Business

Classified in Economy

Written at on English with a size of 1.82 KB.

 

Benefits of Franchising:A business system,Management training and support(Start-up,Ongoing),Brand name appeal“Cloning”,Standardized quality of goods and services,National advertising programs(Franchisees contribute 1% to 5% of sales),Financial assistance(Only 20% of franchisors offer direct financial assistance to franchisees,SBA – Franchise Registry),Proven products and business formats,Centralized buying power,Site selection and territorial protection(Important issue:
Territorial encroachment)
,Greater chance for success

 Factors That Make a Franchise Appealing:Unique concept or marketing approach

,Profitability,Registered trademark,Business system that works,Solid training program,Affordability,Positive relationship with franchisees

A system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right to become identified with its trademark, to sell its products or services, and often to use its business format and system

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