Franchise
Concept of franchise
There are thousands of franchised businesses, covering nearly every conceivable industry, from well-known national brands to smaller, local opportunities. The challenge is to decide on one that both interests the investors and is a good investment. The term franchise basically illustrates the concept of buying an international company and using in a different country/state. In other words it means one is buying the right to use a specific trademark or business concept. The business run is essentially the same as all other business being run under the same name. In order to do this, it is require buying things like products, tools, advertising assistance, and training from the franchisor (the company that owns the rights to the business).
Benefits of being a franchise
One can attain a number of benefits on purchase of a franchise: * Reduced risk - Franchises traditionally have a much lower failure rate than other start-up businesses. * Receive a complete package - The total package can include trademarks, easy access to an established product; a proven marketing method; equipment; inventory; etc. * Strength in numbers - When you're becomes a franchisee, one have the buying power of the entire network, which can help to get product and compete with larger national chains. * Business processes - Many franchisors provide their franchisees with various proven systems including financial and accounting systems; ongoing training and support; research and development; sales and marketing assistance; planning and forecasting; inventory management; etc. They'll show the techniques that have made the business successful and help to utilize them in developing your own business. * Financial and site selection assistance - Some companies will help to finance the initial franchise. They also may help with site selection, making sure that the business is located in an area where it can thrive. * Advertising and promotion - Not
There are thousands of franchised businesses, covering nearly every conceivable industry, from well-known national brands to smaller, local opportunities. The challenge is to decide on one that both interests the investors and is a good investment. The term franchise basically illustrates the concept of buying an international company and using in a different country/state. In other words it means one is buying the right to use a specific trademark or business concept. The business run is essentially the same as all other business being run under the same name. In order to do this, it is require buying things like products, tools, advertising assistance, and training from the franchisor (the company that owns the rights to the business).
Benefits of being a franchise
One can attain a number of benefits on purchase of a franchise: * Reduced risk - Franchises traditionally have a much lower failure rate than other start-up businesses. * Receive a complete package - The total package can include trademarks, easy access to an established product; a proven marketing method; equipment; inventory; etc. * Strength in numbers - When you're becomes a franchisee, one have the buying power of the entire network, which can help to get product and compete with larger national chains. * Business processes - Many franchisors provide their franchisees with various proven systems including financial and accounting systems; ongoing training and support; research and development; sales and marketing assistance; planning and forecasting; inventory management; etc. They'll show the techniques that have made the business successful and help to utilize them in developing your own business. * Financial and site selection assistance - Some companies will help to finance the initial franchise. They also may help with site selection, making sure that the business is located in an area where it can thrive. * Advertising and promotion - Not