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A business franchise is an agreement between the franchise and the business owner where the owner agrees to pay a certain amount of money for use of the business' name and usually requires the business owner to pay the business entity a certain percentage of sales. In return, the the business provides low cost advertising for the franchise and a string of suppliers which in turn makes it easier for the franchisee to run the business. This is usually the most common form of entry for an entrepreneur. The biggest advantage of going this route is the brand recognition such as the golden arches of McDonalds.
Wiki User
∙ 12y ago
Wiki User
∙ 10y agoWhen you get into a franchise you are paying royalty for using the company name. Usually it's only a few percent. You will have to pay a start up which can vary depending on the business. When you are ready to get out of the business, you can "sell" your ownership to another person who is looking for an established franchise.
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Is ShopRite a private business or franchise?
private business
Why might a person who wishes to go into business not want to consider a franchise arrangement?
You have to pay for a franchise and there are restrictions on how you do business and what products you can sell. The details vary, so you have to study the franchise agreement and decide if you want to work that way and if it is worth the money. If you have plans for a business or product that that is original in any substantial way, you do not want to have a franchise arrangement.
What type of franchise business could one buy and run from home?
You can buy a franchise such as Avon to begin a home business. You will have to work hard to develop a client base initially, but the end result can be lucrative.
How do you use business franchise in a sentence?
The business franchise is run by a local family, but the main business started in Kentucky.
What is the largest business franchise in the year 2011?
A franchise called 'Unishippers' won the Business Franchise Award for 2011. It is a business that packs up your items to be shipped and then ships them our for you.
Is ShopRite a private business or franchise?
private business
PCD Pharma Franchise Business?
PCD Pharma Franchise Business
Why might a person who wishes to go into business not want to consider a franchise arrangement?
You have to pay for a franchise and there are restrictions on how you do business and what products you can sell. The details vary, so you have to study the franchise agreement and decide if you want to work that way and if it is worth the money. If you have plans for a business or product that that is original in any substantial way, you do not want to have a franchise arrangement.
What type of franchise business could one buy and run from home?
You can buy a franchise such as Avon to begin a home business. You will have to work hard to develop a client base initially, but the end result can be lucrative.
How do you use business franchise in a sentence?
The business franchise is run by a local family, but the main business started in Kentucky.
What is the largest business franchise in the year 2011?
A franchise called 'Unishippers' won the Business Franchise Award for 2011. It is a business that packs up your items to be shipped and then ships them our for you.
Do I need a business plan to start a franchise?
You should have a business plan as it will greatly help you in starting a franchise. You should start a small business first and then expand to a franchise.
How does a franchise work?
A business franchise is an agreement between the franchise and the business owner where the owner agrees to pay a certain amount of money for use of the business' name and usually requires the business owner to pay the business entity a certain percentage of sales. In return, the the business provides low cost advertising for the franchise and a string of suppliers which in turn makes it easier for the franchisee to run the business. This is usually the most common form of entry for an entrepreneur. The biggest advantage of going this route is the brand recognition such as the golden arches of McDonalds.
Where can one find information about buying a franchise business?
One can find information about buying a franchise business from the following sources: Franchise Direct, Chips Away, Entrepreneur, Business For Sale, Small Business Administration.
How do you franchise a business?
a franchise is a chain of businesses linked togethter there can be a 1-20 owners of a franchise.
Is nandos a franchise business?
no
How do you open a business franchise?
To open a business you will first need to obtain a business license. Then you would have to obtain a space and then purchase the franchise that you are interested in.
