Reliance Fresh, one of the successful sister ventures of Reliance Industries, which has not left any stone unturned in bringing one of the best retail brands.
The brand has successfully established itself as name, everyone businessman aspires to become.
Reliance Retail to expand its business-to-business play by foraying into the distribution of apparel, FMCG, and white goods directly to neighborhood and Kirana outlets since it wants to tap a larger pie of the market considering the scope of exponential growth in organized retail, currently limited to 8% of the total market.
For those who want to come under the huge umbrella network of the company, can get franchising offered by Reliance Fresh, here are some of the basic steps to get the Reliance Fresh Franchise:
As soon as you plan to take up franchising from Reliance Fresh, do a thorough market research to know if they are open to franchising, if yes then go to the parent company or try reaching out to them to know the procedure.
Prior to getting in touch with the parent company, try to reach out to the other franchisees, near your town, to know how they are performing and what the profit rate of their franchisee is. Also gather a rough idea about the investments required, choosing a location and other basic requirements, before visiting the parent company.
Once you get the basic idea to set a franchisee store, evaluate yourself on the basis of the report. Question yourself whether you are ready to commit that amount of money, time, dedication and hard work in shouldering the brand’s value and reach.
When a brand gives you an authority to start a business under its name, it ultimately shed some responsibility, which is why self-evaluation is important as your work is directly or indirectly going to benefit or harm the company’s reputation.
After self-evaluation, you are confident enough to take care of the company’s expectations and your own. Investment plays a vital role in any business, which is why it is very important to secure enough investment to fulfill all the basic needs. It is a good thing to have more than enough than having less than the calculated amount.
Look out for investors, who would agree to invest in your business plan, or else there are banks who offer loans after they get convinced by your business plan and by verifying your legal documents.
Investors and banks will only agree to pay their hard earned money, only if they verify your legal documents. So getting all the required documents is a must. Get the details of documents that are needed from other franchisees, then start applying for them because getting the license consumes a lot of time.
Once you get the legal formalities done, go to the parent company and get all the agreements and deals signed then approach the investors or bank for loan approvals and start working on the Reliance Fresh retail store.
Hiring and Training:
Once the deal is done, agreements are signed, time to focus on the helping hands. Try and hire people, who are experienced, trained and have a good professional record. These will help in training the junior level workers and supervise to keep the business’s flow smooth.
You cannot keep an eye on every individual working in the store, which is why plant security cameras and the experienced seniors can handle them. In retail stores there have been many technical works goes in, which is why it is important to give proper training to the junior or fresher.
A far as the financial details required for setting up franchising unit is concerned, one can reach out to us by commenting on the post.