Are you looking for a profitable and rewarding business opportunity? Do you love siomai and want to share its deliciousness with others? If you answered yes to both questions, then you might want to consider franchising Master Siomai.
Master Siomai is one of the leading fast food chains in the Philippines that offers siomai, a type of steamed dumpling that originated from China. Siomai is a popular snack food among Filipinos because it is tasty, affordable, and easy to eat. Master Siomai has taken this simple dish to the next level by offering different varieties of siomai, such as pork, beef, shrimp, and Japanese, which is wrapped in nori seaweed. Master Siomai also serves other products, such as rice meals, noodles, gulaman, and siopao.
Master Siomai has been in the business since 2007 and has grown into a nationwide network of over 750 outlets. It has also expanded internationally, with branches in the USA, Vietnam, Hong Kong, Saudi Arabia, Qatar, and Brunei. Master Siomai has a strong brand identity, loyal customer base, and innovative marketing strategies that make it stand out from its competitors.
If you want to be part of this successful franchise network, here are some steps and guidelines that you need to follow:
Table of Contents
Step 1: Find a suitable location for your outlet
The location is one of the most important factors that will determine the success of your business. You need to find a place that has high foot traffic, visibility, accessibility, security, and compatibility with your target market. It can be inside a mall, a busy street, a terminal, a school, or a campus. You need to have an award notice or a written agreement from the lessor before applying for the franchise.
Step 2: Contact Master Siomai for the schedule of site evaluation
Once you have secured your location, you need to contact Master Siomai for the schedule of site evaluation. You can fill out an online form 1 or send an email to [email protected] with your contact details and the subject “Franchise Inquiry”. You need to provide your personal information, contact details, preferred location, and reasons for choosing Master Siomai.
Step 3: Wait for the approval of your application
After you have contacted Master Siomai, you will receive an acknowledgment email within 24 hours. Master Siomai will then review your application and conduct a site inspection and feasibility study. They will also interview you and check your background and financial status. This process may take up to 30 days. If your application is approved, you will receive a Notice of Award from Master Siomai.
Step 4: Sign the franchise agreement and pay the franchise fee
After you receive the Notice of Award from Master Siomai, you will need to sign a contract with them that outlines the terms and conditions of the franchise. You also need to pay a franchise fee of Php 280,000 plus 12% VAT, which is valid for five years. The franchise fee covers the following items:
- 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
After you sign the contract and pay the fee, you will need to purchase the equipment and renovate your outlet according to Master Siomai’s specifications. The equipment includes computers, printers, scanners, barcode readers, cash drawers, cameras, biometrics devices, routers, modems, cables, power supplies, etc. The renovation includes painting, flooring, lighting, signage, furniture, etc. The total cost of equipment and renovation may vary depending on the size and condition of your outlet. You also need to attend a training program that will teach you how to operate and manage your outlet. The training program covers topics 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
After you complete the training program, you can now open your outlet and offer the services of Master Siomai to your customers. You will also receive support and guidance from Master Siomai’s team of experts, such as account managers, field officers, technical staff, and quality auditors. You will also need to comply with Master Siomai’s standards and policies, such as:
- Operating Hours: You should operate your outlet from 8:00 AM to 5:00 PM, Monday to Saturday.
- Service Fees: You should charge a service fee of Php 5 to Php 15 per transaction, depending on the type of bill or service.
- Remittance: You should remit your collections to Master Siomai on a daily or weekly basis, depending on the mode of payment.
- Royalty Fee: You should pay a royalty fee of 1% of your gross sales to Master Siomai every month.
These are the basic steps and requirements for franchising Master Siomai. However, you should also be aware of the risks and challenges involved in the business, such as currency fluctuations, political instability, competition, and regulatory issues. You should also do your own research and due diligence before making any investment decisions.
Franchising Master Siomai can be a profitable and rewarding business opportunity for aspiring entrepreneurs who love siomai and want to share its deliciousness with others.
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