Single-unit franchising is likely the oldest form of commercial franchising.
A single-unit franchisee is typically an owner-operator who takes franchisee from Goldsikka. You will have to be present at their business every day and are involved in most, if not all, aspects of running it.
A single-unit franchise is the most common type of franchise relationship. In a single-unit franchise relationship, the Goldsikka grants to the franchisee the right to operate one location using the Goldsikka’s trade name, service marks, and operating system. The relationship is directly between the Goldsikka and a franchisee who will be the operator of the location.
Obviously, investing in one franchise unit is less expensive than buying two or more.
You need only be concerned about rent, build-out, overhead, insurance and employee salaries for a single unit.
Royalties paid to the Goldsikka will also be less with one unit as opposed to royalties for multiple locations.
Because owner-operators work at their franchise locations, they learn not only all the systems and operations, but also the nuances involved.
You will be able to observe first-hand the quality of customer service provided by employees.
In addition to having focused control over performance in contrast to a multi-unit owner who may be spread thin, as an owner-operator, you also have control over who is hired.
You can bring on board exactly who you want working at your business. As the business owner, you are the most invested individual in your franchise and can select the candidates you deem to be a good fit for business, which will help lead to growth.
Although owning your own business is a huge responsibility, you have fewer pitfalls to worry about when you own a single unit versus owning multiple units.
1.Location/territory: Goldsikka franchise agreement will designate the territory in which you will operate and outline any exclusivity rights you may have.
2. Operations: Goldsikka provide details as to how franchisees are expected to run their units.
3. Training and ongoing support: Goldsikka will offer training and training programs for franchisees and their staff. Training may take place at corporate offices or out in the field. All ongoing administrative and technical support will also be outlined in the agreement.
4. Duration: The duration of the agreement will be as per mutual agreement and it differs from party to party of the franchise agreement.
5. Franchise fee: There will be an upfront initial franchise fee that grants the franchisee the right to use the Goldsikka’s trademark and operating system. Franchise fee is not refundable.
6. Investment: Franchisee is required to make investment towards establishment of shop and related infrastructure.
7. Royalties/ongoing fees. Goldsikka royalty structure requires franchisees to pay an ongoing royalty, usually a percentage of total sales, which is often paid on a monthly basis.
8. Trademark/patent/signage. Goldsikka will outline how a franchisee can use the Goldsikka trademark, patent, logo and signage.
9. Advertising/marketing. The Goldsikka will reveal its advertising commitment and what fees franchisees are required to pay towards those costs.
10. Initial and ongoing training and support: Goldsikka will provide a host of pre-opening and continuing support, including training, quality control etc.
11. Renewal: Franchise can apply for renewal after expiry of contract however the renewal rights are exclusively reserve with Goldsikka.
12. Termination: Goldsikka will reserve the right to terminate franchise contract if it deems any action of franchisee is outside the law or contract. Our performance of franchise is not on par with acceptable level.
13. Cancellation policies. The franchise agreement will describe how the franchisee can be renewed or cancelled.
14. Exit strategies. Goldsikka may allow franchisees to sell their franchises upon approval from Goldsikka. Or Goldsikka may buy back the franchise at a rate determined by its team or to match any potential buyer's offer.
15. Record keeping have to be carried out by franchisee
16. Site selection and development: Franchisees have to find their own sites and develop them according to the Goldsikka standards. However franchisee needs to take Goldsikka approval before for location.
17. Insurance requirements: Franchise agreements will define the minimum insurance a franchisee is required to have prior to opening and during the term of the agreement.
18. Non Disclosure agreement: Franchisee has to sign a NDA, that franchisee will not share any confidential information or trade secret or policies of Goldsikka with competitors or anyone else.
19. Franchisee cannot carry out any other business activity in the premises than what has been agreed with Goldsikka.
20. Goldsikka will not have any liability emerging from the actions of franchisee