If you are thinking about buying a franchise, there are many opportunities in a variety of industries that you may find suitable. However, there are so many franchise opportunities now that many franchise opportunity scams are surfacing as well. You will have to be wary of these scams while searching for your perfect franchise opportunity, and take precautions so as not to fall prey to them. The most important thing to keep in mind is to avoid things that are too good to be true. If a franchise opportunity presents itself and the franchisor is promising that you will make a lot of money in a short time with little effort, this is very unlikely to be true. The franchisor will go back on their promises and leave you out whatever money you have given to them. If you are going to buy a franchise you have to be prepared to work hard if you want to be successful. You are not going to be able to go into business for yourself and make money if you are expecting to expend little effort. As for the amount of time in which you will see returns, that can vary from franchise to franchise.
Another thing to avoid is franchise opportunities which are advertised in infomercials on TV. A good franchisor will not advertise this way, and an infomercial for any product, franchise or otherwise, should raise doubts for us if we’ve ever bought anything “As Seen on TV.” You should also look out for franchisors who are trying to rush you into making a decision with things like limited time offers. They are trying to trick you into something that you will regret if you do not take your time deciding on their franchise opportunity.
There are certain things you can do to research the company you are thinking aboutbuying a franchise from beforehand to avoid getting caught up in scams that may not be as obvious as those seen in an infomercial. Find out if there have been any lawsuits filed against the company. You can also talk to current franchisees to find out if the franchisor is up to no good or if they do all that they promise to do. You should also check with the better business bureau to find out if they have any unresolved complaints. In general, find out as much as you possibly can about the company. Keep in mind that they could have changed their name if they are a scam business.
Finally, make sure that the contract is everything it is supposed to be. If they promise that you will make a certain amount of money, you need to get it in writing in the contract, otherwise, you have no guarantee that they will follow through on that promise. Also, it is strongly recommended that you get a lawyer to read through the contract before you sign anything, no matter how confident you are in your ability to understand it and the reputability of the company.
Source: http://www.the-franchise-shop.com/articles/How-to-Avoid-a-Franchise-Scam_307.html
Tuesday, December 29, 2009
Grabbing a bite, Indians are lovin’ it!
BANGALORE: Amit Burman, vice-chairman of Dabur India, never thought that a casual stroll down one of south Delhi’s upcoming localities would
provide an idea for a unique business opportunity.
In 2006, the US-returned Burman and his friend Rohit Aggarwal were in Saket, standing outside one of the outlets of the international chain, Subway. The place was crowded, with people, especially in the 18-35 age group, buzzing in and out constantly. Burman and Aggarwal paused their conversation and wondered if there was a business opportunity here.
“Franchising Subway began as a hobby,” Burman says laughing. In the initial months, the team had to work on creating the sandwich category and tailoring it to local tastes. The classic cold-cut turkey and tuna subs had to share space with chicken tikka and chicken seekh kabab fare. “People were very doubtful about the venture and would ask if I planned to make sandwiches all my life,” jokes Burman.
He needn’t have worried. In three years, Burman’s Lite Bite Foods has become Subway’s largest franchisee in India. The company operates 40 quick- service restaurant (QSR) outlets and has added other international brands apart from Subway to its menu. Street Foods of India serves roti-kababs and rajma-chawal though kiosks, bakery cafe Bakers Street at airports, Pino’s Pasta Pizza and Rapps. It will also franchise US-based fried chicken brand Pollo Campero in the next few months. “We intend to become a restaurant chain with 200 outlets, including 30 QSRs, in three years,” he added.
Consumers’ growing penchant for eating out and taking quick meals in between long working hours has spawned a boom in the Indian QSR industry. Across the country, businessmen are either venturing into QSR market on their own or through franchisee tie-ups with foreign chains such as Domino’s and Papa John. Unlike fine dining restaurants, QSRs largely operate through smaller self-service outlets that provide value-for-money food that can also be consumed while on the go. It is estimated to be worth about Rs 2,500 crore and is growing at 30-40% annually.
Bangalore, which is a favoured choice for many people to open restaurants, has also seen an explosion in the number of QSRs in the recent past. This includes Spencer’s Retail’s Au Bon Pain, Global Franchisee Architects’s Cream and Fudge Factory and Donut Baker as well as Italian coffee brand Caffe Pascucci. US chain Melting Pot is ready to invest $5-$7.5 million in the Indian market by 2010.
“Many international franchise food brands are successfully operating in the country and these success stories have sent positive signals to other US franchisors to actively look at India for expansion,” said US Consulate’s principal commercial officer, Aileen Crowe Nandi. The consulate recently held a programme to introduce Indian entrepreneurs to American fast-food outlets such as CKE Restaurants, Round Table Pizza, Tropical Sno, Melting Pot and Church’s Chicken.
QSR segment operates on a high volume-low margin business model. Not only does it focus on delivering products with speed within high footfall areas but its ability to push sales even in recent months by tapping into captive audiences at malls, educational institutions and airports through evolving formats such as kiosks, drive-ins or even take-away joints has been critical.
“India offers tremendous opportunity due to its sheer size which will see the Papa John’s outlets quadruple to 100 in four years,” said Tapan
Vaidya, general manager, restaurant division, of the Jawad Business Group—the franchisee for pizza take-away chain Papa John’s in India and Middle East.
International brands are not the only ones to cash in on this trend. Local entrepreneurs have jumped into the fray with different concepts and ideas. Sunil Cherian, who runs the Chennai-based Burgerman is one such. Burgerman’s core business proposition is to offer 25 burger variants within a 25 sq ft kiosk. With 50 outlets in Chennai and 30 in Bangalore by the month-end, the chain has tied up with retail chains to grab captive consumers at Big Bazaar, Foodworld, Nilgiris or even HPCL and BPCL.
BuddyChef, which comes from the stables of Pune’s organic farming firm Orgreen, aims to sell pre-cooked Indian and Chinese meals under $1 across every pin code. With seven outlets across Pune, it is selling 5,000 meals a day across the counter to working couples, students and small offices.
Franchising has been a catalyst in fuelling the QSR concept in India. Sanjesh Thakur, Ernst & Young’s associate director, retail & consumer products practice, says that around 17% of the F&B outlets within the organised sector are operated through franchisees and over 30% of the upcoming outlets are projected to be based on this model.
The QSR trend was kicked off by the likes of McDonald’s and Yum! Restaurant’s KFC, which began operations in the 1990s. “Since the market opened up in the ‘90s, consumer habits including eating-out behaviour has gradually undergone a change,” said KFC India’s marketing director Unnat Varma. KFC added 27 outlets last year taking its total count to 72.
All this growth needs money and investors have started opening their purses to the industry.
Bangalore-based East West Ethnic Foods, the holding company of wraps chain Kaati Zone which is adding 100 outlets by next fiscal across Maharashtra, is in talks with two-three private equity players to raise between Rs 12-15 crore.
It received its first round of funding from Accel Partners India, Draper Investment company and the founder of Helion Ventures, Ashish Gupta.
Source: http://economictimes.indiatimes.com/News/News-By-Industry/Services/Hotels-/-Restaurants/Grabbing-a-bite-Indians-are-lovin-it/articleshow/5393087.cms?curpg=1
provide an idea for a unique business opportunity.
In 2006, the US-returned Burman and his friend Rohit Aggarwal were in Saket, standing outside one of the outlets of the international chain, Subway. The place was crowded, with people, especially in the 18-35 age group, buzzing in and out constantly. Burman and Aggarwal paused their conversation and wondered if there was a business opportunity here.
“Franchising Subway began as a hobby,” Burman says laughing. In the initial months, the team had to work on creating the sandwich category and tailoring it to local tastes. The classic cold-cut turkey and tuna subs had to share space with chicken tikka and chicken seekh kabab fare. “People were very doubtful about the venture and would ask if I planned to make sandwiches all my life,” jokes Burman.
He needn’t have worried. In three years, Burman’s Lite Bite Foods has become Subway’s largest franchisee in India. The company operates 40 quick- service restaurant (QSR) outlets and has added other international brands apart from Subway to its menu. Street Foods of India serves roti-kababs and rajma-chawal though kiosks, bakery cafe Bakers Street at airports, Pino’s Pasta Pizza and Rapps. It will also franchise US-based fried chicken brand Pollo Campero in the next few months. “We intend to become a restaurant chain with 200 outlets, including 30 QSRs, in three years,” he added.
Consumers’ growing penchant for eating out and taking quick meals in between long working hours has spawned a boom in the Indian QSR industry. Across the country, businessmen are either venturing into QSR market on their own or through franchisee tie-ups with foreign chains such as Domino’s and Papa John. Unlike fine dining restaurants, QSRs largely operate through smaller self-service outlets that provide value-for-money food that can also be consumed while on the go. It is estimated to be worth about Rs 2,500 crore and is growing at 30-40% annually.
Bangalore, which is a favoured choice for many people to open restaurants, has also seen an explosion in the number of QSRs in the recent past. This includes Spencer’s Retail’s Au Bon Pain, Global Franchisee Architects’s Cream and Fudge Factory and Donut Baker as well as Italian coffee brand Caffe Pascucci. US chain Melting Pot is ready to invest $5-$7.5 million in the Indian market by 2010.
“Many international franchise food brands are successfully operating in the country and these success stories have sent positive signals to other US franchisors to actively look at India for expansion,” said US Consulate’s principal commercial officer, Aileen Crowe Nandi. The consulate recently held a programme to introduce Indian entrepreneurs to American fast-food outlets such as CKE Restaurants, Round Table Pizza, Tropical Sno, Melting Pot and Church’s Chicken.
QSR segment operates on a high volume-low margin business model. Not only does it focus on delivering products with speed within high footfall areas but its ability to push sales even in recent months by tapping into captive audiences at malls, educational institutions and airports through evolving formats such as kiosks, drive-ins or even take-away joints has been critical.
“India offers tremendous opportunity due to its sheer size which will see the Papa John’s outlets quadruple to 100 in four years,” said Tapan
Vaidya, general manager, restaurant division, of the Jawad Business Group—the franchisee for pizza take-away chain Papa John’s in India and Middle East.
International brands are not the only ones to cash in on this trend. Local entrepreneurs have jumped into the fray with different concepts and ideas. Sunil Cherian, who runs the Chennai-based Burgerman is one such. Burgerman’s core business proposition is to offer 25 burger variants within a 25 sq ft kiosk. With 50 outlets in Chennai and 30 in Bangalore by the month-end, the chain has tied up with retail chains to grab captive consumers at Big Bazaar, Foodworld, Nilgiris or even HPCL and BPCL.
BuddyChef, which comes from the stables of Pune’s organic farming firm Orgreen, aims to sell pre-cooked Indian and Chinese meals under $1 across every pin code. With seven outlets across Pune, it is selling 5,000 meals a day across the counter to working couples, students and small offices.
Franchising has been a catalyst in fuelling the QSR concept in India. Sanjesh Thakur, Ernst & Young’s associate director, retail & consumer products practice, says that around 17% of the F&B outlets within the organised sector are operated through franchisees and over 30% of the upcoming outlets are projected to be based on this model.
The QSR trend was kicked off by the likes of McDonald’s and Yum! Restaurant’s KFC, which began operations in the 1990s. “Since the market opened up in the ‘90s, consumer habits including eating-out behaviour has gradually undergone a change,” said KFC India’s marketing director Unnat Varma. KFC added 27 outlets last year taking its total count to 72.
All this growth needs money and investors have started opening their purses to the industry.
Bangalore-based East West Ethnic Foods, the holding company of wraps chain Kaati Zone which is adding 100 outlets by next fiscal across Maharashtra, is in talks with two-three private equity players to raise between Rs 12-15 crore.
It received its first round of funding from Accel Partners India, Draper Investment company and the founder of Helion Ventures, Ashish Gupta.
Source: http://economictimes.indiatimes.com/News/News-By-Industry/Services/Hotels-/-Restaurants/Grabbing-a-bite-Indians-are-lovin-it/articleshow/5393087.cms?curpg=1
Franchise Tip: Make Your Franchise Stand Out
Mark Siebert wrote a great story for Entrepreneur Magazine about making your franchise stand out. Among the useful tips he shares for franchisors seeking to make their business rise above their competition include:
• Find Your Small Pond – This is useful advice. Understand that most people seeking a business want a business that will represent their skill base. A person who likes books is more likely to buy a book selling franchise than an automotive shop. Find your niche and stick with it.
• The 4 Sales You Must Make – Invaluable to understand if you expect to sell your franchise. Every potential franchisee ask themselves these four questions:
1. Should I go into business for myself?
2. Should I go into the widget business?
3. Should I go it alone or buy a franchise?
4. Should I buy your widget franchise?
Can you answer them?
• Be Unique – No business will ever survive without being unique. How do you stand out? What makes your franchise different?
• More Than One Way – There is no one way to succeed at franchising. You’ve got to find yourway.
If you are looking to franchise your business you need to make your business stand out. I would also add this tip to those four:
• Write A Franchisee Profile – Who is your ideal franchisee? Make a list of attributes and interests that franchisee might have. For instance, is it a middle-aged woman between the ages of 35 and 50? Is it a young single millionaire with additional investment income laying around? Know who your target is and make everything you do reach for that target.
These tips should help you get the ball rolling.
Source: http://www.stumbleupon.com/su/9quazQ/www.redhotfranchises.com/franchiseopportunities/franchise-tips/franchise-tip-make-your-franchise-stand-out/12/18/2007/
• Find Your Small Pond – This is useful advice. Understand that most people seeking a business want a business that will represent their skill base. A person who likes books is more likely to buy a book selling franchise than an automotive shop. Find your niche and stick with it.
• The 4 Sales You Must Make – Invaluable to understand if you expect to sell your franchise. Every potential franchisee ask themselves these four questions:
1. Should I go into business for myself?
2. Should I go into the widget business?
3. Should I go it alone or buy a franchise?
4. Should I buy your widget franchise?
Can you answer them?
• Be Unique – No business will ever survive without being unique. How do you stand out? What makes your franchise different?
• More Than One Way – There is no one way to succeed at franchising. You’ve got to find yourway.
If you are looking to franchise your business you need to make your business stand out. I would also add this tip to those four:
• Write A Franchisee Profile – Who is your ideal franchisee? Make a list of attributes and interests that franchisee might have. For instance, is it a middle-aged woman between the ages of 35 and 50? Is it a young single millionaire with additional investment income laying around? Know who your target is and make everything you do reach for that target.
These tips should help you get the ball rolling.
Source: http://www.stumbleupon.com/su/9quazQ/www.redhotfranchises.com/franchiseopportunities/franchise-tips/franchise-tip-make-your-franchise-stand-out/12/18/2007/
Wednesday, December 23, 2009
Friday, December 18, 2009
5 mistakes that most start-ups make
It is alright to make mistakes and learn from them. But it is always better to learn from other peoples’ mistakes. And when it comes to starting your own business, it is still better to recognize the mistakes that most of the businessmen make; after all it’s the question of your business.
Here we list 5 starts-up mistakes that almost everybody makes:
Undeveloped Startup Idea - No matter how good your business idea is, if you fail to develop it, success will be far from you. “Document the idea well. That is the road map that you have to follow while you are doing business and that is the road that will lead you to success,” says Nandini Vaidyanathan a mentor for start-ups.
Ignoring legal obligations - Most entrepreneurs start small and so do not care about even the basic legal aspects of a business like getting registered. Every entrepreneur must understand and secure all necessary licenses and permits and also pay the required taxes.
Lack of financial management – “Start-ups usually mixe their personal and business finances. This does not cause immediate trouble but later in the business it becomes difficult to get tax benefits and avail finances from venture capitalists and other sources,” says Kartik Varma, Co-Founder, iTrust who is a financial adviser to numerous entrepreneurs and is also an entrepreneur himself.
Lack of enough liquid assets - “One should have enough liquid assets to sustain for at least one year,” says Varma. People usually start their business without realizing that for quiet sometime it might not bring in money and so they will have to keep putting in money to keep it going.
Unplanned web presence - The internet is how people come to know of products and services these days. “If you aren't doing at least some part of your business over the Web, you're missing out on a huge opportunity. Today, the Web forms either an integral part of the business or a fabulous means to extend it,” says an executive from the Blue Apple Technologies Pvt. Ltd.
Lack of perseverance - Start-ups loose patience when their efforts do not yield the desired results immediately. Sanjeev Bikhchandani, co-founder and CEO of naukri.com says, “Everybody makes their share of mistakes. Sometimes you are right sometimes you are wrong. But what one should not loose is patience and perseverance. They are the key to success.”
Source: http://sme.franchiseindia.com/article.php?title=5+mistakes+that+most+start-ups+make
Here we list 5 starts-up mistakes that almost everybody makes:
Undeveloped Startup Idea - No matter how good your business idea is, if you fail to develop it, success will be far from you. “Document the idea well. That is the road map that you have to follow while you are doing business and that is the road that will lead you to success,” says Nandini Vaidyanathan a mentor for start-ups.
Ignoring legal obligations - Most entrepreneurs start small and so do not care about even the basic legal aspects of a business like getting registered. Every entrepreneur must understand and secure all necessary licenses and permits and also pay the required taxes.
Lack of financial management – “Start-ups usually mixe their personal and business finances. This does not cause immediate trouble but later in the business it becomes difficult to get tax benefits and avail finances from venture capitalists and other sources,” says Kartik Varma, Co-Founder, iTrust who is a financial adviser to numerous entrepreneurs and is also an entrepreneur himself.
Lack of enough liquid assets - “One should have enough liquid assets to sustain for at least one year,” says Varma. People usually start their business without realizing that for quiet sometime it might not bring in money and so they will have to keep putting in money to keep it going.
Unplanned web presence - The internet is how people come to know of products and services these days. “If you aren't doing at least some part of your business over the Web, you're missing out on a huge opportunity. Today, the Web forms either an integral part of the business or a fabulous means to extend it,” says an executive from the Blue Apple Technologies Pvt. Ltd.
Lack of perseverance - Start-ups loose patience when their efforts do not yield the desired results immediately. Sanjeev Bikhchandani, co-founder and CEO of naukri.com says, “Everybody makes their share of mistakes. Sometimes you are right sometimes you are wrong. But what one should not loose is patience and perseverance. They are the key to success.”
Source: http://sme.franchiseindia.com/article.php?title=5+mistakes+that+most+start-ups+make
Swiss Smile Dental Clinics - Europe's leading Dental Services Brand - enters India
This is Swiss Smile Dental Clinics' first foray outside Europe; Swiss Smile Dental Clinics India Pvt. Ltd. to have state-of-the-art facilities and foreign trained consultants; First clinic to open in January 2010 in Bangalore giving a boost to Dental tourism in India
Bengaluru, Karnataka, December 18, 2009 /India PRwire/ -- Swiss Smile Dental Clinics - Europe's leading dental service brand - today announced the launch of its India operations. Marking its first foray outside Europe, Swiss Smile is venturing into India to bring its world class services to one of the largest dentistry markets in the world. Swiss Smile Dental Clinics India will have state-of-the-art facilities and foreign trained consultants providing co-ordinated specialized next generation dental care to customers, all under one roof.
Swiss Smile is entering India through a Joint Venture (JV) between Global Tech Park - an investment firm with interests in real estate, design engineering and health care - and Swiss Smile Holdings. Global Tech Park would be holding 50% stake in the JV while Swiss Smile Holdings would hold the remaining 50%.
Speaking on Swiss Smile Dental Clinics' first foray outside Europe, Mr. Clifford Zur Nieden - Member of the Board, Swiss Smile Holdings said, "The dental segment is one of the most attractive segments of the health care industry with an estimated market size of about US$18.8 billion in 2008. Worldwide, this market is dominated by US, Europe and Japan. However, an increasingly aging population coupled with growing awareness of oral health and dental aesthetics and greater availability of improved dental treatment have boosted the growth of this segment in India. In addition, increasing disposable incomes and a large emerging middle class offer enormous potential for dentistry in India".
Elaborating on the significance of the launch of Swiss Smile Dental Clinics' operations in India, Mr. Zur Nieden said, "India needs to leapfrog to reach the level of technological development that Western countries have achieved in dentistry. India is in need of international expertise and this can only be achieved by setting up world class dental facilities like the Swiss Smile Dental Clinic. There is an enormous demand supply gap for world class organized facilities in the Indian dental market and we aim to bridge this gap".
Speaking on the plans of Swiss Smile Dental Clinics India, Dr. Sathya Kallur - CEO & Director of Clinical Operations- Swiss Smile Dental Clinics India said, "Although dental care remains a luxury for much of India's vast population, the market for dentistry is expanding as a result of the strengthening economy and an increase in the country's middle class across major cities such as Bangalore, New Delhi, Hyderabad etc. To respond to the growing consumer health care needs and expectations, we are setting up our first clinic in Bangalore followed by other markets like Hyderabad, Mumbai, Chandigarh, NCR, Ahmedabad, Chennai, Kolkata and Pune."
Articulating the vision of Swiss Smile Dental Clinic India, Dr. Sathya said, "We are planning to set up 10 state-of-the art dental care facilities in India within the next 3 years. Our vision is to provide multi-specialty dental care under one roof under the guidance of internationally acclaimed and trained dental specialists. The Indian dental market lacks an organized professional outfit and with the Swiss Smile technological expertise and state-of-the-art facilities, we are sure to bring in a positive change in the state of Indian dentistry."
Elaborating on the medical tourism potential and opportunity, Dr. Sathya said, "We also aim at contributing to the Indian medical tourism industry which is expected to experience an annual growth of 30% making it a Rs. 9,500 crore industry by 2015. The estimate of the value of medical tourism to India is to the tune of $2 billion a year by 2012. The dental tourism in India would account for 10% of the total medical tourism. In India, any dental service is 60% to 70% cheaper than Europe or the US. We therefore, aim to contribute to medical tourism in India by offering quality services at reasonable prices".
Speaking on the JV, Mr. Satish CMD - Swiss Smile Dental Clinics India & CMD - CEO - Global Tech Park - said, "The dental care segment offers a tremendous opportunity in India. We feel there is a need for a technologically advanced, world class facility providing international services to the Indian customer. Hence this JV with Swiss Smile Holding".
Notes to Editor
Swiss Smile Dental Clinics (www.swisssmile.com) - Swiss Smile Dental Clinics was started by Haleh and Golnar Abivardi and is successfully running clinics in Zurich, St. Moritz and London. The Swiss Smile Dental Clinics are dedicated to promoting healthy and beautiful teeth. Equipped with the latest technology, a team of highly qualified dental specialists take care of customers providing a truly world class experience. Swiss Smile Dental Clinics services encompass all areas of dental health including aesthetic dentistry, orthodontics, parodontology, oral surgery, emergency treatments and children's dentistry. Swiss Smile provides the security of in-house treatments at every stage, delivered by a highly competent and co-operative team which guarantees high levels of professionalism in all major areas of dental treatment.
Global Tech Park Pvt. Ltd. - is an investment company based in Bangalore with interests in the areas of real-estate, IT, design engineering and Healthcare. Global Tech Park has till date invested in companies like EDRC Technologies Pvt. Ltd.; Hands Free Networks, Global tech park - Tech Park Infrastructure Creation.
Source: http://www.indiaprwire.com/pressrelease/health-care/2009121839811.htm
Bengaluru, Karnataka, December 18, 2009 /India PRwire/ -- Swiss Smile Dental Clinics - Europe's leading dental service brand - today announced the launch of its India operations. Marking its first foray outside Europe, Swiss Smile is venturing into India to bring its world class services to one of the largest dentistry markets in the world. Swiss Smile Dental Clinics India will have state-of-the-art facilities and foreign trained consultants providing co-ordinated specialized next generation dental care to customers, all under one roof.
Swiss Smile is entering India through a Joint Venture (JV) between Global Tech Park - an investment firm with interests in real estate, design engineering and health care - and Swiss Smile Holdings. Global Tech Park would be holding 50% stake in the JV while Swiss Smile Holdings would hold the remaining 50%.
Speaking on Swiss Smile Dental Clinics' first foray outside Europe, Mr. Clifford Zur Nieden - Member of the Board, Swiss Smile Holdings said, "The dental segment is one of the most attractive segments of the health care industry with an estimated market size of about US$18.8 billion in 2008. Worldwide, this market is dominated by US, Europe and Japan. However, an increasingly aging population coupled with growing awareness of oral health and dental aesthetics and greater availability of improved dental treatment have boosted the growth of this segment in India. In addition, increasing disposable incomes and a large emerging middle class offer enormous potential for dentistry in India".
Elaborating on the significance of the launch of Swiss Smile Dental Clinics' operations in India, Mr. Zur Nieden said, "India needs to leapfrog to reach the level of technological development that Western countries have achieved in dentistry. India is in need of international expertise and this can only be achieved by setting up world class dental facilities like the Swiss Smile Dental Clinic. There is an enormous demand supply gap for world class organized facilities in the Indian dental market and we aim to bridge this gap".
Speaking on the plans of Swiss Smile Dental Clinics India, Dr. Sathya Kallur - CEO & Director of Clinical Operations- Swiss Smile Dental Clinics India said, "Although dental care remains a luxury for much of India's vast population, the market for dentistry is expanding as a result of the strengthening economy and an increase in the country's middle class across major cities such as Bangalore, New Delhi, Hyderabad etc. To respond to the growing consumer health care needs and expectations, we are setting up our first clinic in Bangalore followed by other markets like Hyderabad, Mumbai, Chandigarh, NCR, Ahmedabad, Chennai, Kolkata and Pune."
Articulating the vision of Swiss Smile Dental Clinic India, Dr. Sathya said, "We are planning to set up 10 state-of-the art dental care facilities in India within the next 3 years. Our vision is to provide multi-specialty dental care under one roof under the guidance of internationally acclaimed and trained dental specialists. The Indian dental market lacks an organized professional outfit and with the Swiss Smile technological expertise and state-of-the-art facilities, we are sure to bring in a positive change in the state of Indian dentistry."
Elaborating on the medical tourism potential and opportunity, Dr. Sathya said, "We also aim at contributing to the Indian medical tourism industry which is expected to experience an annual growth of 30% making it a Rs. 9,500 crore industry by 2015. The estimate of the value of medical tourism to India is to the tune of $2 billion a year by 2012. The dental tourism in India would account for 10% of the total medical tourism. In India, any dental service is 60% to 70% cheaper than Europe or the US. We therefore, aim to contribute to medical tourism in India by offering quality services at reasonable prices".
Speaking on the JV, Mr. Satish CMD - Swiss Smile Dental Clinics India & CMD - CEO - Global Tech Park - said, "The dental care segment offers a tremendous opportunity in India. We feel there is a need for a technologically advanced, world class facility providing international services to the Indian customer. Hence this JV with Swiss Smile Holding".
Notes to Editor
Swiss Smile Dental Clinics (www.swisssmile.com) - Swiss Smile Dental Clinics was started by Haleh and Golnar Abivardi and is successfully running clinics in Zurich, St. Moritz and London. The Swiss Smile Dental Clinics are dedicated to promoting healthy and beautiful teeth. Equipped with the latest technology, a team of highly qualified dental specialists take care of customers providing a truly world class experience. Swiss Smile Dental Clinics services encompass all areas of dental health including aesthetic dentistry, orthodontics, parodontology, oral surgery, emergency treatments and children's dentistry. Swiss Smile provides the security of in-house treatments at every stage, delivered by a highly competent and co-operative team which guarantees high levels of professionalism in all major areas of dental treatment.
Global Tech Park Pvt. Ltd. - is an investment company based in Bangalore with interests in the areas of real-estate, IT, design engineering and Healthcare. Global Tech Park has till date invested in companies like EDRC Technologies Pvt. Ltd.; Hands Free Networks, Global tech park - Tech Park Infrastructure Creation.
Source: http://www.indiaprwire.com/pressrelease/health-care/2009121839811.htm
Wednesday, December 16, 2009
Franchising: Yesterday, Today and Tomorrow
by Paul Segreto on December 14, 2009
As I often do on the weekends, I was searching through my personal library seeking out a book or two that might provide me some inspiration for an article or report, and this weekend, I came across a business book that was published back in 1979. The book, “Free Yourself in a Business of Your Own” by Byron Lane, caught my eye for reasons I cannot really explain. Obviously, I’ve had it in my possession for many years, yet, never opened it again since I purchased it for $1.29 at Target. It must have been a clearance book as the cover price was $5.95. Anyway, I can’t even recall seeing it when I routinely search through my library. It’s like it suddenly jumped out front and center and said, “Hey, look here!”
Well, I decided to look through the book because the back cover stated, “This book is about freedom. Freedom from an 8 to 5 regimen. Freedom from dehumanizing democracies. Freedom from job boredom. Freedom from the lock-step culture. Freedom to do your work your way.” Hmmm… not much seems to have changed although lock-step culture is not one I’ve heard of before.
Right away, my thoughts turned to franchising and I began to think about what franchising was like back in 1979. Fortunately, I didn’t have to think very hard, as to my surprise, was a chapter on franchising! It’s placement was to present franchising strictly as an alternative to other forms of business ownership, and in a book with 174 pages, the franchising chapter comprised all of 3 pages. Yes, 3 pages!
Within these pages were a series of bullet points that I found very interesting and it made me wonder how much franchising had actually changed since 1979, and if the changes have improved franchising today. Read the bullet points below and you be the judge.
- While there are no federal laws governing franchising, most states have franchise laws. Get a copy of the law in your state and read it for degree of stringency and coverage. If it is a tough law and a franchising company qualifies to do business in your state, you have one measure of security.
- Don’t believe that acceptance of you by a franchiser means they have evaluated your ability to get the job done. Some franchisers would select a corpse if rigor mortis had not set in and if it clutched in its hand a certified check for the amount of the franchise fee. Do your own introspection and decide if you can handle the franchise.
- Do not deal with profit projections or average profits. Insist on actual financial statements from a cross-section of franchisees. Then, evaluate your expected return on investment.
- Get the financial statement of the parent company and evaluate its ability to provide the services it promises.
- Read the franchise contract. It should be simple, frank, and fair, with complete disclosure, not an instrument of repression. After you think it through with your head, listen to your gut and determine if the contract fits you.
- Finally, and perhaps most important of all, is evaluation of the franchiser’s management team. You should do this from two aspects – their management ability and their humanness. If the management does not measure up to good corporate standards, you will not get the profits you seek. You may turn out okay, but they can bring you down.
Well, it’s no wonder that many individuals had a distaste for franchising. I cringed at some of the statements implying unfairness and deceit, along with an apparent free-wheeling approach to franchising. On the other hand, some of the advice was sound and still applies today.
It’s obvious franchising has changed, and for the better. But, are some of the negatives that’s were stated (or implied) above, still actually cause for concern within franchise organizations today?
I wonder what future generations will think about franchising when they discover some of today’s book and articles on the subject?
Yes, you be the judge…
*By the way, the author is listed as having several advanced degrees in business and psychology, and was a professor at a leading California university. He is also credited with developing several successful companies including a multi-million dollar franchising chain!
As I often do on the weekends, I was searching through my personal library seeking out a book or two that might provide me some inspiration for an article or report, and this weekend, I came across a business book that was published back in 1979. The book, “Free Yourself in a Business of Your Own” by Byron Lane, caught my eye for reasons I cannot really explain. Obviously, I’ve had it in my possession for many years, yet, never opened it again since I purchased it for $1.29 at Target. It must have been a clearance book as the cover price was $5.95. Anyway, I can’t even recall seeing it when I routinely search through my library. It’s like it suddenly jumped out front and center and said, “Hey, look here!”
Well, I decided to look through the book because the back cover stated, “This book is about freedom. Freedom from an 8 to 5 regimen. Freedom from dehumanizing democracies. Freedom from job boredom. Freedom from the lock-step culture. Freedom to do your work your way.” Hmmm… not much seems to have changed although lock-step culture is not one I’ve heard of before.
Right away, my thoughts turned to franchising and I began to think about what franchising was like back in 1979. Fortunately, I didn’t have to think very hard, as to my surprise, was a chapter on franchising! It’s placement was to present franchising strictly as an alternative to other forms of business ownership, and in a book with 174 pages, the franchising chapter comprised all of 3 pages. Yes, 3 pages!
Within these pages were a series of bullet points that I found very interesting and it made me wonder how much franchising had actually changed since 1979, and if the changes have improved franchising today. Read the bullet points below and you be the judge.
- While there are no federal laws governing franchising, most states have franchise laws. Get a copy of the law in your state and read it for degree of stringency and coverage. If it is a tough law and a franchising company qualifies to do business in your state, you have one measure of security.
- Don’t believe that acceptance of you by a franchiser means they have evaluated your ability to get the job done. Some franchisers would select a corpse if rigor mortis had not set in and if it clutched in its hand a certified check for the amount of the franchise fee. Do your own introspection and decide if you can handle the franchise.
- Do not deal with profit projections or average profits. Insist on actual financial statements from a cross-section of franchisees. Then, evaluate your expected return on investment.
- Get the financial statement of the parent company and evaluate its ability to provide the services it promises.
- Read the franchise contract. It should be simple, frank, and fair, with complete disclosure, not an instrument of repression. After you think it through with your head, listen to your gut and determine if the contract fits you.
- Finally, and perhaps most important of all, is evaluation of the franchiser’s management team. You should do this from two aspects – their management ability and their humanness. If the management does not measure up to good corporate standards, you will not get the profits you seek. You may turn out okay, but they can bring you down.
Well, it’s no wonder that many individuals had a distaste for franchising. I cringed at some of the statements implying unfairness and deceit, along with an apparent free-wheeling approach to franchising. On the other hand, some of the advice was sound and still applies today.
It’s obvious franchising has changed, and for the better. But, are some of the negatives that’s were stated (or implied) above, still actually cause for concern within franchise organizations today?
I wonder what future generations will think about franchising when they discover some of today’s book and articles on the subject?
Yes, you be the judge…
*By the way, the author is listed as having several advanced degrees in business and psychology, and was a professor at a leading California university. He is also credited with developing several successful companies including a multi-million dollar franchising chain!
Subscribe to:
Posts (Atom)
