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What is the seller of a franchise called?
The seller of a franchise is called a 'franchisor'.
What is the individual or firm that grants a franchise is known as the?
The individual or firm that grants a franchise is known as the franchisor. The franchisor provides the franchisee with the rights to operate a business under their brand and established business model, often including training, support, and marketing. In return, the franchisee typically pays initial fees and ongoing royalties to the franchisor.
What is the purpose of a franchisor business?
known solutions, needs only sell
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
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 individual or firm that grants a franchise is known as the?
The individual or firm that grants a franchise is known as the franchisor. The franchisor provides the franchisee with the rights to operate a business under their brand and established business model, often including training, support, and marketing. In return, the franchisee typically pays initial fees and ongoing royalties to the franchisor.
The share of profits or percentage of sales a franchisee pays to a franchisor?
Royalty
What is the purpose of a franchisor business?
known solutions, needs only sell
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
What are the disadvantages of a franchisor?
- established brand. - promotions ect. - less risk. - get advice & guidance.
What are some examples of a franchisor?
a person who starts a business a determined business man or woman
What happens to the profits in a franchise business?
In a franchise business, profits are typically shared between the franchisor and the franchisee. The franchisee retains a portion of the profits after covering operating expenses, while the franchisor may receive royalties or fees based on the franchisee's revenue. This arrangement incentivizes both parties to maximize profitability, as the success of the franchisee directly impacts the franchisor's earnings. Overall, profit distribution is governed by the terms of the franchise agreement.
What type of organisation is set up 'under licence' to use an established business name?
An organization set up "under license" to use an established business name is typically a franchise. In a franchise arrangement, the franchisee pays fees and royalties to the franchisor in exchange for the right to operate under the franchisor's brand and business model. This allows the franchisee to benefit from the established reputation and support of the franchisor while running their own business.
