Developing a franchise is one thing, but doing it internationally is another challenge. Choosing to invest in a franchise has a number of advantages, including the benefit of know-how and a reputation that ensures the profitability of the franchise. In the case of an international franchise, the economic environment is not the same and the legislation is different. If the project represents an additional challenge, the bet can pay off. No matter what field you want to enter: food, hotels or fitness, these tips will help you implement your project.
The advantages of an international franchise
The Made in France label is a guarantee of quality on the international market. It is associated with an image of luxury, know-how and security for consumers. A priori, setting up a franchise internationally ensures a good reception from the public and a future profitability. The procedures for setting up a franchise in a different country are not the same. The market situation, the consumption patterns and of course the legislation require collaboration with a local partner. Among the points that absolutely must be addressed before the implementation of the project are the legal conditions of installation as well as the results of the market study.
The branch office: the parent company is entirely responsible for the installation and management of the franchise in the host country. It incurs the totality of the investment costs and in return reaps the entire turnover.
The Joint venture: consists of a partnership between the company and a local partner. The parties involved share the risks of setting up the franchise. The partner is usually a professional with solid experience in the market.
The direct franchise: this is the most faithful form of the classic franchise scheme. The franchisor provides the tools for the implementation of the franchise, including the transfer of skills and the distinctive signs of the brand that will be used on site.
The master-franchise: this model is the most used because of its practicality. The master franchisor is paid an entry fee as well as a signage and assistance fee by a master franchisee. The latter benefits from a license that allows him to duplicate the parent company’s concept in a given territory. The master franchisee can adapt the concept to the reality of the market.
Opting for an Iron Bodyfit franchise
Starting a franchise is a big challenge, especially if it’s an international location. This is a challenge that Iron Bodyfit has taken on since opening its first studio in 2015. Its network consists of 100 open studios, 8 master-franchises and the numbers are only growing. The next challenge will be to open its first studios in the United States. The company has a strong franchise track record to help the brand and “Iron” values thrive.
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