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Planning
Analyze
The Formula
When your customers like certain products, then you want to satisfy them because there is something for you to gain from it (profit). When customers likes certain products, then Ali and his team want to satisfy those customers based on proper analysis, to see if only a few customers like certain products. You have to analyze everything, the present market, the competition, your marketing plan, even personal flaws.
Gain Capital & Good Relationships
Most franchisees need to plan what they want in their business. What Ali plans to do is to add new products, to work with his customers for the best profit, to do what his competition can't, to add special events, and to improve his business team. When Ali completes this checklist, then he can move up as a franchisee. He looked at the financial patterns from the sales trends and what he noticed was that profit was unpredictable. Ali's store wants profit to become higher every year so that he can upgrade his stores
Why is becoming a 7-Eleven franchisee such a good idea?
In this type of business, you need a formula that will bring you what you want from your business. An abbreviation of this formula is:
A - Analyze
P - Planning
G - Gain Capital & Good Relationships
Finally, what Ali's business plan is telling you is that you need to establish a good relationship with not only your customers, but your business team as well. Your team is a vital part to your success as a franchisee. You need to develop better relationships with your business team in order to have the best business possible
Ali's financial plan states that the best way to gain assets is to work with or help those that play a major role in your business. However the best way to earn more profit is to focus on your customers more than your franchisor or your manufacturer
What does a franchisee want?
What most franchisees want is...
- To make good profit
- Establishing good relationships with their customers
- To move up in the world as businessmen/women
- As a franchisee, you become part of a brand that is known and loved around the world
- The best place for veterans
- You become part of a company that is connected to all types of cool organizations
- You can franchise one or multiple stores
- The franchise model provides you with land, the store, and equipment
- Because the store is open all day, revenue will always be coming in