In light of the current economy, many people are thinking twice about starting independent business ventures; instead, they're looking to franchising. Why?
Franchisee Business Model's primary benefit is risk minimization. Starting a new business is risky. Most studies show that over 90 percent fail within three years. The primary reason that the failure rate is so high is because the owners
have to go through the learning curve of operating that specific type business.
Franchising reduces that curve substantially.
Franchisers sell a defined, proven business format or method of operation, offering a product or service that has sold successfully. An independent business is based on both an untried idea and operation.
The experience of the franchiser’s management team increases the potential for success. The primary reason that franchising is so successful is because the learning curve is transferred from the franchisor to the franchisee. The franchisor has
developed a successful system. If you are going to be a franchisee, you must be willing to stick to the system. You have to do things the franchisor's way. Not your way.
The closer your experience is to the type of business you are considering, the better are your chances of succeeding.
Operating a business requires wearing many hats. You have to be willing to do everything from managing inventories, finance, marketing & distribution.
Thinking of starting your own business, but don’t want to launch a business completely from scratch?
Then consider a franchise opportunity.
We believe in “ Together we can achieve more”, thus believe in teamwork. We have unique partnership opportunities for All India Distribution right/ Master franchisee, Innovative partnership proposal for pharma marketing experienced professionals
having entrepreneurial zeal & willing to start own venture.
Become Our Partner, Be Part of the Solace Biotech Success Story.
At Solace Biotech, we believe in partnering with like-minded professionals for a mutually beneficial relationship. We empower our partners with all the resources that they require to market our products, capitalize on upcoming opportunities,
maximize sales and enhance profitability.
Solace is an organization founded by entrepreneurs, fueled by entrepreneurs and focused on helping entrepreneurs succeed. As a dedicated franchise system, Solace offers a structured, professional and proven franchise system that can be used as
the foundation for building one’s own business.
You can partner with us by becoming a Solace Biotech franchisee. All our existing franchise partners have benefited immensely in terms of brand recognition and revenues. Franchise opportunities for Solace Biotech products are available for
certain select markets.
We support our current franchise partners with guaranteed territories and a comprehensive program to develop, operate and market the franchised concepts. If you are interested in partnering with us, please fill out the on-line franchise application form.
Solace Biotech started the exciting journey in 2000. Our achievements are the result of combined efforts of our team. During these years, Solace Biotech has successfully made its transition into a well
managed professional organization. We are elated to witness the growth story of SB written by dedicated team as our team share a passion for service and commitment to excellence that will ensure the Solace’s
future.Our system is one that demands constant growth and our success mantra is our focus on providing highest quality possible regardless of change in our environment.
We have network of 100+ franchisee who have been enjoying our unique franchisee ownership which is both financially and personally rewarding. Moreover our franchisee enjoy recognition,
reputation with the right mix of products presentations, pricing strategies, promotional inputs, encouragement & constant support system of our untiring team and are definitely excited for the growth to come.
We prefer to have professionals with pharma background as our franchisee who have passion to make franchisee business a grand success with consistent growth month after month. We strongly believe that great success is possible only &
only if our franchisee team is bubbling with confidence and is motivated.
We are excited to be able to offer this rewarding opportunity to franchisee… and they tell us they are just as excited as us.
Solace is doing what it takes to make a difference for every franchisee; a difference that will truly change the way you work. It's a promise that's deeply rooted in our belief that being a great franchisee provider requires more than
just the best products, but the best of support and service. The purpose is to relieve you from any and all of the worries, strains and unending inconveniences you have been facing in pharma franchisee business. Instead,
Solace takes on the burdens, going beyond what is acceptable customer service to what is exceptional, and often pushing beyond the exceptional to the truly inspired.
Considerations before making the decision to buy into a franchise
Doing your homework is essential–if you buy into the right one, you may find yourself running a very successful and profitable business.
On the other hand, a hasty decision made without proper consultation and research could end up leaving you in a financial hole you can’t climb out of.
Here are several things you should consider before making the decision to buy into a franchise.
Before you make a decision, learn about some of the benefits and drawbacks of franchisee business model so you can make an informed choice about your future.
Franchise Risk Factors :
Becoming a Franchisee business owner is a big decision that should be made with care, considering all the options.
One of the biggest benefits to franchising is marketing. The franchiser prepares and develops professional advertising and marketing tools which are time consuming & involves lot of cost.
Franchising provides a uniform system of operation, so as to provide uniform quality, efficiently and cost-effectively. A uniform system brings with it the advantages of mass purchasing power, brand identification, and customer loyalty, capitalizing on the proven format.
Achieving success does require a certain degree of inner strength. If you feel strong enough to make your franchise successful, then go for it.
If you are the kind of person who enjoys being in charge, then having the authority and responsibility for the success of the venture will not be a problem.
Being a negative person is a luxury you can ill afford in business. Negative thinking begets failure. You simply have to be a positive person in order to succeed in business.
A fundamental of human nature is that we always do well that which we love. If the franchise involves doing what you love, then you are way ahead. Or, which is more realistic, if you can fall in love with the franchise concept, that's the ideal.
With a franchise, you'll often start off with a strong supply base, which reduces some of the initial stress of opening a business.
You do have to be relatively self-reliant because you do have to manage the business day to day. However, one of the most significant benefits of owning a franchise is the support given by the franchisor. The phrase "You are in the business for yourself but not by yourself" is very true.
As with any business venture, your risk will be lowest if you plan ahead and thoroughly research every aspect of the franchise system you want to join. Approach the matter rationally and systematically, considering each of the following risk factors.
Franchise Risk Factor #1: Compatibility
Some people do not belong together; similarly; not all entrepreneurs and franchisers have chemistry. Even if a franchised business seems very appealing, you must consider your compatibility with its system, product/service and guiding philosophy.
How to reduce your risk
Find a franchise that inspires you. Are you fascinated by the product or service a franchise sells? If the work is not enjoyable, or even inspirational, you may struggle to succeed, even in a sound franchise system.
Confirm clearly about your investments & make plans to scale up your business as per budgets &,margins. Involving franchisor in making plans will be better option.
Franchise Risk Factor #3: Size and strength of the franchise system :
The number of locations a franchisor currently has is one indicator of its stability. A large franchise system typically has a proven product or service and can provide you with valuable experience. However, popular franchises are also in high demand, and rarely negotiate terms—a smaller, newer franchisor could make a great ground-floor opportunity.
How to reduce your risk
Know the franchisor's history:
A franchisor's number of locations is only half its story. Franchisers will sometimes buy out or close unsuccessful franchises to remove problems. To learn more, try asking the franchisor directly regarding his definition of successful franchisee operations, expectations and long term plans.
Understand details about franchise system offered thoroughly :
The franchisor's document and marketing materials can provide detailed information on the strength of the franchise system.
Franchise Risk Factor #4: Local market conditions
Consider if the franchise brands are a good fit for your territory and target market. Weather product packs, quality, pricing & other marketing inputs address the kind of marketing you have in plan. However, you mustn't believe everything you hear.
How to reduce your risk
Objectively evaluate the product or service :
Look past your enthusiasm and be objective about the quality of the franchisor's product or service. Ask the opinions of business peoples, friends and family—especially if they're part of your target market.
Evaluate the franchisor's prices :
The prices charged for the franchised product or service must be reasonable for your customer base. You may have little flexibility on price points, so consider this carefully.