KFC franchise Business Information, Plan, Cost, requirement in India
If you want to open KFC franchisees in India then it can be a lucrative business for you. Of late KFC is doing a good business in India. At this time KFC is has acquired the best position in the food business in India. KFC is not a new brand. It was started back in 1932, when its franchise started from 1952.
What is a KFC franchise?
In the immediate time, every major company opens its branches to expand their business, and gives other traders an opportunity to open franchises to connect with them. KFC also gives the opportunity to open the franchisees to share the name of their brand and the way of doing business, in the form of KFC franchise. In other words, this franchisee means that you can run your business in the name of a big company, using their brand name. You will not need to do marketing and you will set up your business quickly. Just in return, you have to share some part of the profits that you earned from that business. You will be charged a certain amount of money as a fee while buying the franchisee. Buying KFC franchisee means that you can sell KFC’s famous dishes by the name of the brand. The company will train you to run the business.
The full form of KFC
The KFC Company first started with making fried chicken, which itself was made by its owner. Fried Chicken is the main food product to be made by KFC. Hence its name was also kept on the basis of Kentucky Fried Chicken, which is the full form of KFC.
Eligibility criteria for KFC franchisee
Taking KFC franchisees is a difficult task, because the eligibility criteria are divided into four parts. If you are going to apply for a franchisee then you need keep in mind these four things.
Financial condition
If anyone wants to take KFC’s franchisees in India then his net worth should be between 9 to 10 crores. Not only that, property worth up to five crore rupees should be in the form of cash or any such property which can quickly be converted into liquid cash. However this limit may be more or less depend on the size of the franchisee. These figures clearly show that you need to have good assets, and then you will be able to get the KFC franchise.
Experience in multi-unit operation
After that, KFC gives its franchise to those people who have previously experienced in the field of restaurant. Or if you have ever worked in KFC or otherwise have another experience like KFC you are considered to be eligible. Although this will give you some priority, this kind of experience is profitable but not necessary. Not only this, if your profile looks good, then the probability of getting a franchise will increase.
Market and personal reputation
In the eyes of market and banks, it means that you are not bankrupt in your country, or you have not taken any kind of loan from the bank. At the same time, your name should be known in the field of business, as well as no criminal case of any kind is registered to you. For this, your credit score should be at least 700, so that if you need money in the future, you can easily get a loan. If you have a good record of doing business then KFC will also give you the benefit and priority first.
Good motivation and commitment towards business
KFC is a big company and famous for its recipes in the world. At the same time, KFC requires customers who take franchisees who can run the business for a long time. KFC as a company provides advice and guidance to the franchisees from time to time on how to run the business for a long time.
How to apply for KFC franchisee?
In order to apply for the KFC franchisee, you have to apply by visiting its official website. This means that you have to fill some of your information by visiting link.You need to keep in mind that this process is the first step to get the franchisee, so you need to provide correct information because, KFC also gives special attention to all the information and to all the minute mistakes. Any mistake can cause you to not get the franchisee. In order to fill that you will have to provide your full name and your permanent residence address. Along with this, you need to give your email ID and your contact number which can easily be contacted by KFC.
Along with this you will also need to make sure that you will be present to talk, if you succeed in the first process, then you will be contacted by KFC and further process will be commenced. If your application form is not accepted due to some reason, then you do not need to be frustrated as, KFC is very strict in giving its franchisee. But if you fail, then you can reapply next time.
Not only this, if you want to open the franchise anywhere outside of the US, you can go to http://www.yum.com/company/franchising-real-estate/ on this link you will find the contact form for KFC Franchisee Distributor of all countries. For example, if you want to open a franchisee in India, you can contact Pramanna Kumar, the head of Yam Restaurant Private Limited, directly via email Prasanna.Kumar@yum.com. Or you can talk about it to another member of Yum Restaurant Pvt Ltd.
Cost to open KFC franchisee in India
The amount to open KFC franchise is approximately Rs.2 crore per Indian rupee. This business is often opened by such people, whose economic situation is strong because its decoration and maintenance cost is on the higher side. Simply put, keep the amount from 2 to 5 million in advance out of which, about one-third of the money goes in to store food items and two-thirds to the restaurant that is KFC’s franchisee framework. The cost is more than the cost of the McDonald’s franchisee opening.
Fees and percentage for KFC franchisee
You have to pay the full amount of money to open the franchisee and to build your shop. Depending on the money it will decided that how much level of franchisee you are going to get. You have to give 5% of the full earning royalties and 5% as promotional fees. Not only this, after 2 to 3 years, you have to renew the franchise.
Essential documents for KFC’s franchisees
Franchise disclosure document
KFC demands FDD (Franchisee Disclosure Document) before giving the franchise. In which the prominent franchisee agreement, development agreement, all the terms and conditions of the financial agreements are mentioned. These documents are signed by you and the company after agreeing on all the terms.
Other documents
In other documents you will have to give documents related to your franchise as to who is the land owner and what is your right on that land. With this you have to give proof of your property flowing with your citizenship documents. If you are an Indian then you may have to deposit the base card, PAN card and voter ID too.
The befits of KFC franchise
After opening the franchisee of KFC, almost or estimated three times gain is received within one year. But depending on what type of franchisee you have opened in this field depends more on it. It is easy and better to open KFC franchisees in the field of food sector to make quick startup and earn more money in a significantly lesser time. The best part is that the prices of all food meals that are made or sold in its name are already fixed in the market.
Saving money in marketing
The second biggest advantage is to avoid marketing because KFC itself continues to promote its brand. So your restaurant will be seen by people and the money spent on marketing will be saved. Though 5 percent of marketing is from you for profit, but compared to the KFC’s marketing expenses it is 5 percent very less. After getting the franchise, you will be trained on behalf of the company KFC, so that you can easily run your business. Not only this, KFC gives you some rules and advice from time to time. Not only this, because of taking franchisees, you have been in touch with traders and experienced people in business for many years and you have the experience of running these business from these people.
Precautions to take to run the franchisees
Choice of location
Before taking franchisees you need to get a full review of the place to know whether there was any franchisee was set before it. Investigation means that the franchisee should be opened in the place where the demand for the food and population is very good and for that you will have to take stock of the place; you will have to see the kind of people live there. You need to figure out that where people with money live, and you need to choose that place. In addition to this, shopping complexes can be very useful to you like, shopping malls, shops, Silicon Valley or colleges.
Importance for money
There is a lot of money required to run this business, so before you invest in it, check your ability to invest money. Not only that, if your franchisee does not earn anything for a year, you can run the franchisee with your money for at least one year with your investment.
Selection of people and employees
For the franchisee you have to choose such people who have already worked in this field. You can also get experienced people from the restaurant in your franchise. Once you select people, the people you choose will be trained. During training, they will be told how to work.
After analyzing all this information, it is understood that KFC provides its franchisees to them who are both financially and mentally strong. Only traders who have accounted for crores in words can take this business in the form of franchisee. You can multiply your property by investing money in it.
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