Welcome to Franchising
Franchising is the most successful business format in history
Imagine opening 20 new business locations without having to foot the bill for real estate, equipment and development costs or taking on any of the risk.
Even more, imagine finding managers to run all those locations, who are just as committed to growing the company as you, and you don’t have to pay them, instead they pay you for teaching them the secrets of how to operate your business.
Finally, imagine that these managers will hire, fire and manage all employees as well as foot the bill for all operating costs and expenses.
Welcome to Franchising -- the most successful business format in history.
Franchising is, without a doubt, the best way to achieve rapid, profitable growth without giving up any control or ownership.
What is a Franchise?
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A franchise is an agreement between two parties which gives an individual or group the rights to market a product or service within a certain territory or location using the trademark of another business.
An individual who purchases and runs a franchise is called a "franchisee". The franchisee purchases a franchise from the "franchisor". The franchisee has the rights to market the product or service using the operating methods of the franchisor.
In most cases the franchisee must pay an ongoing franchise royalty fee, as well as an up-front, one-time franchise fee to the franchisor in exchange for these rights. The franchisor has the obligation to provide these rights and generally support the franchisee.
In this sense, franchising is not a business or an industry, but a method used by businesses for the marketing and distribution of their products or services. Both franchisor and franchisee have a strong vested interest in the success of the brand and keeping their customers happy.