A novice franchisee may face numerous challenges and problems. Some of them are typical for all types of business, but there are also unique obstacles that should be taken into account, otherwise the franchisee risks being left with nothing. Yevgeny Dobrinin, commercial Director of navikom, gives recommendations on buying and running a franchise
The main difficulty is finding a suitable business area. Analyze your budget, narrow down the list of options. Think about which area of business is the most understandable and close to you. This will determine how long you will be able to conduct such activities. Then try to talk to franchisors, who will guide you on the complexity of doing business, the timing of its opening, and so on. Continue reading
Grigory Pavlov, Director Of the Association of Retail Stores, talks about how to work with illiquid product balances in a retail store, identifies the main problem points and gives advice on how to overcome them
First, let’s define the concept of illiquid. Illiquid is the part of the product in the store that could not be sold within a certain time frame.
The reasons why there are unsold stocks may be as follows:
An incorrect decision about the purchase
Often illiquid is a direct consequence of making the wrong decision about the purchase. Continue reading