Contents
1 Definition of Franchising
2 Businesses for which franchising works best
3 Advantages
4 Disadvantages
Definition of Franchising
Franchising refers to the method of practicing and using another persons philosophy of business. The "franchisor" authorizes the proven methods and trademarks of his business to the "franchisee" for a fee and a percentage of gross monthly sales. Various tangibles and intangibles such as national or international advertising, training, and other support services are commonly made available by the franchisor. Agreements typically last five to twenty years, with premature cancellations or terminations of most contracts bearing serious consequences for franchisees.
Businesses for which franchising works best
Businesses for which franchises is said to works best have the following characteristics:
Businesses with a good track record of profitability.
Businesses built around a unique or unusual concept.
Businesses with broad......
Join Now or Login to view the rest of this paper.
Approximate Word Count: 736
Approximate Pages: 3 (260 words per double-spaced page) |