Less investment by both parties as they come together and operate. Returns will be shared together as per the agreement between the parties.
Owner can operate at their franchise locations, they learn not only all the systems and operations, however can handle all the issues involved in it.
You will be able to observe and handle customers directly and assure them best services. You can monitor the performance of your employees.
The franchisee can also take advantage of expanding the business relationships which was already established by the franchisor. Relationships with suppliers and distributors will improve and easy to manage. It will cost less for advertisement and marketing even thou its a start up.
Franchisee will be offered the advantage of support and security system from Goldsikka. Goldsikka will train and audit the accounts, sales, advertising and services from time to time. Monitoring and support will be provided when needed.
A single-unit franchisee in which a franchisor(Goldsikka Limited) grants the franchisee to operate in just one location. The franchisee can use the franchisor’s trade name, service marks and operating system. A franchisee will enter into an agreement with Goldsikka Limited and will start its operations at a set location. The operations are managed by franchisee as per the guidelines of Goldsikka Limited
The benefits of starting out as a single-unit franchisee owner:
A franchise has an advantage of operating under the banner of an already established business. The ideas, the brand, the operating techniques and much more are already tried and tested and in place ready to be implemented again and again at a new location as each franchisee takes up the mantle.
Operating under the banner of a franchise allows a franchisee to take advantage of the previously established brand of the business. This means there will (in theory) be far less work (and cost) involved in trying to establish and build on the brand of the business. It will already be known and trusted by the market and therefore should produce a steady stream of brand-loyal customers. Adopting a franchise means the advantage of the franchises trademark and the benefits of a registered trademark.
Less investment by both parties as they come together and operate together. Returns will be shared together as per the agreement between the parties.
Yet another advantage of franchises is the fact that acquiring business finance is generally easier. Investors are far more willing to invest in a business with an established network, secure brand and effective support structure. In some instances, finance may be acquired from the franchisor, making life even simpler for the new business.
1. Location/territory: Goldsikka franchise agreement will designate the territory in which you will operate and outline any exclusivity rights you may have.
2. Operations: Goldsikka provide details as to how franchisees are expected to run their units.
3. Training and ongoing support: Goldsikka will offer training and training programs for franchisees and their staff. Training may take place at corporate offices or out in the field. All ongoing administrative and technical support will also be outlined in the agreement.
4. Duration: The duration of the agreement will be as per mutual agreement and it differs from party to party of the franchise agreement.
5. Franchise fee: There will be an upfront initial franchise fee that grants the franchisee the right to use the Goldsikka’s trademark and operating system. Franchise fee is not refundable.
6. Investment: Franchisee is required to make investment towards establishment of shop and related infrastructure.
7. Royalties/ongoing fees: Goldsikka royalty structure requires franchisees to pay an ongoing royalty, usually a percentage of total sales, which is often paid on a monthly basis.
8. Trademark/patent/signage: Goldsikka will outline how a franchisee can use the Goldsikka trademark, patent, logo and signage.
9. Advertising/marketing: The Goldsikka will reveal its advertising commitment and what fees franchisees are required to pay towards those costs.
10. Initial and ongoing training and support: Goldsikka will provide a host of pre-opening and continuing support, including training, quality control etc.
11. Renewal: Franchise can apply for renewal after expiry of contract however the renewal rights are exclusively reserve with Goldsikka.
12. Termination: Goldsikka will reserve the right to terminate franchise contract if it deems any action of franchisee is outside the law or contract. Our performance of franchise is not on par with acceptable level.
13. Cancellation policies. The franchise agreement will describe how the franchisee can be renewed or cancelled.
14. Exit strategies. Goldsikka may allow franchisees to sell their franchises upon approval from Goldsikka Or Goldsikka may buy back the franchise at a rate determined by its team or to match any potential buyer's offer.
15. Record keeping have to be carried out by franchisee
16. Site selection and development: Franchisees have to find their own sites and develop them according to the Goldsikka standards. However franchisee needs to take Goldsikka approval before for location.
17. Insurance requirements: Franchise agreements will define the minimum insurance a franchisee is required to have prior to opening and during the term of the agreement.
18. Non Disclosure Agreement(NDA): Franchisee has to sign a NDA, that franchisee will not share any confidential information or trade secret or policies of Goldsikka with competitors or anyone else.
19. Franchisee cannot carry out any other business activity in the premises than what has been agreed with Goldsikka.
20. Goldsikka will not have any liability emerging from the actions of franchisee