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What is a franchise give three examples?
A franchise is a business model where an individual or group (the franchisee) is granted the rights to operate a business using the branding, products, and operational systems of an established company (the franchisor). This arrangement often includes training and support from the franchisor in exchange for fees or royalties. Examples of franchises include McDonald's, Subway, and Marriott Hotels.
What is a franchisor?
A franchisor is a company that sells the right to use its name and/or operating systems to independent business owners. One of the best known franchisors is McDonald's.
What is a private sector franchise?
A private sector franchise is a business model where an individual or group (the franchisee) is granted the rights to operate a business using the branding, systems, and processes of an established company (the franchisor). In this arrangement, the franchisee pays an initial fee and ongoing royalties in exchange for support, training, and the ability to leverage the franchisor's brand recognition. This model allows for expansion of the brand while minimizing the financial risk for the franchisor. Examples include fast-food chains, retail stores, and service providers.
What type of support is provided by the franchisor?
they dont get any
What is the seller of a franchise called?
The seller of a franchise is called a 'franchisor'.
What is the purpose of a franchisor business?
known solutions, needs only sell
The share of profits or percentage of sales a franchisee pays to a franchisor?
Royalty
Which best describes what a franchise does?
A franchise ensures wide distribution of a franchisor's trademark, business model, and goods. A franchise protects a franchisor against companies imitating its trademark, business model, and goods. A franchise stops franchisees from using a company's trademark, business model, and goods. A franchise limits the use of a franchisor's trademark, business model, and goods.
Is the franchisee required to purchase equipment and supplies from the franchisor or other suppliers?
yes
Is the franchisee required to purchase equipment and supplies from the franchisor and other suppliers?
yes
How much room for negotiation does a new franchise owner have in relation to the parent company?
very little the agreement is written for the benefit of the franchisor all they are obligated to do is to provide use of their brand and trademarks and propriatary systems, and initial training there may be some flexibility in the design of the territory, depending on the franchisor's circumstances, but not in the fees, royalities, term of agreements, etc
Who is responsible for decision making in a franchise?
In a franchise, decision-making is typically shared between the franchisor and the franchisee. The franchisor establishes the overall brand standards, operational guidelines, and marketing strategies, while the franchisee is responsible for day-to-day operations and local management decisions. Ultimately, franchisees must operate within the framework set by the franchisor, but they have some autonomy to make decisions that suit their specific market needs. This collaborative relationship helps maintain brand consistency while allowing for local adaptability.
