Have you ever heard of the know-how, what it is or how important it is for creating businesses?
This expression refers to the knowledge that allows a company to offer added value to its products or services in order to be more competitive in the market.
A company's know-how can be global or focused on any area of the business (marketing, production, sales, finance, distribution, customer service, etc.).
All you need is to consolidate and explain in a manual or in a system (such as a digital platform) how to perform an activity effectively.
With franchises, know-how is the basis for franchisees to enter the market without previous experience, but with better chances of success.
Know-how is an organization's intangible asset that groups together all the knowledge that has led a company to success.
It is built through the positive and negative experiences of a business and is fundamentally practical by nature.
It’s also defined as being:
This means that it does not just talk about a business philosophy or vision, but about specific things (ingredients, techniques, processes, etc.).
Business know-how is part of the DNA and of the “reproduction and imitation” process between a franchise and a franchisee. This is because in this business model, the description and subsequent implementation of processes is of utmost importance.
In order to be transmitted, the know-how of a franchise must be perfectly identified and described, ensuring that it meets the secrecy and objectivity conditions. Therefore, the provision of such information is regulated in a contract that may include confidentiality clauses to prevent it from being disclosed to third parties.
What is its importance? If the know-how is adequately developed, the business' appeal will be greater. As a result, the initial costs will be reduced, and the profitability will be higher.
The main benefit of having know-how is the competitive advantage over companies in the same sector, which is a fundamental element in the marketing and advertising of services or products.
Other advantages include:
Having know-how is valuable, but managing it can be challenging:
Know-how is, by itself, an element of knowledge management, both explicit (through training programs, books, and manuals) and implied (through the employee's experiences and transmitted to the staff).
However, if a franchise has its own know-how, but fails to pass it on to its franchisees, interest in the franchise may be lost.
This is where another important element comes into play: how to pass on the know-how. Obviously, the simplest way is to develop a manual or provide training courses to help pass on the know-how to employees.
In Jeff's case, we have opted for digitalization to transmit our know-how to entrepreneurs who want to open a business with us.
How? Thanks to BiB (Business in a Box), a set of tools for business management through which we transmit our know-how to franchisees and give them the keys to apply it.
BiB is a more complete online platform for entrepreneurs. In it, we have compiled all the information of the Jeff ecosystem, with our general know-how, but also with the specifications for Mr Jeff, Fit Jeff, and Coffee Jeff.
In BiB you have everything you need to boost your business with a worldwide, established brand with proven quality standards.
What will you find on this platform?
Well, basically everything you need to run your Jeff business.
In conclusion, we can say that the know-how of the company plays a fundamental role in companies, but especially in franchises. At Jeff, we have our own "know-how" so you can open your own successful franchise. Would you like more information? You can contact us from our website.