A franchise is where a business sells a sole proprietor the right to set up a business using their name.
Examples of major franchises are:
The franchisor is the business whose sells the right to another business to operate a franchise – they may run a number of their own businesses, but also may want to let others run the business in other parts of the country.
A franchise is bought by the franchisee – once they have purchased the franchise they have to pay a proportion of their profits to the franchiser on a regular basis. Depending on the business involved, the franchiser may provide training, management expertise and national marketing campaigns. They may also supply the raw materials and equipment.
The advantages of being a franchisor:
The advantages of setting up as a franchisee are:
The disadvantages of setting up as a franchisee are:
In conclusion, a buying a franchise a good way of an individual setting up a business because:
Our Year 1 (AS) Course Companion is the designed as a high quality and cost-effective replacement for expensive and overly complicated textbooks. The Course Companion maps precisely against the specification and teaching content for Year 1 (AS) and provides students with comprehensive and concise coverage of what students really need to know and understand.