Franchise
Franchise is a business partnership model where an already existing business, the franchisor, grants permission to individual entrepreneurs, the franchisees, to operate their brand, business concept and products or services in exchange for a fee. This model provides an opportunity for entrepreneurs to start their own business with the support and proven business formula of the franchisor.
The essence of franchising
Franchisees benefit from brand awareness and often gain access to training, marketing support and purchasing benefits. However, the franchisor retains control over the quality and uniformity of the products or services offered. Franchise is widespread in industries such as fast food, retail, and services.
It is important to note that the specific terms and costs of franchising can vary widely, and success requires a good match between franchisee and franchisor, in addition to hard work and dedication. This model provides a structured way to run your own business, while reducing risk through the franchisor's proven formula and brand recognition.
