- S – Proven SYSTEM
- P – Ongoing PROFITABILITY
- I – Recognized Brand IDENTITY
- R – Recurring REVENUE
- I – Low Financial INVESTMENT
- T – Continuous TRAINING“
This conceptual acronym largely sums up the best practices and nice positioning that a leading franchise, regardless of its industry, must adopt and offer as its value proposition to franchisees. As a franchisor, the opportunity to work with entrepreneurs from all over the world is perhaps the most intriguing, yet exceedingly challenging, part of a global franchise system. A franchisor must focus on continuously enhancing its franchise offering, gathering and sharing best practices within its network and staying in touch with end customers to always meet their needs. On the other hand, an entrepreneur who chooses to be a franchisee rather than starting a business independently must believe in the franchise system and make a commitment to follow it. The biggest benefit a business owner can derive from a franchise system is to not have to re-invent the wheel but instead, rely on a system that is proven to be successful.