Business Product

We are glad we can present you the advices of Eric Schiffer about franchising. Eric Schiffer is the manager of the 99 Cents chain, a business initiative that grows continuously on many plans. The owned stores of the company are successful, but a large part of the 300 stores chains is franchised. This is why we consider Eric as the right person to give advices to any person that wants to franchise, whether we are talking about retail businesses, fast foods or restaurants.
 
Eric Schiffer always stated the importance of information, whether we are talking about franchising, managing or any other financial initiative. The sources must be reliable. Just because the business is “successful” does not mean that it is also good for you. For example, the 99 Cents store is based on selling items that cost less than this sum. If you don’t have experience in retail or sales, maybe it is better to renounce. The company would never authorize a franchise towards you, and Eric Schiffer says that selecting the managers for the new stores is maybe the hardest initiative.
 
 
Initial investment
 
Some people believe that they have the money needed to start a franchise, while in fact, they will be confronted with some unforeseen expenses that might pose problems. Once the initial business plan is ready, Eric Schiffer advices the managers to consider at least 15 % more money for unforeseen expenses. The approval process for a franchise might last for months. The inflation and the economic factors, as well as the prices of the products might change significantly during this time.
 
The contract
 
Eric Schiffer does not hide the fact that communication is sometimes hard with the franchised stores. While the stores that are under the surveillance of the mother company have to comply with the general business plan, some franchisors assume that they “know it all”. Well, even if the plan is good, Schiffer is not tolerant with those practices. The discipline and the principles of the company are far more important than one semester of great financial results, and this is why all the stores from the store have to comply with the decisions of the manager, whether they are franchised or not.
 
Of course, we are not talking about a dictation. On the contrary, Eric Schiffer encourages the creativity of the managers. However, he asks to be consulted about any decision that is about to be made by one manager or the other, and the decision is put into practice only if it is approved by Eric.