the folded papers. The room fell silent.

The question is: How could the man overcome the problem?

Let's skip the answer for you appeal to the art of looking the opposite solution.

Consult an "incompetent"

Discuss the problem you want solved by a competent person in an activity completely different from yours and have a suggestion. The more dissimilar your profession, occupation, hobbies, political affiliation, etc., The better.

Take advantage of your ability to understand things differently. We're doing much better when we work with brains from several different angles when we do it only with our own.

Also ask a child. It's great to discover the results of this suggestion. Firstly because you are forced to simplify the problem in order to explain and that's a benefit. Second, be surprised by the responses you get. Remember: Do not discard ideas. Collect alternatives.

Break routines

Breaking routines is an opportunity to see and do other things or the same things differently. It provides the opportunity for seeing the world through different eyes to our brain and expanded the horizon of possibilities.

Explore activities that regularly does. Change the type of reading. If you usually go to his office by car, go by bus or taxi and see the city like a tourist. Change the type of films that usually sees. If you are a regular viewer, television is no longer a few weeks and spend that time reading or other activity. Go eat at a vegetarian restaurant, read a book in the company, prepare a dinner with his son play a sport foreign to you.

In short, do things that usually do not. Allow yourself to see things from a perspective that is novel.

Everyone can practice techniques and habits to cultivate the development of creative thinking. He now has 10 suggestions for easy application in business and in life. You can begin to implement them or continue to ask: "WHY NOT happened to me?"

Creativity in Business and in life - Part 1

It is no secret that creativity turns out to be elusive for many people. Fortunately you can turn it into a permanent position, which applies to the most diverse areas of human activity.

The Creativity is now the condition is the main competitive advantage of firms. This is especially true in such sensitive areas as advertising, promotions creating, finding business opportunities, customer service and decision making.

Some people grow techniques and skills that allow them to create different businesses, different solutions to everyday problems or issues far more complex ... while others are amazed and simply go on asking: "WHY NOT happened to me?"

To expand our ability to conceive ideas and solutions, we must first identify what are the barriers that prevents it. Here are some of them
Reasons that prevent us from being creative

Low self-esteem

People with low self-esteem also have creative ideas. However, their low level of self confidence that makes them think their idea is not worth it and is not taken into account and make fun of him or her and her idea, and so on. These people often are surprised when they discover that another person described the same idea and thought insignificant surprise!, Everyone celebrates the wonder of that above stated idea!

Fear of making mistakes and looking foolish

Two reasons for the price of one. The absence of a culture of assertiveness and ignorance of our rights lead to fear of being wrong. Our culture has led us to the pleasure of "having always right" and stand by it. Not know the right to make mistakes and the power of the error. The sweet pleasure of being right and contribute to the error to arrive at what is possibly correct.

Staying with the first idea

The fact believe that the first idea is always the best, is limiting. Married with the first answer that occurs to weaken the other options. When this happens, subsequent ideas are compared with the first and will be discarded.

To consider what is known good

Have you ever heard the phrase "always done well? It is perhaps the most effective sentence for killing creativity and desire to contribute ideas in business. Other phrases that are in the same direction: "That is the norm," "that has already been tried and not worked," "it works in other companies," "the system does not allow," "it costs too much" "If that were possible, since someone else would have invented."

Let me share the following reading:

A group of scientists put five monkeys in a cage at the center arranged a staircase leading to a bunch of bananas, so that, whenever a monkey climbed to reach it, scientists launched a jet of cold water on the left in the ground.

After some time, when one of the monkeys tried to get others to ground it sticks until it was time that none of the five dared to indulge their instincts, despite the temptation of the bananas.

Then, the experimenters replaced with one monkey by another rookie, as one can imagine the first thing I tried was to climb the ladder, an action which was barred by the four old, who went down to the strength and gave him a beating, which followed each time by giving the upstart monkey tried, until the day that the lesson learned, would not go any higher.

Achieve this, a second old monkey was replaced. Same thing happening with the enthusiastic participation of the first rookie. And so a third and fourth, until the group of five there were none left.

Scientists were then compared with a group of five monkeys, even though they had never received a cold shower, continued to beat anyone who tried to reach the bananas.

Then came to the conclusion that if the monkeys were asked why their conduct at all was seen as unnatural and they reply, the answer is, no doubt, "do not know, here things have always been well”.

Sound familiar?

I invite you to uncover what are the killer of creativity phrases commonly used in your business and your environment.

Limiting beliefs

The set of ideas that people have intimate and unconsciously of themselves define their beliefs, behaviors and outcomes. Phrases like "I never think of anything" "I'm not clever" to me creativity does not concern me "and other wording that speak of the beliefs that govern the behavior of a person and thus his achievements.
Many times we think we can do something and eventually the only impediment to doing so ourselves!

Disdain for the difference

The healthy clash of ideas can find creative options. So the difference is desirable, necessary and, going a step further, desirable.

The quest for unanimity usually occurs when people do not want to appear when there is conflict or a boss or an authoritarian leader, who always believes to be right.

The most creative work teams are those confronted with maturity difference and summon the sake of creativity.

Now. What are the techniques we use to develop creative thinking?

New Business Ideas: Previous Analysis - Part 2

General Business Trends

Advances in medicine. Cancer, HIV, genetics. Memory. Neuropsychiatry.
Security: Violence, job insecurity, personal insecurity, private data
Entertainment that make the isolation: PC, Internet, TV, bi-directional interactive entertainment and tailor-made, multi-featured cell phones, portable car stereos, DVD, digital cameras, household, etc..

The family as the most important value for young: According to research done in London to young people between 16 and 21 the highest aspiration was related to being happily married with children, up from a successful career.

The organizations of the future: small business units are merged into larger units and will form a federal company. Centralized purchasing, advertising and Mkt and decentralized in others. Condominium or private housing estate. We need more partnerships. For this is not necessary to merge or make acquisitions without must work with other companies. You can unite around a common goal where individual talents are used and power but to resign this must be some independence to the team.

Companies with employees part-time or from home. You can use a model of community and find ways to feel part. Examples of a company that has many self-employed and a good restaurant where the food is free all gather there. This also implies changes in the rules of management and leadership: if you take the model of a community can be thought of in terms of political theory and not engineering thinking in the language of machines. Instead of looking for work, finding clients. Model of a play where the director is not listed but those are the employees.

The major problems

• Insecurity
• Violence
• Discrimination (immigrants, by age, sex, disability, etc.)
• Decreased sexual
• Cultural changes for men and women
• Food problems
• Drugs
• Divorces
• Fears - Phobias
• The new spirituality
• Slavery labor / labor abuse / harassment / stress
• Loneliness-person households. TV: Supermarket for loners
• Sectarianism

We thus have outlined a comprehensive and complex that guides us on possible options for work and business to address. Whether to offer solutions to problems that have to do with the lifestyle, needs and characteristics of certain groups or companies or as alternative ways of outlining a business.

This does not exhaust the universe of subjects but can be used to think of some potential business ideas. Each of them may deserve a study of alternative development. In future notes in this series we will be addressing some of them.

New Business Ideas: Previous Analysis - part 1

Searching for business opportunities is one of the most frequent requests and needs that make us reach our customers and subscribers / as.

Also one of the items most votes in polls in portals and sites dedicated to companies and enterprises: Ideas and opportunities to develop new businesses, are they looking for most people

who want to start their own.

Behind this desire is something that is not always explicit and yet is present: a successful formula that allows us to minimize the risk and uncertainty.

Proposals to start a business activity but will have to begin with some reflections and research about themselves: what they would like to start, what profile are as enterprising as to the autonomy, creativity, drive, perseverance, energy and many other features necessary .

It is also important to determine the knowledge and experience of work activities performed, studies, personal preferences, level of commitment to what they do or want to do, financial and economic capacity, time availability, implementation capacity, and so on.

And then evaluate whether to implement any of these ways:

• Install a retail
• Being distributors or wholesalers
• Working in professional services
• Engage in direct sales of products / services
• Buying a business already installed
• Buying a franchise
• Produce or manufacture any goods or products
• Partnering with a company to develop a new line of activity
• Create a partnership with family or partners
• Develop a supportive or cooperative project, and so on.

You see, there are certain preliminary steps that anyone can do for you. Whether they do or choose, there are always unavoidable aspects to choose what best suits their capabilities.

The available universe of ideas is much broader than in the first instance we can identify or imagine. What we do now will provide an overview of some trends to consider. These trends respond to global trends that mark today's world needs and also allow the visualization options available to you .

It is known that they recognize some personal business premises to consider:

• Information about the business itself, have as much information as possible
• The marketing is integrated with manufacturing (direct relationship with the consumer)
• The outsourcing of services. Be hired externally to reduce costs and ease the management of the company. This depends on the item.
• SMEs and microenterprises tend to be deficient for lack of advice and field study: costs and prices
• Do not sell what is produced but produced what sells
• Characteristics of current employer
• The quality is not only a requirement for export but is a basic part of the business. It is associated with excellence.
• Trend towards market concentration: it takes ingenuity, imagination
• Hazards: falling sales
• Negotiate leases with caution, makes tax costs from becoming delinquent by force majeure
  

Extreme sensitivity to economic downturns financial context. Eg Financial Crisis

Alternatives

• Work to improve service rather than sale
• Identifying niches
• Lower fixed expenses to a minimum
• Caring for the quality, not lower it
• Select suppliers (those more flexible on price and time)
• Negotiate leases with caution
• Shorten the chain links in the manufacturing / marketing
• Arming purchasing consortia to buy from manufacturers
• Breaking with the fragmentation and potential use common
• Implement modern marketing techniques that include promotions, credit cards, tickets versatile.

And the threats will

• Fixed Costs
• Tax pressure
• Social Charges
• Lack of credit support
• Import
• Franchising

Clarify these points, go to general business trends that are not nothing but importance of certain aspects of current society.

Franchising: Pros and Cons. Buying a Franchise Versus Starting from Zero

One of the first questions you should answer before starting a business is if you get to have a small independent company or buying a franchise.

Each option has its own advantages and disadvantages, The type of business you choose depends on a unique set of circumstances.

Let us first see what Wikipedia says on this form:

"The franchise is a type of contract used in commerce on the one hand call to another call franchiser gives the franchisee a trademark license as well as methods of doing business in exchange for a periodic fee or royalty.

The relief is to build on the experience an entrepreneur who has achieved a remarkable competitive advantage in the marketplace. That advantage may consist of a prestigious brand, products or patented methods or simply a deep understanding of the business that makes it knows the formula of profit.

Through the franchise agreement, The franchiser agrees to convey some of these values to the franchisee and it achieves a significant reduction in investment requirements and risk. "

Before making a decision Investigates the options available and reduces the alternatives. After talking to some franchisees, current and past (after all, who retired from a business has interesting things to say that might open your eyes ...).

Consider the following questions

Why would you want to start a business?

Is it because you want to be your own or head / e? If you want total control of your business, then the franchise probably is not your thing. A franchise sets the rules and guidelines you must follow.

The policies imposed on the franchisee may include: suppliers, the form of advertising, the rate of gain and even the hours of operation and, of course, everything related to the ambience of the place, the form of attention, and so on.

Looking for guidance on how to start a business and keep it running?

A franchisor has taken the time and effort to develop a successful business model. It is a proven system that works in different locations in the country of origin and often also in others. The franchisor may provide you with information to start the business, training and awareness. Because people are familiar with the franchise, it will take less time to build a customer base to develop an independent business.

Want to decide your own rates for your service or product?

A franchise will most likely dictate the rates of services and dial up the type of services or products you can offer. If you want to expand your offering beyond their guide, a franchise may not be your best option.

Do you feel comfortable or trained employees and maintaining all required documentation?
Since a franchise is an established business model, it will provide you with training materials for your employees. The company will tell you what kind of training each employee should take and what kind of documentation you carry and store. A franchisor quite possibly of all descriptions of each job and a guide on wages to offer.

Do you know where to buy your supplies at a good price?

A franchise agreement may impose the type of supplies and equipment to use in business. As the franchisee buys a large scale, hopefully you can get supplies and equipment at great prices. But keep in mind that may be required to buy supplies and equipment to certain companies that will not allow you to enjoy quantity discounts and / or special promotions from other suppliers.
Are you willing / or pay a portion of your monthly income to someone else?

Trade agreements differ from one franchise to another, But most will ask you to make an initial investment plus a percentage of your income to the franchisor. Moreover, in many cases there are mandatory advertising fees to cover costs of advertising campaigns. When you converse with other franchisees be sure to ask if they feel they get

Do you have the marketing skills to promote your business?

Self-employed persons are responsible for everything related to marketing, from: have business cards, a web site to support the business, promotional material (brochures, flyers, etc..), Local media advertising, campaigns, promotions, etc..

Do you have a specific location for your business?

A franchise will surely determine the amount of business in a particular area. So you'll probably allocate a territory to work.

Remember, a franchise is a model ready to operate, Will support you have your business running as soon as possible without reinventing the wheel. " However, a franchise has rules and procedures you must follow and, in some ways, dictate what you can not do with your business.

The way you want to develop your business should guide you to determine if you want an independent business or if you want a local branch of a national or international franchise.

10 Tips to undertake with limited means

Start a new economic activity requires capital. However, many entrepreneurs end up learning that the capital alone is no guarantee of success.

Many businesses such as the Internet bubble showed very well, began with millions in their coffers to finish in the "pipes". While a few businesses with shoestring budgets eventually grow to become extraordinary successes. How can this be?

Successful ventures not necessarily a contest of fat wallets.

On the contrary, is an eXERCISE of smart financial management, careful strategic planning and yes, very lucky?

Successful entrepreneurs know how to make the most of every peso or dollar they have. here 10 tips for entrepreneurs and entrepreneurs with limited financial means

1. Set realistic goals

The first step every entrepreneur / or should give for the launch of a new activity is properly determine the scope and size of your business.

Many entrepreneurs simply take to the idea of starting a business, not understanding what the company really means: the financial, management skills and technological expertise, human resource needs. Finally they fall short with what it can do.

Consider again the company has in mind and determine whether it is within a range achievable and desirable.

2. Plan your expenses properly

Many entrepreneurs start a business without any idea of costs. Or you overestimate the cost, or worse, they underestimate the financial resources necessary to properly capitalize the business. This is especially evident in the preparation of financial projections in your business plan.
Some entrepreneurs prepare financial projections with numbers that do not fit into other sections of the business plan (ie the section talks about marketing television campaigns with a budget of $ 200!). Some do not include a list of assumptions to explain that based their numbers.

Out of nowhere they feel their business can grow by 20% the first year and 40% in the second, without explaining how such growth can be achieved.

3. Finance your business intelligence

For many entrepreneurs there is no single source that allows you to finance the whole operation. The money from a source (eg the mother) may be sufficient to acquire the raw materials but still need money as working capital.

Entrepreneurs need to see the funding as the sum of the parts of your business: what you are an individual asset financing needs for business.

It should always ask: What is the best way to finance this asset using the least amount of dollars up front? The ideal source of financing is what provides the biggest pay period, at least interest, requires little or no collateral and demand no personal responsibility. Oh, almost a fairy tale. The next best option is to choose, given their priorities, which makes more sense for you and your business.

4. Put your money where fruition

Low-income entrepreneurs have one thing in common: they lack money and often struggle to find capital for your business. Capital for the launch of a company is going to one of these investments: "fixed assets" (furniture, furnishings and equipment), or "working assets" (inventory and working capital).

Despite the lack of capital, many entrepreneurs invest most money in office equipment and a very elegant chick (expenses that a company is struggling to emerge may well ignore). This is a common error in making decisions. Successful entrepreneurs invest every effort in working capital which brings cash-and sales-and least fixed assets.

5. Is this the right time?

Timing can be key to a successful implementation. There is an appropriate time and wrong time to open a business, especially if your business is cyclical or seasonal location. Opening a retail space in their favorite shopping mall, or your own convenience should not be your reasons for starting a business. Instead, you must plan carefully the months when the peak demand for the finished product.

6. Control your cash

It is said that the cash flow or cash flow is the lifeblood of a small business. And rightly so. Your business will survive only as long as you have cash to pay its financial obligations. With limited capital, cash flow controls every decision in companies with few resources, and may be the only way to surf during the initial phase. A key rule for entrepreneurs: only when you have enough cash can even begin to think of the benefits. Many businesses fail not because they do not have enough capital, but because they fail to plan properly the stage of capital shortage.

7. Impulse sales

Grow sales depends on several factors: the nature of the company, its location, the level of competition, and the intensity of the marketing and promotion that carried forward. The goal of every entrepreneur should scarce resources be getting sales immediately. If you have a bank loan or financed with credit card, for example, your creditors will not allow you to delay your payments just because you are still in the process of developing its sales. They want to charge! Now!

Hence needs to boost marketing your company, perhaps with some flyers this week, an ad in the local newspaper the next, or by sending newsletters and contribute articles. The key rule is to dedicate at least 2 hours a day to marketing. Learn the steps it will take before and after opening to maximize sales and help the business to rush the sales growth.

8. Balance your sales and profit targets

Sales and profit do not always go together. Some entrepreneurs are willing to cut their benefits in an effort to improve sales. Often the volume by itself will not be able to compensate for loss of profits. Try to maintain gross profit at least equal to the average of that activity. Strive to strike a balance between a solid policy of capturing sales without sacrificing profit margins required.

9. Sea "thin / o and miserable"

A company need not struggle to wrest dead weights. Keep your fixed costs low and only spend on things that can help to substantially improve what is essential. If you can still function properly since the office that you have at home, no need to lease office space in the downtown area. Avoid hiring a permanent employee if you can still manage with temporary and seasonal.

Every dollar spent must be directly linked to income: Spend a nickel (5 ctvs) only when you are safe or that you get 10 cents of return :-).

10. Use financial tools

As owner / or your business, you are responsible for life and growth of your business. That involves knowing not only the marketing or production aspects of your business but the financial tools they need to manage your business effectively. Understanding the finances of your business will give you control its direction.

Although this may be unpalatable to some entrepreneurs, knowing the economics of the business will tell you where they've been, where you are going and how fast it will come. Of course you can hire an accountant or someone to carry the books, but yourself or MUST understand your cash flow (cash flow), revenue, profit and loss statements and balance point (break-even-point)

It is the franchising business for me?

Many people are familiar with the concept of franchise or franchising.

The franchise concept

The franchise is a type of contract used in commerce by which a called party gives to another call franchiser franchisee License a brand and methods of doing business in exchange for a periodic fee or royalty. The relief is to build on the experience of a businessman / woman who has achieved competitive advantage outstanding in the market.

That advantage may consist of a prestigious brand, products or patented methods or simply a deep understanding of the business that makes it knows the formula of profit.

Through the franchise agreement, the franchiser agrees to convey some of these values to the franchisee and it achieves a significant reduction in investment requirements and risk.

Sometimes legal agreements may vary the terms of certain franchise and not correspond exactly with the above definition. Sometimes the methods on how to do business can not be part of the franchise or other benefits not available to other franchises offer. Each case is unique and therefore it is necessary to look at the documentation for certain what it offers (and what you ask) the franchiser.

The franchises are known by the public food chains like McDonald's which today offers some relief strategies to attract a wider consumer market.

McDonald's became a household name after he was able to achieve greater consumer market that is not only limited to the United States and the Americas but also the rest of the world. The company behind this success is due precisely to the franchise system. Apart from renting the premises to the franchisee, also has a sales and cost of supplies charged to the franchisee.

For the quality of food served at each location is consistent throughout the chain, McDonald's sent to each member of the franchise to its Hamburger University in Oak Brook, Illinois.
As with any business, there are advantages and disadvantages of franchising offers to all who wish to venture into this business model.

Advantages of franchising

Popular brands are well known and are more likely to sell. It is selling a "tag" well known to a market of consumers who know the product very well.

No need to develop a new product that has not been sufficiently investigated.
In contrast, venture into a franchise allows the franchisee to access information on the franchiser has an existing product and operate a proven business in a short period of time.

The franchiser provides its franchisees training and seminars on the product in question. It will be easier for the franchisee to operate and manage the business as it has available training and other support provided by the franchiser.

Disadvantages of franchising

The high standards of the franchiser increase maintenance costs of the franchise. Because the franchiser's standards will inevitably be high, sometimes the cost of keeping a franchise can be increased, unless the materials are second quality and low cost.

The development of new products may need approval by the franchiser. If the franchisee would like to add a product you think would be salable in your market range, the new product must first be approved by the franchiser and this can take time and be rejected if it meets the standards of the brand.

The benefit is limited given that the franchiser has an interest in general about the benefits of the franchise. Not only the franchisee has little control over the franchise (because there are many interests at stake) but also the benefit of the franchise will be divided between the two parties. Therefore, there is a limit to what the franchisee can earn.

Even if the franchises have several disadvantages, this business model also has significant advantages. If you think you can handle this type of business, all I can say is that every business has its risks that you must evaluate.

In virtually every industry you choose there are several major players offering franchising its business model. Analyze it thoroughly and see the terms of a lawyer / a specialist on the subject. And if you can, Talk to other franchisees of the chain shortlisted the people already in business can provide important details that might tip the balance in favor or against.