Red Formula Mobile Bar is a new bar business concept introduced by best friends and entrepreneurs Mr. Mannix Carancho and Jerome Ng. Sharing a common hobby and unending passion on scavenging good and visiting famous bars in the Philippines, they developed an awareness on the different taste preferences of the customers. They themselves love to explore new things and never hesitate to try new variety that the different bars have to offer. They are also very keen and friendly which enable them to get the opinions of different people about their experiences and acquire new ideas and knowledge that resulted to a decision to start a bar business of their own.
Mr. Mannix has been in the food business for quite some time already, having founded the famous “SCRAMBLE KING” with 120 outlets nationwide and 15 other food concepts. Jerome Ng on the other hand is an entrepreneur who have decided to venture out to partner with Mr. Carancho that eventually gave birth to the RED FORMULA MOBILE BAR.
How to franchise Red Formula Mobile Bar:
Franchise Package: Call
Red Formula Mobile Bar Franchise Inclusive of:
- Use of Trade Name and Logo
- Use of Business System
- Comprehensive Personnel Training
- Grand Opening Assistance with balloons and sound system
- Notarized Franchise Contract
Contact Details of Red Formula Mobile Bar:
Midas Touch Ventures Franchising Corporation
#39 B. Dapitan Extension corner Apo Street,
Sta. Mesa Heights, Quezon City, Philippines
Landline: (02) 902-0934 Local 1 to 3
Fax: (02) 415-3061
Mobile: GLOBE (0917)733-3334 / (0927)224-2222 / (0927)900-0777
SMART (0999)724-4444 / SUN (0923)718-4497
Email: [email protected]
Visit Website (This link will open on a new window)
Basics of Franchising Red Formula Mobile Bar
Franchising benefits
Franchisees gain access to a proven business model, established brand reputation, and ongoing support from Red Formula Mobile Bar, reducing the risks associated with starting a new business. They benefit from collective advertising and marketing efforts conducted by the franchisor, which can result in increased customer traffic and sales. Franchisees also have the opportunity to tap into the training and operational resources provided by the franchisor, enhancing their chances of success and profitability. Below are just a few pointers why franchising Red Formula Mobile Bar is beneficial for the inverstors:
High success rate due to its business model rather than starting from scratch.
Franchising Red Formula Mobile Bar offers the advantage of tapping into an established reputation and customer base, which can significantly reduce the time and effort required to build brand recognition. Additionally, franchisors typically provide comprehensive training, ongoing support, and proven business models, mitigating many of the risks associated with starting a new venture.
Franchisees benefit from economies of scale in purchasing, marketing, and operational support, which can lead to cost efficiencies and improved profitability.
Overall, franchising offers a structured pathway to entrepreneurship with a higher likelihood of success compared to launching a new brand independently.
Red Formula Mobile Bar is a recognized brand or trademark that can bring you success.
Success is achievable for franchising recognized brands like Red Formula Mobile Bar due to their established reputation, which can attract customers more readily and build trust faster than starting a new brand. Franchisees benefit from proven business models, operational support, and marketing strategies provided by Red Formula Mobile Bar, reducing the risks associated with independent entrepreneurship.
Additionally, being part of a well-known brand network offers access to economies of scale, collective marketing efforts, and a support system among fellow franchisees, enhancing the likelihood of success.
Availing financing from various sectors is highly likely due to a good brand reputation.
Financing is often more readily available when franchising a reputable brand due to several factors. Banks and lenders are typically more willing to provide loans to franchisees of established brands because they have a proven track record of success and lower risk compared to new, unproven businesses.
Additionally, franchisors may have relationships with financial institutions or offer financing options themselves, making it easier for franchisees to secure funding. The recognizable brand name and business model of Red Formula Mobile Bar also provide a level of security for lenders, increasing the likelihood of loan approval and favorable terms for franchisees.
Formula for success that a franchisor may provide.
Low-cost supplies and efficient supply chain management contribute to higher profit margins for franchisees by reducing the cost of goods sold. Effective marketing increases brand visibility and customer traffic, leading to increased sales and revenue. A prime location maximizes foot traffic and accessibility, further enhancing the franchisee's revenue potential and profitability.
5 things to consider when franchising Red Formula Mobile Bar
1 Make sure that you really want to own this franchise and this will best fit your venture among other offered business opportunities.
2 Be certain that you can work harmoniously with Red Formula Mobile Bar franchise and it is within your interest. A visit to one of the franchise store will help you be more aware of operation and proceedings.
3 Carefully study the Terms and Condition, Franchise Agreement, and what are included in franchising Red Formula Mobile Bar.
4 Check if Red Formula Mobile Bar franchise will be compatible with the rules and regulation, as well as existing laws on chosen location.
5 Best location is one key aspect to have a successful Red Formula Mobile Bar franchise. Study the environment and see if your business suits the surroundings.
Successful frachising 101
Becoming a successful Red Formula Mobile Bar franchisee requires a combination of strategic planning, dedication, and hard work. Here are some steps you can take to increase your chances of success:
Research
Start by researching various franchise opportunities to find one that aligns with your interests, skills, and financial resources. Look for franchises with a proven track record of success, strong brand recognition, and a supportive franchisor.
Understand the Franchise Agreement
Carefully review the franchise agreement, including all terms, fees, and obligations. Make sure you fully understand the expectations and requirements of being a franchisee.
Financial Planning
Evaluate your financial situation and determine how much capital you have available for investment. Consider not only the initial franchise fee but also ongoing expenses such as royalties, marketing fees, and operational costs.
Training and Support
Choose a franchise that offers comprehensive training and ongoing support to franchisees. Take advantage of all training programs provided by the franchisor to learn the ins and outs of the business.
Location Selection
If the franchise involves a physical location, carefully choose the location for your business. Consider factors such as foot traffic, demographics, competition, and lease terms.
Follow the System
One of the benefits of franchising is that you're buying into a proven business model. Follow the franchisor's system and guidelines closely to increase your chances of success.
Provide Excellent Customer Service
Focus on providing excellent customer service to build a loyal customer base. Happy customers are more likely to return and recommend your business to others.
Marketing and Promotion
Take advantage of the marketing support provided by the franchisor, but also be proactive in promoting your business locally. Utilize social media, local advertising, and community events to attract customers.
Manage Finances Wisely
Keep track of your finances closely and manage expenses efficiently. Monitor your cash flow, budget carefully, and seek professional advice if needed.
Adapt and Innovate
Be willing to adapt to changing market conditions and customer preferences. Look for opportunities to innovate and differentiate your business from competitors.
Network with Other Franchisees
Connect with other franchisees within the same system or industry to share insights, experiences, and best practices. Networking with fellow franchisees can provide valuable support and advice.
Stay Committed
Building a successful franchise takes time and effort. Stay committed to your business, remain focused on your goals, and be prepared to overcome challenges along the way.
By following these methods and staying dedicated to your business, you can increase your chances of becoming a successful Red Formula Mobile Bar franchisee.