1. How much does your franchise gross per year?
5% royalty fee on the gross revenue derived from monthly sales, and 3% advertising and promotion fees of the gross revenue derived from monthly sales.
2. Will the business generate enough profit to suit you?
My answer is yes. The business can generate the enough profit to suit me. Although there will be have a risk, there might have a chance to gain double or even triple times of income.
3.How much money are you making on your investment?
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4. Are you qualified to operate a franchise successfully? Do you have adequate drive, skill, experience, education, patience, and financial capacity? Are you prepared to work hard?
Erm.. I think I am not qualified to operate a franchise successfully because I am lack of experiences and still fresh in operating business.
5. Can you tolerate the financial risk?
I can tolerate it if I do have financial capacity.
6. Does the franchise provide training?
Definitely yes.
7. Describe how you train and mentor your franchisees.
Define your operating model such as How do you do things? How do you go to market? How do you cost, price, market, sell, serve, manufacture? Get clear on all these points. After that, find entrepreneurial employees who will learn, execute, teach, challenge, and improve your operating model. Engaged employees whose personal success is aligned with their organization's success are key to successful Internal Franchises. Build a culture of ownership. Create and nurture the cultural attributes and beliefs where everyone acts as a steward and even an owner of the business.
8. How many hours, on average, do yo work a week?
Normally I working around 10 hours per day, which means I spend around 60 hours on average.
9. Do you enjoy working with and managing people? Are you a "team player"?
Yes I'm enjoy sharing with them.
10. What are your biggest challenges and problems?
The biggest challenges I think is time management.
11. Knowing what you know now, would you buy this franchise again?
yes.
12. What are the main reason some of the franchisees leaving the system?
The main reason that some of the franchisees leaving the system is they lack of experience on operating a business and weak on management.
13. How many franchises have failed? Why?
Seriously I am not sure about accurate numbers.
14.What facilities and equipment are required for the franchise?
The basic facilities and equipment that are required for the franchise is furniture, chefs, waiter, and waitress.
15. Is the product or service safe and reputable?
Ya, Old Town’s food is definitely safe and reputable.
It is a historical café that famous with “Old Town White Coffee”.
16. Are you allowed to sell you franchise to third party? Does the franchiser reserve the right to approve the buyer?
No, franchisee is not allowed to sell franchise to third party.
Everything is under the contract. Everything refers to the franchisor.
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18.How often do you get a vacation?
This I’m also not sure.
19. Is the franchise international, national, regional or local in scope? Does it involve full or part time involvement?
Old town is a local café which come from Ipoh.
20.What can this franchiser do for you that you cannot do for yourself?
Their decoration, tableware and we can’t add in new dishes into the menu and prices can’t be changed.
21. Are you willing to sacrifice some autonomy in operating a business to own a franchise?
I will answer Yes if for a stable franchise like Oldtown. I am willing to sacrifice and put all my effort in my business.
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