What is a Franchise
A franchise is a legal and commercial relationship between the owner of the franchise or business model and an individual or group seeking the rights to use that identification in a business. It can simply be described as the practice of using another person’s successful business model to run your own under a similar name or brand after being granted the rights to do so by the parent company or the owner of that brand.
How the Franchise business model works
A franchise is an elaborate agreement under which the franchisee undertakes to conduct a business or sell a product or service in accordance with methods and procedures prescribed by the franchisor (parent company), and the franchisor undertakes to assist the franchisee through advertising, promotion and other advisory services. The rights and obligations of both parties are formally set out in a franchise agreement.Key benefits that you will enjoy by being a Farmers Pride Franchisee
There are a wide range of benefits to becoming a Farmers Pride franchisee:
Access to high quality products and services – Farmers Pride franchisees will have access to a wide range of quality assured and affordable inputs from reputable suppliers..
Marketing Support – Farmers Pride will offer marketing support to each franchisee in their areas of operation through holding joint farmers’ field days, promotion of Farmers Pride in the locality via public barazas, advertising in both print and local media amongst others. This will ensure that each Farmers Pride outlet is well known to the customers, therefore building the brand image on the ground level.
Access to regular business management training and Continuous professional development – Farmers Pride franchisees will all have access to regular business training opportunities in order to assist them improve their business management skills and hence boost profitability. In addition professional development through a team of experts in various fields will be at hand to ensure that Farmers Pride franchisees have access to the latest best practice techniques to improve on their diagnostic and advisory services to the farmers.
Access to new innovative products and services – Farmers Pride seeks to introduce a wide variety of innovative products and services to the industry that include market linkage, livestock and crop Insurance, vaccines, animal identification, disease monitoring and reporting techniques amongst others that will be exclusively available to Farmers Pride franchisees thereby giving them a competitive edge in better service delivery to their customers.
Assistance in accessing finance at favorable terms – Through the very good relation that Farmers Pride has, the company has negotiated with various financial institutions to ensure that the Farmers Pride franchisee will have access to financial packages such as loans and other credit facilities at very favorable interest and payment terms to assist them start or expand their business.
Recognized and trusted countrywide brand –Farmers Pride intends to have countrywide network of 150 outlets in the next 4 years with plans to venture into the neighboring countries in the near future. Farmers Pride will spare no effort in its marketing activities to ensure that it builds a successful brand that is recognized nationwide and internationally, which is committed to delivery of the highest possible quality and trusted services to farmers. This will in turn endear customers and other stakeholders to its outlets and services across the country.
Extensive business financial systems support services – In any business venture, business information systems are critical component in its success or failure. Farmers Pride business systems support services offered to the franchisees will be geared towards ensuring efficient procurement, stock control, sales and cash flow monitoring, profit and loss reporting etc. The provision of cutting edge business systems to the Farmers Pride franchisees will help them to grow and maximize on their profits.
Exclusive area of operation – The Farmers Pride franchisee will have an exclusive area of operation with an adequate customer base to enable them maximize on their potential and profits from a captive customer pool. The company shall endeavor to ensure that the predetermined region of operation shall not be infringed upon so as to maximize the benefit of the Farmers Pride brand amongst the customers to the franchisee.