OF OWNING A FRANCHISE? ADVANTAGES “Owning a franchise allows you to go into business for yourself‚ but not by yourself.” A franchise provides franchisees with a certain level of independence where they can operate their business. A franchise provides an established product or service which may already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base which would ordinarily takes years to establish. A franchise increases your
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ability to operate with minimal supervision | | e. | adequate financial resources and a good credit history | Answer: A 2. | According to a concept called ________ theory‚ it is more effective for the units of a growing chain to be run by franchises than by managers‚ because managers are usually paid a salary‚ and may not be as committed to the success of their individual units as franchisees‚ who are in effect the owners of the units they manage. | | a. | agency | d. | leadership
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of the franchise will take it upon himself to promote the franchised name or product‚ which will benefit the franchisee. 3) You may have exclusive rights to market the franchised products in your territory. One example is Starbucks Philippines. This one is franchised‚ yes‚ but the franchise belongs to just a single entity in the whole country. 4) A franchisee will enjoy the benefits of being supported by the franchisor. This is part of the franchise agreement. In return for the franchise fee the
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Franchisee McDonald’s is the biggest fast-food chain in the world that it boasts more than 30‚000 restaurants in 119 countries. With this unrivaled popularity‚ entrepreneurs who will franchise on McDonald’s will most likely succeed in the business; meanwhile this is how to start McDonald’s franchising. For those who want to franchise from McDonald’s‚ they can visit its companywebsite to know about the opportunities available to them are. Meanwhile‚ the corporation allows interested franchisees to open chains
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FRANCHISE AGREEMENT This Franchise Agreement is entered into as of the ____ day of ______________‚ _______‚ by and between Lugaw Queen‚ the Franchisor‚ with its principal place of business located at Marfori Subd. Road 4‚ Brgy. Silangan‚ Calauan‚ Laguna‚ and ___________________________‚ the Franchisee‚ with its principal place of business located at_________________________. RECITALS WHEREAS‚ Lugaw Queen has developed and owns the System; WHEREAS‚ Lugaw Queen intends to
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varieties of food choices. Third‚ Boston Chicken expended rapidly using the area developer franchise model. Fourth‚ Boston Chicken spent large amount of money on developing their computer software system to support its network of stores and linking headquarters to developer stores. Boston Chicken has two key success factors. The first one is their rapid expansion through franchising; the franchise fee is a main resource of the company’s revenue. The second one is that Boston Chicken put
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owner myself‚ and that was to discuss options other then buying. Based on the reading as well as my own research this is what I came up with Franchising? Or Licensing. Franchising vs. Licensing: An Example Franchising: Some fast-food chicken franchises cost more than one million dollars to get into‚ a LFC store costs as little as $150‚000 to establish a planned restaurant‚ even less for an existing one. This allows the “small guy” access to a successfully established product with a 30 year track
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franchising a business. There are 7 main sections of information on this website. The first section of the website is where you start your search for the perfect franchise opportunity. From the drop down menu you can select start a search. This allows you to search the database from hundreds of different opportunities. Scrolling down you can search franchise opportunities by industry‚ learn about franchising‚ read blogs about franchising‚ and find out information about franchising for veterans. The next block
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chooses to own a franchise does so for multiple reasons. Richard J. Judd and Robert T. Justis devised a list of ten basic steps new franchise owners must keep in mind. The first step is to self-evaluate. It is important for new franchisee owners to understand the commitment this new business will require of them. They must also have a grasp on their person strengths and weaknesses. One cannot simply ignore his or her weaknesses‚ as they may result in failure of the franchise. One of the most
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The business began in 1940‚ with a restaurant opened by brothers Richard and Maurice McDonald in San Bernardino‚ California. Their introduction of the "Speedee Service System" in 1948 furthered the principles of the modern fast-food restaurant that the White Castle hamburger chain had already put into practice more than two decades earlier. The original mascot of McDonald’s was a man with a chef’s hat on top of a hamburger shaped head whose name was "Speedee." Speedee was eventually replaced with Ronald
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