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The British & International Franchise Exhibition 2017

The British & International Franchise Exhibition, Olympia, London 20 – 21 Jan 2017 Banner

On Friday 20th and Saturday 21st, Jan 2017 a very interesting exhibition took place, where we had the opportunity to visit not only big players as McDonalds and RE/MAX but also other well-established businesses looking to expand via franchising. In addition, there were plenty of conferences and workshops to learn about the procedures and tactics used in franchising.

Here is a short summary of all the useful notes to be considered from all the workshops and conferences that we took part in, for both the franchisor and the franchisee:

  • Be realistic and not overambitious.
  • Take legal advice from a franchise lawyer.
  • Learn about the viability of the business you are about to embrace.
  • Understand the context and the numbers related to franchise finances.
  • Search for expert advice.
  • If you are planning to borrow money for your franchise project, talk to more than one bank.
  • Read carefully the franchise agreement.
  • Franchising laws vary from one country to another and there are some that have none.
  • Usually, franchise agreements tend to last 5 years, but there are exceptions.
  • The initial fee usually covers training and additional equipment (for example banners).
  • The monthly fee usually covers management and maintenance service plus a part for global marketing.
  • Remember that to be a franchisee means you will have to maintain a minimum level of sales. There is usually a minimum performance clause in each agreement.
  • To acquire a franchisee may take in between 6 weeks to 4 months.
  • Do not rush through the process or you will end up with the wrong franchisee.
  • There is no get rich quick scheme!
  • Do not think that the franchisor will get the leads for you; they may help but is up to the franchisee to grow.
  • Usually, to recover your investment as a franchisee may take up to 2 years, do not expect profits in the first year.
  • Learn about the financial information for both franchisor and franchisee.
  • It is always better to have a couple of meetings face to face.
  • Be prepared and flexible when approaching a potential franchisee.
  • Be aware of time differences.
  • Follow a system. Make the system easy to learn for others.
  • Invest in training creation.
  • Know when it is time to stop holding hands. A franchisee is very similar to raising a child.
  • The franchisor should train, coach, motivate and monitor. But do not suffocate the franchisee.
  • Always protect your trademark at the earliest possible.
  • Understand cultural differences.
  • A franchisee candidate can be: an organization looking for diversification, a strong business leader looking for their own venture, an investor with strong management skills, and a company similar to the franchisor.
  • Do not set up a lot of franchisees in a short period of time if you know that you will not handle them properly.
  • Prepare in case things go wrong. If your franchisee fails you may be dragged to failure too.
  • If possible became a member of a franchise association as BFA (British Franchise Association) or EFF (European Franchise Federation).
  • To success in franchising align and embrace brand values.
  • Visit the franchisor and the franchisee office.
  • Listen to everyone’s ideas.
  • Work with a tested system and implement new solutions when required.
  • Recruit and develop quality people with problem-solving skills.
  • Be aware of taxation practices related to franchising.

    At The British & International Franchise Exhibition, Olympia, London 20 – 21 Jan 2017

 

At this moment you may be asking yourself… Why would a translation company go to a Franchising exhibition?

There are two answers to this question.

The first answer is: because every company that wants to have franchisees requires translation services to expand their global scope.

Any company that would like to enter the European market require a trustable translation partner.

This will allow them to translate and localize legal documentation, marketing campaigns, and their websites in order to reach the desired locations. At Jensen Localization, we have 16 years of experience providing reliable, accurate and fast translation and localization services. If your company is willing to have franchisees all over Europe, get in touch not to be lost in translation.

The second answer is: that we are the first translation company to franchise our formula. We are a recognized trademark under the EU trademarks registry. We have extensive experience in the localization market. We have 3 offices that allowed us to gain experience in providing localization services. A central office in order to have the others running smoothly and focusing on translation as their main focus rather than IT, Administration and Marketing. If you would like to know more about being an ambassador of our company, contact us to schedule a visit to our office in Fuengirola, Spain.

At Jensen Localization, we hope that you found this article useful to help you succeed in your franchising plans. If you have suggestions or questions about this article e-mail us!

Networking in the translation industry. The GALA conference in Seville.

GALA roll-upIt is time to find cooperators and not competitors. Competition exists and will always be there, and actually I think that our competitors are more outside the translation industry that inside.

Compared to other industries, I think that the translation industry is quite collaborative, long before the term networking term was coined.

Therefore, we are very used to do networking. We attend congresses and seminars where we find both freelancers and translation companies with whom we discuss opportunities for collaboration, because even if we do the same, there is always something where you are the best and something where you need help.

The last event we attended was the GALA conference in Seville, Spain, held in the end of March.

It was the first time we attended a GALA event; we attended conferences in the past such as Localization World, or TAUS Summits, but we never attended any event from GALA. And I must say that it was nice to be back in a translation event.

I thought it was going to be a European event, so to speak, and it came as a nice surprise to see that there were people from all over the world, from the US to South Korea and a large representation of Argentinean companies.

From this blog I want to thank the GALA organisers for organising a networking event where, in a very few minutes, we had the opportunity to meet around 60 people, which is absolutely not bad.

Does this mean that I will make business with each person I met? That would be great, but it is not the purpose of a networking event. In a networking event you get a first picture of a person or business, and it is not until you are back in your office that you start contacting those that attracted your attention most. Do not be afraid if you do not close a deal after a networking event, or if you do not hear soon from someone you met. Maybe at that moment there was not a need to get in touch, but that need may arise later and be sure you will be contacted if they need you.

So, do not worry about preparing a perfect sales pitch for a networking event. Instead, try to get information from your counterparts, see how you can help them and they will in return ask you how they can help you. And it is then business may come.

Attending all sessions was completely impossible, for obvious reasons, so I had to make a choice. Due to my job position, I focused on the sales speeches, and I enjoyed very much the open discussion about collaborative selling with Anne-Marie Colliander Lindt from Inkrea.

Despite companies having a sales specialist, companies need to be aware of the fact that all departments are part of the sales cycle. The whole staff needs to be aware of it too, and for that they need information and training.

For example, if the IT department helps the production department, PMs and translators will be able to work more efficiently, and therefore, the client will trust the company more and this can lead to more sales.

PMs are the ones talking with clients on a frequent basis, they are the ones clients will ask when they need help, and they are the ones getting important feedback from the client that can help the sales staff to prepare specific offers and proposals to increase sales.

And this is true not only for translation companies, but for any company. Communication, proactivity, team spirit and thinking about the general benefits and not the individual ones will be crucial in the success of your company; no matter how good your translations are or how much you invest in technology.

TAUS Workshop on Post-Editing

Last February, our Acquisitions and TM Manager, Alicia González, attended a workshop on Post-Editing organized by TAUS in Amsterdam and presented by Dr. Sharon O’Brien from the Centre for Next Generation Localization/School of Applied Language and Intercultural Studies at Dublin City University.
Many Dutch translation companies were present, but also other big companies such as Google, who have an internal Machine Translation project in development.
The purpose of this workshop was to know more about what Post-Editing is, the tasks involved and the difference compared to human translation. Aspects like economic impact and the role of LSPs were also discussed. Below you have some notes about the workshop content.
What is Post-Editing (PE)?
PE is commonly known as the process of improving a machine-generated translation with a minimum of manual labour.
There are two main degrees of PE, a full PE, similar to human translation, and a light PE, aimed at achieving “good enough” quality. The client needs (deadline, type of text, purpose of the text, duration of the information once published) will determine the type of PE to be done.
Usually, light PE is for jobs with very tight deadlines or continuous updates, where more importance is given to getting the message of the translation through, than to have a nice, grammatically correct and full of stylistic resources text.
On the other hand, a full PE is recommended for jobs with better deadlines, in which not only the importance is given to the message, but also to the way the message is transmitted to the reader. Grammar, spelling and style play an important role in full PE.
It is important for translators/post-editors to know how to work with the raw output so that PE does not become a waste of time (and therefore, a waste of money). The PE effort depends on the quality of the raw output:
Good: Only minor PE is required in terms of actual changes or time spent on PE.
Medium: Severe PE is required or maybe just minor PE after spending too much time trying to understand the intended meaning and where the errors are.
Poor: it would be better to manually retranslate from scratch (PE is not worthwhile).
Regarding the economic implications, it is not true that PE is replacing the old word-rate model. Some companies pay it per hour, but many of them still rate PE per word as a fuzzy rate.
Finally, one of the purposes of PE is to improve Machine Translation engines, so feedback should always be given after the PE task so that the PE efforts are minimized in the next job.
Can all jobs be done with MT and therefore be post-edited, instead of translated “the old fashioned way”? Will this be the end of LSPs? At Jensen we think that although a great advance has been made in the industry, not all texts are useful for MT, neither all languages. Only time and technology will tell us if we are right or not. The truth is that MT and PE are already here and it will not be the end of LSPs like us, PE will be just another service provided to our clients in addition to human translation. We just have to adapt our procedures to the new trends of the market.
For more detailed information or doubts about PE, you can contact Alicia at agonzalez(at)jensen-localization.com or visit TAUS website, http://translationautomation.com/.
We would like to thanks Sharon O’Brien for sharing her notes about PE with us so that we can now offer some training material to our translators, and TAUS for organising such an interesting event.