0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why is a franchising such a fast growing form of retail organizations?
Franchising also allows for increased distribution of a product. Franchisee's money expands the business while the franchisor collects initial fees and royalties, creating a successful business for the franchisee and brand expansion for the franchisor
Why is franchising attractive to some people?
Franchising requires capital, not any development of know-how or a brand.
What is first step in franchising a business?
The first step in franchising a business is identifying what areas your business can branch out into. You need to remember that you are selling opportunity to any potential franchisee.
Where can one find information on franchising your business?
There are a number of websites which offer step by step instructions on how to go about franchising a business. Another way of finding information is to look at business related books at libraries or bookstores. The final way of getting franchising information would be to speak to a business adviser.
How does one go about franchising their business?
One could franchise their business but it will not be cheap, it will be quite expensive in fact. Entrepreneur dot com has some great tips for new people to franchising.
Why is a franchising such a fast growing form of retail organizations?
Franchising also allows for increased distribution of a product. Franchisee's money expands the business while the franchisor collects initial fees and royalties, creating a successful business for the franchisee and brand expansion for the franchisor
What is the limitation of franchsing?
The limitation of franchising is that the franchisor has to disclose confidential information to franchisees and this may constitute a risk to the business.
Advantages and disadvantages of franchising from the point of view of franchisor?
advantage for the comapany is to grow without using it's cash, credit, or dilution of stock and receive ongoing income stream without the associated G & A costs of expansion disadvantage is a somewhat loss of direct operational control
What are the advantages of franchising to the franchisor?
There are many advantages to franchising for the franchisor. Enhance the profitability of the successful business model you built yourself by transplanting the concept to new locations and settings. Once you build up a thriving franchise model, your business will sell itself. You can sit back as a franchise manager while your business - and your profits expand. Franchise portal, in the link below, provides access to a broad number of prospective franchisees. If you are looking to franchise your business concept, let Franchise Direct help you get off the ground. --------------------------------------------------------------------------- The most obvious advantage of franchising to the Franchisor is that of expansion. He gains advantage to expand a venture quickly with little capital. The Franchisor will now be able to supply in large quantities thus achieving an economies of scale There is also the ability to commit larger amount to advertising.
What is the franchise?
Franchising is the practice of using another firm's successful business model. For the franchisor, the franchise is an alternative to building 'chain stores' to distribute goods that avoids the investments and liability of a chain.
What is franchising?
Franchise" is an agreement between two parties which allows one party i.e. the franchisee, to market product or services using the trademark and operating methods of the other party i.e. the franchisor.
What is franchising agreement?
The franchise agreement is the cornerstone document of the franchisee--franchiser relationship. It is this document that is legally binding on both parties, laying out the rights and obligations of each.
What questions should you ask a franchise start up agency?
Congratulations on taking the first initiative to franchising your own business, which is certainly a great way to expand your Business without having to invest your own money, or create more work for yourself by delegating them to other Entrepreneurs who will run the entire operation for you in correspondence to your system, consequently allowing massive scalability of your Business passively. Due Diligence is essential to owning a Franchise, starting a Business, and the same applies to Franchising your own Business. You can begin by speaking with people who are involved in Franchising. Lots of them can be found in Franchising expo's where you can directly ask the franchiser's head office on what their thoughts are of the source who helped them franchise their operations. Making comparisons with existing Franchises is also vital. Visit Franchise Portals, and request more information from related Franchises so you can acquire some insights into their extensive Franchise Disclosure Document(FDD), which is the primary obligation of a franchisor - prior to selling a franchise. A franchisor must also comply with the "Federal Franchise Rule" (16 CFR 436, 437) respecting the disclosure obligations of a franchisor. Many of these resources can be found under related links below, and I have also provided a link where you can request a Free Consultation from a qualified Franchise consultant to assist you on the whole nine yards of Franchising your own Business.
What support will franchiser give to the franchise?
The level of support given by a franchisor to its franchisees differs between franchisors and franchise systems. The relationship between a franchisor and its franchisees, including the level of support to be provided to is franchisees, is primarily governed by the terms of the franchise agreement. The franchise agreement should contain specific sections whereby the franchisor's "support" obligations are identified and defined. Typically a franchisors "support" obligations relate to (a) initial training and (b) ongoing support respecting the day-to-day operations of the franchise business, including administrative activities, marketing and management. When entering into a franchise relationship, prospective franchisees must recognize that the terms of their franchise agreement may be "broadly" drafted and that the franchisor's on-going "franchisee support" obligations may not be clearly defined. Accordingly, prospective franchisees must reach potential "franchise opportunities" and engage in a detailed due diligence investigation that should include contacting and speaking with existing franchisees to inquire as to that franchisees satisfaction with the level of support and training that has been provided by the franchisor.
How franchising effects the modern businesses?
effect of franchising
What is the Tagalog word for franchising?
Tagalog word for franchising: pagpaprangkisya
What are the advantages and disadvantages of franchising?
The advantages of franchises include the following; Getting assistance from financial institutions Training of personnel Ability to access market research They are able to access standard stock control systems The disadvantages include; Franchisor may not renew the contract at the end of the term Buying a franchise requires payment Long decision-making processes Limited territory within which to operate
