FINDING A FRANCHISE
HELP AND ADVICE
ADVERTISE WITH US
Friday 25th January 2008
These days franchising is an ever growing sector providing people with a way to become their own boss and see all the results of their hard work and dedication going straight to them.
So what is franchising? The modern definition is to do with business format franchising and is the licence given by the franchisor to the franchisee to allow them to use their trade mark / trade name and to provide a fundamental guide / package to enable the franchisee to run their business. It also involves an ongoing relationship between the franchisor and franchisee based brand, system, support and the franchise agreement.
There are advantages for the franchisee in choosing franchising as by using a proven system there is a greater chance of success with the network buying power there to help them as well. You also need to remember though that there are initial and continuing fees and you need to comply to network standards. Therefore franchising can appeal more to people who like following a system, rather than those who are entrepreneurial.