Sustaining Innovation in Your Organization – Tracking Your Success Part 6 of 6

You have determined that your company is ready to start a
growth portfolio, you have included a group of products that you feel
will allow your company to be innovative and have the best chance at
growing profits, and you have been careful to avoid pitfalls such as
rolling out too many products or hanging on to past successes and not
pressing forward.� So what’s next? How do you measure the success of
your innovation portfolio?�

Tracking Your Success

There
are two ways of tracking your success: quantitatively and
qualitatively.� Quantitative measures include numbers of new customers
obtained, growth as a percentage of sales from the new products or the
overall ROI from an individual product.� The qualitative method of
measurement goes deeper than just the numbers.� These measurements track
how well the product was received by the target market, or by the
market as a whole, how it affected the perceptions of your company, or
how much effort went into effectively managing the portfolio.�

In
order to achieve both qualitative and quantitative results, extensive
market research must be conducted after the product is launched and
established in the market.� Depending on when, how, and where your
product was launched, you are going to receive different data from
different regions.� You must determine if certain technologies are more
widely accepted in different regions of the country, during different
times of the year, etc.� Being able to properly analyze this data will
allow your company to improve its growth and success during its next
product launch.� Successfully analyzing your previous product rollouts,
whether huge successes or colossal failures, is an important step
towards keeping innovation moving forward in your company.�

A
big part of innovation is staying on top of market trends, understanding
customer needs and wants, and consistently looking to the future to
grow the company, not relying on past successes to keep the company
afloat.� The best way to remain ahead of the curve when it comes to
market innovation is understanding� how to effectively gauge the success
of past campaigns and applying methods that work to your future growth
portfolio projects.�

If you missed our last article about Delivering on Target or any of our past articles on effectively sustaining innovation in your company, you can find all of them here.

Organizing Work Using Distributed Management

Keeping work organized is a major challenge. There is a strong relationship between the effectiveness of work organization and productivity; so better organization usually improves ROI.
People do work, so work organization is largely about how people are organized and most importantly, how people organize themselves. Gone are the days, when managers were able to organize every action that each person is doing.
People are more dispersed, changes are more frequent, and there are less managers and supervisors. So the only way forward, seems to be to make it easier for people doing the work to more easily contribute to organizing work. This means that the traditional management approaches that centralize organizing activities around managers need to be more distributed amongst the people doing the work.
Distributed management is a management method for people to work together over the web to accomplish desired goals. Management activities are distributed through the people doing the work. The key concepts of Distributed Management are discussed at http://en.wikipedia.org/wiki/Distributed_management.
I have been developing distributed management methods and web software to apply those methods for over 10 years. The great thing about software is that it forces you to confront the real world issues that make distributed management hard to implement.
For example, organizations usually want to control the task and process information that organization members create. This information is the organizations intellectual property and usually is core to the organizations competitive advantage. But in these days of outsourcing, people outside an organization need to be involved in organization tasks and processes.
For distributed management to function, there needs to be a relatively free flow of relevant information between the people involved from anywhere at any time, but security and privacy also need to be an integral part of the process.
For a distributed management method to become mainstream, it needs to be able to easily manage tens of thousands of people globally, doing tens of thousands of tasks, in close to real-time. Smart software is required to keep work organized with minimum effort from managers and others. Web and mobile browsers provide access from anywhere at any time.
TASKey has spent years working through the complexity that rapidly occurs when people want to work together. There are many software products that focus on managing projects, or on individual time management. These products are useful, but they are limited to relatively simple situations.
In contrast, a true distributed management solution can simultaneously handle: the implementation of a corporate plan; projects and change initiatives; operations; business processes, and tasks and actions involving many people within and outside an organization in many locations.
Task and team information needs to be synchronized and presented from each persons perspective. This is the key for distributed management to work every person involved needs to see the up-to-date task and team information they need to do their job.
Using distributed management software with web and mobile browser access, work can be better organized, leading to higher productivity and a credible return on investment (ROI).
For more information, visit www.taskey.com or www.me2team.com
By,
Dr Neil Miller

The Importance of Having an Efficient Event Management Process

In the present economic environment, its fundamental that event managers work as efficiently as possible. Running lucrative events is a time consuming and complicated process. It can take many years of training and on the job experience for an event manager to become extremely effective at what they do.

One of the troubles event management faces is the huge number of activities and procedures that are involved in setting up and running events. Having the capability to multi-task and being well organised are traits that event managers need to develop and perfect as they gain experience in the field.

The benefits of working efficiency are basic:

Time savings

Cost savings

Improved event performance

Drilling down into these areas we can see the particulars of how and where the efficiency gains can be made:

Saves Time:

Its important that the event manager has clear and efficient procedures they adhere to when running events. Establishing processes that other people can keep to also means that other team members can aid or take over the management of an event with ease. Team members are able to comprehend instantly what stage of planning the event is at; cutting down on meetings and training sessions.

Many event managers will generate and revise their processes with each event; learning from their experiences to make the process of managing each event more effective and efficient. Having a set process that is written down means the events can be planned and managed far easier – important areas are never missed out and realistic timescales can be easily produced. Having dedicated processes saves time because event managers do not need to generate procedures from scratch for each event. They can reproduce each event process again and again, building on in and improving it with each event.

Being efficient in the event planning process also helps with event analysis. This involves analysing the performance of suppliers – knowing who has been used previously to provide goods and services and having details of the relationship can help analyse if this association is working at maximum efficiency. Its imperative to understand if suppliers standards are falling, and this can only be done if the event manager is running efficiently and monitoring the relationship with each event. It is massively valuable for event mangers to be able to employ the same suppliers over and over again – sourcing different suppliers is an especially time consuming process. Additionally having suppliers that let you down can be a huge drain on time as event managers try to resolve the issue at the last minute. So understanding and staying on top of existing supplier relationships is a fundamental part of efficient event management.

Post event, its important for event mangers to be able to swiftly and efficiently get management information on that event to analyse the success of that event; was there an increase in delegate attendance, did delegates rate the event well, did you get a good return on investment (ROI) etc. These are critical event metrics that need to be analysed quickly and efficiently. A frequent issue event managers have is that they are so busy arrangement numerous events, that they do not have time for this crucial event analysis stage. However, it is only by analysing events that you can help to improve the performance of future events.

Saves Costs

The common idiom time is money is very applicable in event management. Having an event manager who is efficient at their job, who understands and follows best practice event management processes and who has excellent relationships with effective suppliers is a crucial part of making a high and fast ROI. Bad event managers can cost an organisation huge quantities of money due to their poor efficiency and organisation.

Working with suppliers and building good quality relationships can also save money – the better the relationship, the more probable that supplier discounts will be involved. Running efficient events also means paying your suppliers on time – a critical part of gaining supplier discounts and bonuses.

An ineffective event manager will cost an organisation through the errors they make. Doubling up on orders, missing crucial parts of the process and other mistakes can be costly in terms of the time it takes to resolve, but also through being forced to obtain items at the last minute.

Improved Event Performance

Being able to efficiently run events also has an impact on the performance of the event. Delegates will have an better experience if the event runs smoothly and without mistakes. Being efficient ensures that delegates have an pleasurable and mistake free journey – from the point of booking, to payment, registration on the day, experiencing the event and providing post event feedback.

Events with efficiency concerns are likely to be poorly managed, with |mistakes and errors causing delegates to have unsatisfactory experiences. Ensuring that you provide the best possible experience for delegates is very important for the success of future events.

Increasing delegate attendance is something many organisations battle with, and if an organisation has issues over its reputation, due to their inefficiency, that will have a knock on consequence on future event registrations. A important part of profitable events is building up reputation in the industry and creating a long list of loyal, repeat purchase delegates.

Finally, being an efficient event manager also means that they are able to organise more than one event at a time. For companies that are dependent solely around event organisation, or for companies that simply happen to host numerous events, this is a critical part of the event management process. Event managers must be able to effectively organise the planning and running of multiple events and this can only be done if they are running to best practice, efficient event processes.

Improving Event Efficiency

Event managers can help to improve the efficiency of their working practices by making use of event management software. Event software is able to take best practice event processes and automate and manage them from one central platform. Taking away inefficient spreadsheets from the process and working on a software solution designed specifically for event management has demonstrated to have huge cost and time saving benefits.

Event management software solutions are able to manage all areas of event planning from:

– Website Integration

– Online Registration

– Event Communication

-E-Invite

-Email

-E-Survey

– Badge Production

– Resource Management

– Management of Financials

– Event Reporting and Analysis

With the event management industry being hit with increasing costs and lower delegate attendance, its vital that companies organising events fight back by being as efficient as possible and continually improving their processes. It is the companies that deal with efficiency problems head on, and utilise the use of technology who will make sure their events are profitable now and in the future.

For more information on event management software solutions, talk to evocos. In the past year alone evocos event software solution has created over 7000 events, managed roughly 75,000 delegates and has taken over 50,000 registrations online.

Incorporating built-in reporting and analysis resources as well as social media, email marketing, website integration, registration, online payment, badge production, resource management and event surveys, evocos is one of the most all-inclusive event management software solutions on the market today.

The evocos event management software team ensures you are able to seamlessly manage your events; gaining vast cost and efficiency benefits.

How To Allocate Retail Loss Prevention

Profit in any business requires an increase in income and decrease in expenditure. The same theory applies to the retail industry. To make profit in retail requires an in increase sales and reduction in shrinkage. This concept has so far been non-existence in the retail industry where the focus has always only been on increase sales and hoping that the problem of shrinkage will miraculously disappear.
Retail shrinkage occurs as a result of poor or non-existent loss prevention policies and procedures. Therefore, it is imperative that any retail organisation that wishes to remain profitable include loss prevention in its standard operational practices.
Loss prevention is the series of activities that are geared towards the reduction or elimination of all potential loss within an organisation. In the past, loss prevention has been confused with security. While security is a part of loss prevention, security is reactive, basically geared towards identifying shoplifters and employees suspected of stealing, loss prevention is centred around all the activities that are responsible for store loss. It can be known loss such as damages, returns and errors or unknown loss such as shoplifting or employee theft. Preventing shrinkage is simple if we understand the sources of the loss. Last year, UK retail industry spent 771 million on loss prevention, despite this spending, retail shrinkage rose by 5.4%. This has remained the story of loss prevention in the UK for many years. Shrinkage reduced by a few percent one year and increase by several percent the following.
What is the reason for this, the answer lies in the way loss prevention funding is allocated. Even though the levels of funding differ from one organisation to the other, the principle remains the same: spending more for less return on investment (ROI).
The Global Retail Theft Barometer report stated that for the 12-months ending June 2009 crime cost UK retailers 4,063 million. This is broken down as follows:
Customer theft 1,767 million (43.5% of all shrinkage)
Employee theft 1,479 million (36.4% of all shrinkage)
Distribution chain theft 175 million – (4.3% of all shrinkage)
Administrative error – 642 million – (15.8% of all shrinkage)
Total Shrinkage – 4,063 million – (100.0% of all shrinkage)

Total loss prevention spending for the same period was 771 million slightly down from the previous year of 785 million.
Broken down as follows:
Contract Security – 270,621,000.00
In-house Security – 162,681,000.00
Security Equipment – 223,590,000,00
Cash Collection – 61,680,000,00
Other LP Spending – 52,428,000.00
However, in this same period, shrinkage as a percentage of sales rose to 1.37% a rise of 5.4% from 2008 figure of 1.30%.
This brings us to the central thesis of this article: Why is retail loss prevention measure ineffective?
The answer lies in the way funding is allocated. To produce the desired result, retailers first and foremost need to determine the source of loss and allocate funding according to the ratio of loss and the ROI.
The below table outlines this point better, it shows last year retail spending on loss prevention and their return on investment:
Measures: Spending: ROI Achieved:
Trained Employees – 6.8% – 50%
Security Personnel – 56.2% – 2%
Security Equipment – 29% – 45%
Signs & others – 8% – 3%
Customer related theft accounts for only 21% of retail shrinkage the remaining 79% can be broken down into cashier cause 32%, followed by general employee cause 24%, receiving 10% and the remaining 13% is the result of damage and error. But the interesting point that needs to be noted is that even though 79% of retail shrinkage in caused by internal activities, retailers spent more on combating customer related theft than on employee cause.
56.2% of loss prevention resources were on security personnel that produced only 2% ROI, 6.8% was spent on staff training that produced 50% ROI. It is not difficult to see why despite the huge spending on loss prevention, retailers have not been able to affect their shrinkage level. There is a direct correlation between loss prevention spending and the ROI. Until such time that retailers get the balance right, loss prevention spending will continue to produce negative result.

How to make loss prevention effective?
The following are measures when implemented can lead to massive reductions in shrinkage levels and increased profits:
Measure the Scale of the Problem
Analysis daily profit and loss report
Complete top management involvement
Create awareness of the problem
Continuous education and discipline of employees
Inspect What You Expect
Set Measurable Targets
Take Advantage Of Technology
Develop the act of flexibility in approach
Change from present paradigm

Loss prevention is a science and like any science, it requires a systematic approach. Loss prevention personnel cannot approach it with cross fingers praying for the best. Gone are the days when retail crime such as shoplifting was seen as teenage leisure activities, or conducted by drug addicts. Many incidents of shoplifting are now carried out by Organised Retail Theft rings with levels of sophistication never before seen in the retail industry. We as loss prevention experts along with law enforcement agencies have to wake up to this fact and try to build our own capabilities to respond accordingly.
Increase sale does not necessarily mean increase profit the quicker retail executives crabs this concept, the sooner they will be making sustainable profit.

Brochure Folding Techniques That Rock

A brochure is effective marketing collateral that can help you make a success out of your promotional campaign. Your brochure’s main purpose is to attract your clients to purchase a product from you or avail of a service.

Even with a powerful message and exciting brochure printing design, all your efforts would be put to waste if you don’t have the right folding technique that would help your brochure spread out its wares in your recipients’ hands. Not to mention that your overall brochure printing cost is also determined by your folding pattern.

It matters then how you apply your folding technique. To make a possible sale and eventually increase your profits, you have to know what type of brochure folding technique would be suitable for your needs and purpose.

Contrary to what a lot of people think, effective brochures are made not only from great design or the perfect paper. (For most promotional materials actually, like the club flyers, success is more than these two elements.) For the most part, effective brochures are made by how they unfold.

For your next marketing campaign using brochures as your print collaterals, here are the most effective folding methods that you can use to increase your sales.

The Four-Page Fold. This simple brochure fold is the most basic as well as the simplest technique. It is suitable for direct mail campaigns because you don’t need envelopes to send them to your target clients. They’re very easy to make as well.

The Six-Page Fold. Also best for direct mail brochures and can be used as well for invitations. They can be applied to letterheads and literature materials for best results.

The Six-Page Accordion Fold. This technique uses the basic literature fold just like that of the 6-page. The only difference is the format applies the accordion as a design to the folding technique. Also ideal for direct mail campaigns.

The Eight-Page Parallel Fold. This is very popular among sales people as it promotes readability of more detailed information. Generally a literature and map folding technique, it is perfect for direct sales mailers and directional invitations. It can also be mailed even without an envelope.

The Eight-Page French, Eight-Page Map, Eight-Page Gate, Eight-Page Accordion, and the Eight-Page Roll Folds. All of these techniques are ideal for literature and map folding specifications. They are also great for detailed sales and marketing information, as well as for contents that use diagrams.

The Ten-Page Accordion, Ten-Page Parallel, and Twelve-Page Roll Folds. Also suitable for sales and product brochures with a more detailed content.

The Twelve-Page Broadsheet and Signature Folds. In addition to sales brochures with maps or diagrams, the 12-page broadsheet fold is also ideal for educational and training kits.

The 16-Page Broadsheet and Signature Folds. Suitable for general maps, educational or product descriptions in your brochures.

Folding is an art. Just like the Japanese origami, you can create a lot of things out of a mere piece of paper. In the same manner, when you fold your brochures, an art is created; an art that will draw your clients to your business, and eventually increase your ROI.

Drive Growth Through Innovation in Your Finance Department

Cognitive surplus has been recently proven to be a gold mine for a
collection of different departments. Don’t you think it’s about time you
learnt to benefit from this within your finance department as well?

Go beyond the apparent and obvious

All of the typical financial processes that most companies will utilise
to drive growth are fairly obvious these include: cutting into the
bottom line, maximizing revenues at the top line, and calculating the
return on investment (ROI) for any new investment opportunities. But if
you can make ‘innovation time’, in conjunction with financial analysis,
you will find that you are given a chance to look at less traditional
levers to drive growth within your department.

Not a very exciting task

Ensuring that you are given real time away from the stress of daily
tasks will eventually prove to be an invaluable exercise. Real time
allows you and your department time to reflect and allow you analyse the
performance of your finance department within the past versus the
demands, your deliveries and performance of today. By reaching into and
exploring your cognitive surplus, you and your colleagues could discover
areas that are limiting, and which could limit your financial
performance tomorrow. By taken a look at these limits you and your
department can explore alternative solutions to help drive growth and
increase the overall innovation of your company. With your financial
performance analysis in situ and a collection of innovative ideas in
hand you’ll be able to better forecast and set up departmental budgets,
whilst providing a firm foundation from which you are able to review any
innovative concepts to vary the business structure serving to help
alter the performance/cost ratio in a positive direction.

Want a push towards the right direction

Want a sensible push towards the right direction, which will help you
greatly improve the performance of your finance department?

You probably have an identical gut feeling that was brought to our
consciousness by an accounting survey of the financial close process:
only 28 % finance employees trust the reported numbers within the month
end financial close making historical account analysis an even more
arduous task. Financial Reconciliation software can make the whole
financial close process quicker and more economical by the complete
integration of automatic account reconciliation with automated approval
workflows. With the utilization of summary dashboards, account
reconciliation software makes strict compliance the quality standard for
your team, whilst at the same time executives are often accurately kept
within the loop with drill-down reports at the press of a button. You
can conjointly do away with binders and build your historical analysis
faster and easier with a completely digital archive. Although storing
all monthly close reports in binders may provide that old-fashioned feel
of security, however that feeling can be misleading. Using binders to
archive can in the long run prove more of a hindrance than a help.
Problems that can arise are:

Which binder is all the information
archived in? This issue can further be compounded with the problem of
physical space required to store all of your company binders.

Where in the binder is it? Generally binders over time become too hefty to go through.

So whether you’re working with binders or spreadsheets maintaining that
control and overview are a top priority. At any moment, you need to
have all documentation in place and to understand the status of every
person and every task. Financial Reconciliation software can help you to
streamline and digitize your monthly financial close process. Whilst
allowing you to replace cumbersome spreadsheets and full binders with an
up-to-date real-time overview of the entire balance sheet
reconciliation process.

Taking all of the above into account
what’s more, due to all of these efficiencies financial reconciliation
software will actually help you facilitate to make ‘innovation time’
within the financial department, serving to create a virtuous cycle of
enhancements and innovations with in your department. With all of these
helpful features and more it isn’t hard to ascertain how using financial
reconciliation software will greatly utilise your cognitive surplus and
help streamline your finance department helping your business grow.

Cold Laser Fat Removal – The Facts

The demand for cold laser fat removal machines has exploded recently, mostly due to the fact that you don’t need to be a medic or highly trained Dr to give this kind of treatment.Cold laser fat removal is a booming market and lots of peole want to get into it. Why ?It is pain free, simple to do and there is no downtime for your client. The results are instant and measurable, safe and significantly cheaper and less brutal than traditional surgical methods of fat removal. And because you don’t need to spend the best part of 5 years getting a medical degree, the only investment you need to make is simply a matter of purchasing the machine in the first place, and for some, that’s where the problems begin. Which one do you buy ? How much do you pay ? Are they any good ? Let’s shed some light on the facts and make the choice easier for you.
For the purpose of the exercise we will review Zerona, Strawberry, -lipo, and Lumislim machines on offer from various suppliers.
Before we do let’s just establish a few indisputable points.
These machines work on exactly the same principles and if they did not operate on the same laser frequency they could not work at all.
It’s that simple and if a salesman tells you his machine works better because….blah ….blah…..blah…he may not be telling the whole truth. There is no getting away from the science of this to suit a sales presentation.
These machines are all as good as each other when it comes to fat reduction.
Then if that’s the case what are the considerations to bear in mind when buying such a machine ?
Firstly, upfront cost is one, but also whats payback period? Again, forget the sales spiel, if you pay good money for such a machine there is a point where payback happens and the future is clear profit.
Any sensible business person wants a clear, visible quick return on investment, and quite right too. When working out an ROI you must think about your treatment price, which is impacted by the initial machine price. A high price system obviously means higher treatment costs, or a very distant ROI. You could lower your treatment price to attract more clients or compete with businesses who are paying less for their machines, but your ROI then flies into the distant future horizon
Here’s a table of costs and payback.
Machine Cost USD Cost GBP ROI
Zerona 79,000 49,000 7-10 years
Strawberry 31,900 20,000 2-3 years
I-lipo 16,000 10,000 1 year
Lumislim 9,500 5,999 2-4 months
This comparison table assumes that the clinic charges lower prices based on the cost of Lumislim.
Here’s another table using the assumption that the clinic charge higher prices for treatment to recover the cost of the Zerona machine
Machine Cost USD Cost GBP ROI
Zerona 79,000 49,000 4 -5 years
Strawberry 31,900 20,000 1-2 years
I-lipo 16,000 10,000 3-4 months
Lumislim 9,500 5,999 2-3 days
Clearly, its Lumislim that comes out top and if you are wondering why, well here’s the answer.
The machines from Zerona and Strawberry are mostly “One trick ponies” offerings. What that means is they have only one product in their portfolio and as such their whole marketing budget, cost of infrastructure, engineer salesman, cars, commissions etc is added to the cost of selling that one machine. This is basic business & accounting 101. If your cost base is super high, so is the price of what you are selling.
I-lipo from Chronogenix on the other hand, have a bigger range of specialist machines and are therefore able to spread the costs over several product ranges, leading to a more sensible pricing for quality products.
Crystal Medical, who sell Lumislim have more than 2000 products in their current inventory, and this is set to grow substantially in2011. Also, they don’t employ salesman on high commissions with flash cars, have a very low cost base and as such the price of the machine is the most attractive and sensible, which is why it will become market leader very quickly.
The difference in terms of how the machines work is minimal, save for the Zerona, which is not really a sensible choice as it is completely inflexible and priced in the stratosphere.
Simg Lumislim Pro is set to become the market leader quickly as the uptake increases and larger volumes are sold. Close behind is the fantastic I-lipo and in distant 3rd place with the spider shaped Zerona is the Strawberry.
When looking for a cold laser fat removal machine, make sure that you don’t pay over the odds, it will take you so much longer to recoup your investment and may impede your ability to attract a wider client base. Lumislim also comes with free delivery anywhere in the world and you can buy it online at www.crystalmedical.co.uk

Set Up Your Sales Department For Success With High Quality It Marketing Services

IT firm sales department managers everywhere have come back from their holiday breaks with renewed vigor at the prospect for increased demand generation and sales growth for 2011, but for a number of these managers, despite seemingly sound sales strategies, ultimate sales growth will be disappointing. For others, 2011 will be a stellar year, and the difference between success and disappointment in 2011 may come down to the selection of high quality IT marketing services.

The recent adverse winter weather conditions across much of the United States have cast a dark omen for sales departments, especially those departments who are not proactive enough and perhaps open to changing strategies for sales growth and sales ROI. However, despite the horrible weather and less-than-optimal sales results, brighter days can come for companies who shift their strategies and set up their sales departments for success; doing so is easier said than done, but the challenge of formulating a winning sales strategy for 2011 can be made much simpler with a little help from outside sources, namely those firms who offer high quality and cost-effective IT marketing services. Undoubtedly, moving forward with an outsourced marketing service may be the smartest decision a sales department leader can make in 2011, and for a number of managers, such a move will prove to be very fruitful as companies will be able to see improved demand generation, lower sales costs, and improved growth.

Is your sales department set up for success this year? If the budget of your department is limiting and/or your company is in need of improved demand generation and ultimately, improved sales results, then looking to a high quality IT marketing services firm for assistance is without a doubt the right move to make, although of course, partnering with the right sales services firm is of utmost importance if any progress in gaining clients in an optimal fashion is to be enjoyed.

How can your company begin researching the benefits and potential risks of IT marketing services? Quite simply: continue to browse through the SalesStaff website for more information regarding how IT sales outsourcing companies can help your firm reach its true potential. Be sure to learn more today, or if you have any questions or would like to move forward with a high quality demand generation solution, simply contact SalesStaff directly by phone or email.

is franchising your business worth it

Franchising your business possesses fantastic rewards, from a greater return on investment to risk reducing and holding of capital. But prior to you begin the process of franchising your business, you must 1st ascertain if your concept and operating system is franchisable.
Primary tenants of franchisability include:
Uniqueness. Your business must possess adequate differentiation from other franchises either in terms of products and services, marketing, smaller investment cost, or target market.

Straightforward operations. Your system and business model had better be relatively easy for a new franchisee to learn in a small time frame.
Strength of management. Even the most successful company will waver without a strong management team in position.

Adaptability and requirement. Your concept had better adjust easily to numerous locations and in that respect should be sufficient demand for your products or services.
ROI. A franchised business should bear sufficient profit after paying fees and royalties to earn an adequate return on investment.

Credibility. A franchisor must be credible to prospective franchisees.
If your business passes this litmus test, you will need a franchise plan and a business plan. A franchise plan is not the same as a business plan. Essentially, the franchise plan is a plan for franchising your business, detailing all of the steps you will take, as well as the franchise fee. The business plan outlines your overall business strategy over the next five years.

Next you will need an operations manual and training programs for your franchisees. In order to legally sell franchises, you must draft a franchise agreement and a Franchise Disclosure Document (FDD) and file with the appropriate state and national authorities. A franchise attorney can help you create these documents and meet the legislative requirements.

One of the main reasons franchising is attractive to franchisees is that they are buying the rights to use an established trademark and/or brand name. If you have not already done so, make sure that your intellectual property rights are available and register them.

In order to sell franchises, you will need a marketing plan. Marketing efforts could include a sales campaign, such as direct mail initiatives, franchise sales brochure and collateral, a sales videotape, a Web site with franchising information, paid placement on franchise opportunity Web sites, listing with a franchise brokerage firm, and trade show participation.

As you can tell, having the thought to franchise your business and actually franchising your business are two completely different things, they are worlds apart.
It takes a lot of hard work to get your business franchised. in the long run it is worth it so the hard work put in to make it work would be highly worth it.
There are plenty of websites out their that will help with all aspect of franchising if you needed assistance.

Advantages Of Franchise Businesses In The Philippines

Franchising is a popular trend in the Philippines today, and one of the many reasons as to why it gained a lot of popularity among Filipinos is because of its many opportunities. Here are some of those:

Quick ROI (Return of Investment)
One of the many popular benefits of franchise business Philippines is because of its faster ROI or Return of Investment compared to start-up businesses. Part of the reason why is because franchised businesses have already established a name in the market which makes them reliable in their market, unlike that of starting a business from the ground-up which would take a lot of time and effort.

Successful Business
In addition to its faster ROI, another reason why franchising became popular in the Philippines is because of its successful business model. According to business experts, the main advantage of franchising is that it allows its owners to start up quickly based on an already proven trademark, which is unlike that of starting their own business from scratch.

Lesser Maintenance Efforts
One of the reason why franchise business in the Philippines had gained a lot of popularity in the Philippines is because of its lesser maintenance efforts, particularly for food-cart or food-stall businesses. The reason why is that all of its marketing efforts as well as branding had been arranged by its franchisor. Some franchisors in the Philippines would even offer their services to register their franchisees business and arrange all its legal papers. This makes it easier for Filipinos to start their business quickly.

Availability
Another popular reason why franchise businesses had gained a lot of popularity in the country, particularly with food-cart or food-stall businesses in the Philippines. Because of hundreds of franchising companies in the Philippines that offer different brands of franchise businesses, particularly food-cart businesses, Filipinos have the freedom to choose which business suits their passion. Such as if with foods, Filipinos can choose from a wide variety of food-stuffs.

Business Loans
In addition to other benefits, business loans are also the reason why franchise businesses had gained a lot of popularity. A popular example is Ka-Negosyo by BPI.

Ka-Negosyo can offer flexible business loans which offers its clients choices of which plans can accommodate their franchise business Philippines needs, allowing it to cover the franchise cost itself, as well as its overhead expenses, such as its legal papers and registration, rent for its location, as well as its construction (if needed).