Steps On How To Franchise Master Siomai In 2023
MASTER SIOMAI FRANCHISE – If you want to franchise Master Siomai, here are the important information you should know that can help you understand how to franchise and how much you need.
Are you interested in a profitable and rewarding business opportunity? Are you passionate about siomai and eager to share its delicious flavors with others? If you answered affirmatively to both questions, you might want to explore the option of franchising Master Siomai.
Master Siomai stands as one of the premier fast food chains in the Philippines, specializing in siomai, a steamed dumpling originating from China. Siomai has gained immense popularity among Filipinos due to its scrumptious taste, affordability, and convenience. Master Siomai has elevated this simple dish by offering an array of siomai variations, including pork, beef, shrimp, and Japanese-style wrapped in nori seaweed. Additionally, Master Siomai offers a diverse menu featuring rice meals, noodles, gulaman (a sweet drink), and siopao (steamed buns).
Established in 2007, Master Siomai has grown into a nationwide network of over 750 outlets. Furthermore, it has ventured into the international market with branches in the USA, Vietnam, Hong Kong, Saudi Arabia, Qatar, and Brunei. Master Siomai boasts a strong brand identity, a dedicated customer base, and innovative marketing strategies that distinguish it from its competitors.
If you want to be part of this successful franchise network, here are the steps and guidelines you need to follow:
Step 1: Find A Suitable Location For Your Outlet
The location you choose plays a pivotal role in determining the success of your business. It is crucial to select a site with high foot traffic, visibility, accessibility, security, and alignment with your target audience. Suitable locations may include malls, bustling streets, transportation terminals, schools, or campuses. Before applying for the franchise, ensure you have an award notice or a written agreement from the property owner.
Step 2: Contact Master Siomai For The Schedule Of Site Evaluation
Once you have secured your chosen location, get in touch with Master Siomai to arrange a site evaluation. You can either complete an online form or send an email to [email protected], including your contact information and the subject “Franchise Inquiry.” Provide your personal details, contact information, preferred site, and reasons for selecting Master Siomai.
Step 3: Wait For The Approval Of Your Application
Upon contacting Master Siomai, you will receive an acknowledgment email within 24 hours. Subsequently, Master Siomai will review your application, conduct a site inspection, and perform a feasibility study. They will also interview you and assess your background and financial standing. This evaluation process may take up to 30 days. If your application receives approval, you will receive a Notice of Award from Master Siomai.
Step 4: Sign The Franchise Agreement And Pay The Franchise Fee
Following the receipt of the Notice of Award from Master Siomai, you will need to enter into a contract with them, detailing the terms and conditions of the franchise. Additionally, you will be required to remit a franchise fee of Php 280,000 plus 12% VAT, which remains valid for five years. The franchise fee covers the following expenses:
- Use of Trade Name and Logo
- Site Evaluation
- Training Program
- Marketing Support
- Technical Support
- Quality Assurance
Step 5: Set Up Your Outlet And Attend The Training Program
Following the execution of the contract and the payment of the fee, you will be required to procure the necessary equipment and conduct renovations for your establishment in accordance with Master Siomai’s specifications. This equipment encompasses computers, printers, scanners, barcode readers, cash registers, cameras, biometric devices, routers, modems, cables, power supplies, and more. Renovation efforts encompass tasks like painting, flooring installation, lighting enhancement, signage installation, and furniture placement, among others. The total cost of equipment and renovation may fluctuate based on the size and condition of your outlet. In addition to this, you will be expected to participate in a training program designed to instruct you on the operation and management of your outlet. The training program encompasses subjects such as:
- Company Background
- Product Knowledge
- System Operation
- Customer Service
- Cash Handling
- Security and Fraud Prevention
- Reporting and Reconciliation
Step 6: Start Operating Your Outlet And Offer The Services Of Master Siomai To Your Customers
Once you successfully finish the training program, you will be ready to launch your outlet and provide Master Siomai’s services to your clientele. Additionally, you will benefit from ongoing assistance and direction from Master Siomai’s team of professionals, including account managers, field officers, technical personnel, and quality assessors. It is essential to adhere to Master Siomai’s established standards and policies, which include:
Operating Hours: Your outlet should be open for business from 8:00 AM to 5:00 PM, Monday through Saturday.
Service Fees: You are required to levy a service fee ranging from Php 5 to Php 15 per transaction, contingent upon the nature of the bill or service.
Remittance: Depending on the chosen payment method, you should submit your collected funds to Master Siomai either on a daily or weekly basis.
Royalty Fee: On a monthly basis, you are obligated to remit a royalty fee equivalent to 1% of your total monthly sales to Master Siomai.
CONCLUSION
These constitute the fundamental procedures and prerequisites for becoming a Master Siomai franchisee. Nevertheless, it’s imperative to acknowledge the potential hazards and obstacles that come with this enterprise, including currency fluctuations, political volatility, competitive pressures, and regulatory considerations. It is advisable to conduct thorough research and exercise due diligence before committing to any investment.
For individuals who have a passion for siomai and a desire to spread its delectable appeal, franchising Master Siomai offers a promising and gratifying business prospect.
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