Starting a business from scratch is not the way to do things. You can always consider being part of a franchise. Find a brand whose products or services you like, get the necessary licenses and rights, and begin operating in Russia.
This marketing and business expansion brand has worked well for international brands such as KFC, Pizza Hut, and Marriott International hotels, among others. So, why not take advantage of it?
Here are 3 reasons you should think seriously about being a franchisee:
- Your business will have access to a well-known brand
There is nothing wrong with creating a new product or service brand. But it’s quite challenging to a new brand off the ground.
Today’s consumers tend to be brand loyal. And even if they are not loyal to one brand, they are still more likely to buy different brands that they are familiar with. Competing with such brands can be quite difficult if you don’t have a large marketing financial chest.
Becoming a franchisee helps you overcome this barrier. It enables you to buy into an existing business whose brand is known. That makes it less difficult for you to sell the products and services from your new business to the Russian audience.
And you may have access to the international advertising budget from the parent company. This will reduce your overall marketing costs. It will be easier for you to dominate the local Russian market within a shorter period.
- You Don’t Have To Have A Lot Of Experience
One of the stumbling blocks for business owners is usually lack of experience. And that can work against you especially if you intend to operate in a foreign country.
As a franchisee, you don’t have to worry about the lack of experience. That’s because the parent company will provide you with the training that you need. Once you buy into the company, you will be taught everything that you need to know.
Franchises are usually based on a proven model. You will learn how to implement that model in Russia. You will learn how to operate the business and which mistakes to avoid. It is in the best interest of the franchisor that you succeed because they will make money when you are successful. So, the on-site and off-site training that they provide will be valuable to you as a business owner.
- You Will Have Access To An Established Business Network
When you start a new business from scratch, you have to build your own business network. And that takes time. However, being part of a franchise gives you access to an already established business network. And that comes with lots of benefits.
First, getting the financing you need to set up your business in Russia may be much easier. Lenders will be more comfortable to give you the loans. They will be assured that the model you will be using to run your business is proven to be successful. Your business is also more likely to quickly find its footing with suppliers and customers alike.
Your franchisor is likely to have systems in place to procure the raw materials that you need for production. They can negotiate larger discounts for every franchisee due to the large volumes of goods they will be purchasing. This will reduce your business operation costs. And in turn, it will increase your competitive advantage. You will be better positioned to succeed in Russia compared to your competitors.
Do think seriously about being part of a franchise if you want to start a business in Russia. And ensure you get a business visa to enter and operate the country legally.
Need a Russian invitation letter? Visit us at https://visaexpress.com/russian-invitation-letter/ to get started on that visa application process.