Top golf franchise: Players at all skill levels benefit from the use of custom-fit golf clubs. If you feel like your golf game needs improvement, investing in a set of clubs that fit you like a glove can help you compete at your highest level. To learn what kind of clubs you need, you need a few specific measurements and some basic information about your style of play.
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1. Get the Background:
Many well-known brands throughout the world are franchises. These franchises provide an interesting business model that may help individuals become business owners with a proven model for success. If you are interested in purchasing a franchise, it’s helpful to understand franchises and how they can benefit you. In this article, we discuss what a franchise is, the benefits of purchasing a franchise, how to choose one and how you can become a franchisee.
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2. What is a franchise?
A franchise is a business owned by an individual that is a part of a larger brand—that may be national or multinational—which oversees each franchisee location. Many stores that you are familiar with that have multiple locations are franchises. The two levels of people involved in franchises are:
Franchisor: The franchisor develops the brand’s trademark and business system.
Franchisee: The franchisee purchases the right to do business under the franchisor’s name and system, and they often pay an initial fee and royalties.
There are also two types of franchising relationships:
3. Business format franchising
The franchisor provides products, services and an entire system that will help the franchisee run the business. In this relationship, the franchisee is generally given development support, training, quality control, brand standards, operating manuals, a marketing strategy and any business advice that the franchisor can offer.
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4. Product distribution franchising
This form of franchising is a supplier-dealer relationship. The franchisee typically sells the products of their franchisor but does not use the entire business system to operate. For example, many bottling, automotive, gasoline and manufacturing industries use this franchising relationship.
Benefits of purchasing a franchise
There are many benefits that franchising provides that you may not receive by starting your own business with your own business model and resources. Here are some of the benefits of purchasing a franchise:
Access to collective buying power
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5. Lower risk
Franchises often offer a lower risk to franchisees because most of them have already established themselves as successful businesses. All the market testing and brand building that you would have done when starting your own business has already been done for you. This makes franchises a much more secure investment than starting an independent business.
This demonstrated success will probably make it easier for you to secure a loan from a bank as well. The franchisor or the established corporation will support your business and assist you with what you need to succeed, thereby reducing any risks you would have if you owned an independent business.
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6. Customer loyalty
Since most franchises are already established, this means that they most likely have already built a brand and customer loyalty to go with it. Building a brand and growing a customer base takes a lot of time and marketing trial and error, which you already have if you choose to operate your own franchise. When you invest in a franchise, you gain access to loyal customers and employees who are familiar with the brand. This will reduce your workload and help you focus on building profitability for your business.
How to choose a franchise
There are many franchises on the market to choose from. Take these steps to find the right one for you:
Make a list of your top skills.
Match your skills to franchise opportunities.
Identify your financial capabilities.
Interview the franchisor.
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7. Measure your height.
Clubs are matched to your height and the distance between your hands and the ground. To find the right size clubs for your body, use recent height measurement to determine the proper angle for your clubs. It usually helps to have another person measure, so you get the most accurate measurements possible.
- Measure your basic height from the top of your head to the bottom of your feet. Stand up as straight as possible to get the measurement. You don’t need to be in your swing stance.
8. Make a list of your top skills
Write down your skills and anything else you are good at on a piece of paper to prepare for your SWOT analysis. A SWOT analysis will help you evaluate your strengths, weaknesses, opportunities and threats; and in turn, which franchises are best suited to who you are. For example, you may write that you are excellent at building relationships or that you are better at behind-the-scenes operations.
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9. Match your skills to franchise opportunities
Once you begin researching franchises, you should have the list of skills and SWOT analysis conducted in Step 1 near you so you can match your skills with the franchises.
Next, begin to pick out some franchises you are interested in and examine each of them to see if you would be able to use your skills. For example, if you are interested in a fast-food franchise after you read the franchisor’s information and you are great with customer service and building relationships, then a fast-food franchise may be a good opportunity for you. Many franchise portals allow you to request more information by submitting an online form and a representative will contact you once the inquiry is received.
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10. Identify your financial capabilities
Most franchises require a specific amount of fixed capital from franchisee applicants, so make sure you know exactly how much money you have to work with. Identifying your financial capabilities will help you to prioritize franchises that are feasible for you to purchase.
Add up the cost of the items you will need to start your business using a franchise disclosure document (FDD). Consider the franchise financial amounts provided by the representative and any other start-up costs they discuss not included in the fixed capital requirement.
11. Examine trends
Examining trends means conducting market research on brands that you are interested in. It is not just about the franchises that are popular at the moment. You need to see the trends of brands over time to see if they are sustainable and worthy of your time, money and effort.
12. Interview the franchisor
The franchisor is your business partner and it is important to make sure that your franchisor leads with vision, integrity and care for those who invest in their franchise system. Take time to get to know your franchisor and most importantly, to understand the terms and conditions of your franchise agreement. A good franchisor should be just as interested in you as you are in them and provide you with as many details as you need.
How to become a franchisee
Becoming a franchisee is relatively competitive depending on the popularity of the franchise you choose to purchase. Here are some steps you can take towards becoming a franchisee:
Choose the right franchise.
Impress the franchisor.
Negotiate with the franchisor.
Decide how to finance the franchise.
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13. Choose the right franchise
It is important to choose a franchise that you take considerable interest in and that fits within your schedule. For instance, it may be best to choose a franchise with traditional hours if you don’t want to work nights and weekends. You should also consider your available budget when choosing the right franchise.
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14. Impress the franchisor
Each franchise may not provide multiple opportunities for every prospective franchisee to join. This means that franchisors can be extremely selective so, it is important for you to show that you are a motivated and successful individual who will contribute positively to their overall business model. The best way to increase your chances of being selected is by being prepared for each meeting and thoroughly researching the franchise before you express interest.
15. Negotiate with the franchisor
It may be helpful to seek out an attorney to help you to review the terms of the franchise contracts. You should also have an attorney review the Franchisor Disclosure Document that includes necessary information for the franchisee, such as the history of the franchise, trademark usage regulations, provisions for future conflict and financing specifics. The franchisor controls most of the business, so it is important to understand everything about the contract and negotiate, if necessary, to avoid conflicts.
16. Decide how to finance the franchise
It is important to decide how to finance the start-up costs of your franchise. You may consider using your own money, taking out a personal loan, getting a small business loan or asking for loans from friends and family. Typically, franchisees are not able to fund their businesses using financing from investors.
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17. Talk to a golf pro.
No, you don’t have to call up Tiger to get advice. A “pro” is a person who works in the golf shop and teaches lessons, the golf equivalent of a personal trainer. It’s useful to get a pro to help you learn more about your shots and your needs from a set of clubs. It can be tricky for non-experts to tell whether high and low shots are caused by improper technique or poorly fitted clubs.
18. Try a lot of different clubs first.
If you’re considering investing in a set of custom clubs, it’s a good idea to establish a play style and get experienced before investing in a brand new set. Focus on developing a consistent swing, getting your score below the 100s on a standard 18 hole course before you invest the big money sets.
- Ask golfing buddies, family, or golf shop employees to let you try different clubs on the driving range. You can predict what you’re going to like a little bit based on your height and swing speed, but a lot of it is also personal taste. Choose a standard club to practice.
19. Get the right clubs for your loft.
20. Consider getting some hybrid clubs.
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21. Go with what feels right.
- Try out short clubs in various situations from various distances and see what works for your style. Head to any Golfsmith and there will be a small putting area for testing clubs. Try not to get distracted by all of the crazy looking options and focus instead on which ones you’re actually getting the ball into the hole with.