CryptoFranchise: The first blockchain platform for the franchise industry
The franchise sector is well-known for its resilience against unfavorable economic conditions, as such it has continued to grow despite the harsh economic background left after the last financial crisis. This business model has nonetheless been able to experience a double-digit growth for the last ten years, and is still expected to increase this rate.
However, technology is advancing at an unprecedented manner, making it easier each time for customers to look for and buy the products that satisfy more their needs. This is disrupting the typical retail franchise business model, as offline shopping (going to actual shops to purchase products) is decreasing over time with the rise of the online consumer. Despite this clear consumer trend, the franchise business has been skeptic to implement new measures to adopt technology into their industry.
Cryptofranchise wants to be the solution for all the retail businesses who understand the threat technology is imposing on their business line. How are we going to deal with the problem at hand? By using and implementing the most sophisticated, technology-advanced and easy-use blockchain platform that will connect and offer consumers the best online-offline shopping experience. In this manner, franchising will evolve and learn from the new trends in consumer shopping and adapt to maintain its privileged position at the top of the shopping-chain. All the franchise companies will be able to see how the platform operates and then, if convinced to join the community, will be given their own customized and personal blockchain for their brand that will be ready for use as soon as it is delivered. This Plug&Play solution, will avoid franchises from going through the costly and time-consuming process of building their own technology from scratch. Offering them their own unique, customized and secure blockchain.
The principal objectives of the Cryptofranchise system are:
- The tokenization of the franchise business. By fully tokenizing the franchise industry both franchisee and franchisor will get a deeper insight on consumer trends and needs, helping them to develop their products to satisfy these needs.
- Align the vision of both franchisor and franchisee. In this way, both of them will unite to reach a same goal, avoiding any conflict of interest. By having a brand token, both franchisor and franchisee will work together to increase the token value
- The capitalization of franchise initial expenses (such as the entry fee) using the brands owned token
- To build an ICO platform where franchise brands can create their own ICO and finance their business expansion.
- The platform will also be available for those companies that want to make a loyalty campaign for their customers. The Cryptofranchise system will be able to receive an initial payment from the brand, and by means of a smart contract, give in exchange loyalty tokens that can then be used by the clients of the brand.
- Creating an inmutable and secure ledger where franchisors and franchisees can manage efficiently all the legal, financial and operational aspects
Initially, the Cryptofranchise platform will be focused on persuading small-medium sized franchise business operating on the retail sector. The platform will target companies in need of raising funds for expansion as it will facilitate to them the chance of making an ICO for such purpose. In addition, CryptoFranchise will be extremely suitable for companies with the objective of creating an efficient loyalty token program as the system is programed in order for franchise firms to generate loyalty tokens, independently if the company desires to make an ICO or not. On the long-run, Cryptofranchise will be more developed and ready to offer their service to large and international franchise firms.
Cryptofranchise will always work towards being ahead of two main issues: new customer´s trends, and the franchisor and franchisee needs that will come up with them. We believe that the only way to accomplish this is by staying at the edge of technology, where the platform was born, because that is the true engine that will always drive the change.
Our ultimate mission and goal for the near future is to make Cryptofranchise a standard and a necessity for every franchise in the world.