BIFRANCHISE
| Joined: | 2009-02-16 |
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| Posts: | 1253 |
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Frequently Asked Questions about BiFranchisee:
How can I become a BiFranchisee?
There are several application forms that will be sent to you upon request
Are there any limitations as to what business can become a GIA Trading Group BiFranchisee?
Generally, there are no limitations; however, each case is reviewed separately
If my country already has a BiFranchisee, can I also purchase a BiFranchise license?
Existing BiFranchisee (in your country) may either issue you a sub-license or integrate your business into his network
What are the requirements to become a BiFranchisee?
In general, the following is required:• knowledge of international trade
• excellent business development skills
• ability to place imported products in your market and source manufactured goods and commodities from your country or territory
• ownership rights or financial means to lease or purchase a warehouse with adequate space for offloading and storage of at least four 20-40 feet containers
• working capital and or access to banking facilities
• etc. Can a BiFranchisee be appointed to more than one country?
BiFranchisee can be appointed only in one country, the country of residence
Can there be more than one BiFranchisee per country?
Only one BiFranchise License will be issued per country or territory; however, BiFranchisee will be permitted to issue sub-licenses or establish partnerships under his management
How big can the BiFranchisee’s territory be?
BiFranchisee will have exclusive license for the country he’s permanently residing in
How can one BiFranchisee handle the workload in large countries?
BiFranchisee can establish branches, partnerships, enter into JV agreements, or issue sub-licenses. BiFranchisee has full control of the country’s operations but all external transactions from his country will happen between the BiFranchisee and BiFranchisor
When will the BiFranchisee sign the contract with the BiFranchisor?
Once potential BiFranchisee has complied with the licence-granting requirements and agreed to all terms and conditions of the BiFranchise Agreement
How long is a BiFranchise license valid for?
BiFranchise license is valid for ten years with a possibility of extension
How much will the BiFranchisee license cost?
This information will be disclosed to the approved BiFranchisee only
Will the cost of the BiFranchisee licence change in the future?
Yes, license purchased in the year 2010 will cost more and there will be yearly increases after that
When will the BiFranchisee pay for the license?
BiFranchisee will pay for the BiFranchise License upon entering into the license granting agreement with the BiFranchisor
Is BiFranchise license fee refundable?
BiFranchise license fee is non-refundable
Can the BiFranchisor finance BiFranchise license?
BiFranchisor can allow qualified applicants to pay part of the fee upon signing the agreement with the remainder payable in instalments
Once purchased, can the BiFranchise license be resold or leased out?
Yes, provided it does not violate the terms of the BiFranchise License Agreement and BiFranchisor has approved the replacement BiFranchisee
Do I have to establish a new business to operate BiFranchise or can I use my existing business?
You can either establish a new business entity or operate your existing business; however, in both cases BiFranchisee will be required to operate under the GIA Trading Group (COUNTRY) name
What working capital should the BiFranchisee have?
BiFranchisee must be able to run his business and purchase goods (from the BiFranchise network) that have been requested by the BiFranchisee’s customers in his home country
What is the expected BiFranchisee’s yearly income?
BiFranchisor expects the average gross income in the first full year of operations for the BiFranchisee operating in a small developed country or medium developing country to be between €2,500,000 and €3,500,000. For medium developed countries and large developing countries for the first year to be between €5,000,000 and €7,000,000. For large developed economies, the earnings should reach €10,000,000 to €15,000,000 in the first year of operation. We estimate the increase to double every year for the next 4-5 years
What products will the BiFranchisee offer?
BiFranchisee will offer all manufactured goods and commodities that will be requested by buyers through the GIA Trading Group BiFranchise Network
Can BiFranchisee work only with limited categories of products?
Any prudent businessperson will limit neither his revenue streams nor earning potential. For as long as there are buyers available to place orders for purchasing manufactured and consumer goods, BiFranchisee must accommodate the orders in accordance with the BiFranchise License Agreement
Can BiFranchisee handle commodities?
BiFranchisee will transact in any and all goods (including commodities) requested by his customers located within his territory
When will the BiFranchisee place an order?
BiFranchisee can place an order at any time provided he has adequate funds to cover the order and either wants to stock the goods or has secured the order from his buyer
What goods or services will the BiFranchisee are required to buy from the BiFranchisor?
BiFranchisee will purchase all goods and services (requested by his buyers) from the BiFranchise network
When exporting a product what percentage can the BiFranchisee add to the cost price?
When exporting, the BiFranchisee will not add any percentage on top of the cost price
How much profit (percentage) will the BiFranchisee make when exporting?
This information will be disclosed to the approved BiFranchisee only
When importing what (percentage) can the BiFranchisee add to the selling price?
In general, BiFranchisee will make more when importing goods than when he is exporting. The percentage of profit will depend on the purchased price and the market conditions in his territory
What is the expected annual turnover per country?
For small developed countries we expect the BiFranchisee to reach at least €50,000,000 per annum
Can BiFranchisee distribute and/or wholesale any or all of the products he will import?
Yes, provided distribution or wholesale business is done under the BiFranchise License and GIA Trading Group (COUNTRY) name
Who will pay for marketing in BiFranchisee’s territory?
BiFranchisee will pay for marketing in his territory
Can BiFranchisee get involved in services related to International trade?
BiFranchisee can perform services like shipping, customs clearance, insurance, etc. providing the service is charged at a cost price only when dealing with the BiFranchisor
Can BiFranchisee outsource any of the services offered by the BiFranchise Network?
BiFranchisee must offer or outsource all services requested by the network and its clients. These services may be translations from and to the local language, product localisation, product placement, consulting, etc.
Can BiFranchisee offer services related to transactions he is involved in?
BiFranchisee can perform any and all services related to a transaction he is involved provided he will charge at cost prices only when dealing with the BiFranchisor
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