Had managed to take a Twinterview (twitter interview) of Mr.S. Sivakumar (Chief Executive – Agri Businesses at ITC Limited) sometime back. He gave me a few great insights! Just to put them in three lines,
- You have to run the business for sometime before you can think of franchising it.
- In order to make somebody become a franchisee, you have to show clear indication of ROI, SOP and Pull factor (great brand/great product).
- In a franchising arrangement, the franchisee provides ONLY the last mile connect. EVERYTHING else is brought to the table by the franchisor.
Go through the original twinterview here on Mr.Sivakumar’s blog!
Note: The question that I had in my mind was how could franchising solutions be used in case of rural enterprises.