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Franchising
Franchising refers to the practice of using a successful business model of another company. For the franchisor, a franchise is a substitute to developing ‘chain stores’ to distribute goods and avoid liability and investment over a chain.
1,429 Questions
What is the definition of franchise?
A franchise is a person which license forms and a franchise is a person who deals with all the profits and deals with all the difficulties with in the jod they are doing.
You own and operate a well known biz but pay them a percentge for the use of the name
What sports franchise is the richest in the US?
As of the 2007 NFL Season the Dallas Cowboys are the world's richest sports franchise with $1.5 Billion.
What is the cost of purchasing a Tim Horton's franchise?
It starts at about 450,000 and goes up depending on location and some other factors. You can find more information about this on their website at www.timhortons.com
What was the first NFL expansion franchise in August 1965?
The Atlanta Falcons were granted an expansion franchise in the summer of 1965 by NFL Commissioner Pete Roselle to begin play in the NFL in the 1966 season.
What are the requirements in franchising lotto outlet?
Application for a lotto outlet in metro manila is said to be closed unless you have a new building or mall which is at least 100 meters away from schools and other lotto outlet. But if you're in the province there's a greater chance your application will be approved.
Visit www.pcso.gov.com.ph... it's the official PCSO website. It has all the necessary requirements including cost for an aspiring lotto agent. YES! it's applying as a LOTTO AGENT not FRANCHISING LOTTO since it's a government owned business so you do not have to pay for it's name. The site also contains the application forms and other instructions as to how to apply as a lotto agent, or better yet, go directly to the PCSO office but BEWARE of FIXERS.
If you apply online, be careful for there are lots of Scams on the web-wide world. Also, if you are planning to buy an existing lotto outlet, investigate why it is being sold and inquire the PCSO office if transfer of lotto ownership is allowed. Hope this helps all those who are interested in becoming a lotto agent :)- LENYGANDA
Starting a new business always takes 3-4 years in break even and requires huge capital. Franchising provides an excellent opportunity for rapid expansion without an enormous outlay of capital. By becoming a franchisee, an individual or an entity is legally allowed to sell goods, services or concepts that are offered by the franchisor. It’s always a wise and fruitful decision to become a franchise and gain from experience of a company and successful business model. Reasons to take a franchise
Lower Cost & Faster Expansion
Track record of Success
Strong Brand Image
Training Programs
Ongoing Operational Support
Edify Schools are known for their academic excellence, sports facilities and co-curricular activities. The schools have excellent infrastructure which includes spacious Libraries, Wonder Rooms, Music Rooms, English Labs, Math Labs and Science Labs. The extensive use of technology for teaching, and learning through researching, makes the entire learning process both enriching as well as effective.
We provide a comprehensive hands on solutions approach, right from inception, planning, implementation and ongoing operations.
Edify Education focuses on building communication among all our Edify Schools and extends comprehensive and seamless services.
Managed by an able team of personnel which includes academicians, technology and design experts as well as content developers, our team supports our franchisee at each stage of the operations.
Edify schools utilize the unique 3C planned methodology in their philosophy and practices. We provide a well structured curriculum which has been designed systematically with rich content, a diverse style of approach, and a flexible and focused methodology, with well defined learning outcomes.
A lot of research and development by a team of dedicated and committed professionals has gone into developing the 3C curriculum, which ensures the overall development of the young learners. This in turn equips them with the ability to face any challenge or uncertainty that they may face in their future.
What are the rules and regulations of owning a restaurant franchise?
go see this link for some
http://world.subway.com/Countries/DevelopmentFiles/capital_int_trad_04_2005.pdf
What is an example of a franchise?
A franchise is the grant of distribution of products, techniques, trademarks, etc.
McDonalds are a franchise.
Subway
McDonald's
7-Eleven
Hampton Inns & Suites
Great Clips
H&R Block
Dunkin Donuts
Jani-King
MiniMarkets
How much is the profit margin of a franchise?
Generally you should expect 10% non operator. If you plan on being owner/operator you can expect 10-20% or even higher based on your knowledge and dedication.
What is the difference between a franchise and a license?
Every franchise contains a license. Many licenses, on the other hand, are really disguised franchises. See the Franchise Foundations website for some informative articles on the franchise vs. license differences.
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
What are the most profitable retail businesses in California?
Apple stores are America's most profitable retail operation. Not sure about California exclusively.
Hybrid franchising is the process of taking a traditional franchising concept and applying state-of-the art business practices, technology and real time market conditions to enhance and or improve on a previous franchise process.
What is the cost of Andoks Chicken franchise?
hi.. as far as i know.. andoks is not open for franchising. Sandy Javier (the owner/president and brother of Danny Javier - APO's trio member) will never sold his father's blood and thirst as he said.
How do I get some information on franchising a Family Dollar Store?
Take heed in this. Over 70% of the businesses that start today will fail within the first five years. This is not to say they will make it that long, but they will fail within that time frame. Some in a year, some maybe longer, but they will fail. Why? Because of the following:
- They never developed a written plan or strategy
- Not enough start up capital
- They never sought help from an experienced mentor
- They never took a business course or courses
The above is not to scare you, but to warn you so that you become one of the 30% that are successful. Look at the Strengths, Weaknesses, Opportunities, and Threats (SWOT analysis), of your vision of becoming a successful business owner. What you need to do is identify each one of the categories I listed, and maximize the strengths and opportunities, while minimizing the weaknesses and threats. May you experience great success!
The first step to starting a Franchise is to identify the type of Franchise that you want to own.
There are hundreds of great Franchises available throughout all industries such as Franchises in food, automotive franchises, coffee and beverages, automotive franchises, financial franchises and much more, most of which have had a proven track record of success, and boasts a strong brand recognition.
You can find all of these Franchise opportunities under related links below.
Once you have found your ideal Franchise, Due diligence will be the next most important step. All Franchises require you to fill out a short form to obtain more information from the prospective franchises, which can be done through Franchise portals or directly from the company's website.
You will then be directly in touch with the prospective Franchisor's, and hiring a Franchise lawyer to review the franchise agreement is also essential.
What are the risks involved with buying a time share?
Don't buy a timeshare. Let me repeat-- Don't buy a timeshare.
People routinely get seduced into thinking their little time in heaven should translate into doing it again and again.
Don't be fooled. A timeshare is an expensive hotel room without services. You can buy five-star-hotel services anywhere on the planet for much less and with much greater flexibility.
Let me repeat-- Don't buy a timeshare!
Pros and cons
One of the major benefits of the product is the fact that vacation timeshare is real property. Resort developers purchase land in a location and develop a timeshare resort. They are actually selling consumers deeded weeks of real property at a specific location, meaning customers can do what they wish with the weeks they own. This flexibility includes the opportunity to rent out weeks that are not used or lend them to friends or family. A timeshare unit is real property, it does require constant maintenance. With each unit owned by many people, a competent management team is necessary for it to operate in an efficient and economically beneficial manner.
The problems discussed below notwithstanding, timeshare has the potential to provide a range of vacation experience in a variety of locations, for substantially less than an equivalent resort if rented on the open market. This is particularly the case with overseas travel where a convenient and economical location is sought, rather than a 'holiday' at a given resort. An often overlooked advantage is that timeshare units are usually 'self-catering' with a full or partial kitchen and have readily available laundry facilities. This frees the occupant from the necessity of eating at retail establishments and allows purchase of local products from markets, thus providing a more flexible and economical approach to the daily requirements of life.
To gain the most from a timeshare experience it pays to research any purchase thoroughly. Understand the precise nature of the particular timeshare contemplated, the management scheme and competence, the time of year or other conditions and the details associated with the available exchange mechanisms. The key is to be knowledgeable and flexible. Understand what the benefits and potential problems are, and how to use it to maximum advantage.
The timeshare industry has been widely criticized and even likened to a travel scam.[2] Unlike the customary renting arrangement, where the customer decides every year on the quality and price of accommodations, timeshare requires a major payment up front. Doubts exist as to whether timeshare buyers ever recover the money spent.
Many people complain that they cannot trade their weeks easily, or that the weeks they bought are suddenly "unavailable". There are also complaints that owners have to return to the same resort every year, but several companies exist that enable timeshare owners to exchange their weeks into literally thousands of resorts around the world. However, using these companies increases the overall financial cost of owning a timeshare. There are a growing number of independent timeshare exchange organizations available to timeshare owners. One of the biggest issues for exchange is that it depends on another owner to deposit a desired week, which may not happen. Another issue is some exchange systems have hidden rules and the deposit unit may not be strong enough to allow the owners to get the vacation they want. Also, some owners can not make a decision on when to vacation or where to vacation until the last minute, which often results in a bad exchange or no exchange at all.
Other complaints involve issues surrounding the yearly maintenance fee. Some critics talk of ever escalating fees that owners cannot afford, and the resulting financial pressure prohibits them from keeping their weeks. In the worst cases, there are maintenance fees, homeowners' fees, rental fees, fees for trading weeks, property taxes (depending on location), and an assortment of hidden fees that buyers were not aware of when they first bought their timeshares. In addition, if a resort suffers as a a result of a natural disaster, it may need some special assessments to recover it.
As real estate, timeshare requires the owner to take an interest in their resort's operation and, unfortunately, most owners are not prepared to do so since they see the purchase as just a vacation unit.[citation needed] Also, when owners first purchase the timeshare, they have little knowledge of the local renting market and local season, and end up getting a time slot they can not use. When they then try to rent it out, they find that there is no chance to rent or the rent income is not able to cover their maintenance fee.[citation needed]
People interested in purchasing a timeshare are strongly advised to look online at the secondary market listings for the development they are interested in. Developers put a very large mark-up on new inventory and a new owner will find the resale value of their timeshare to be half or less of what they purchased it for. In the very worst of cases, timeshare resales are virtually impossible and users are stuck paying fees indefinitely. This is what is commonly known as the "timeshare trap,[citation needed]" Sometimes, when it happens, owners can talk to the resort and the resort may be willing to take it back if there is no loan attached to it and the maintenance fee has been paid. Sometimes, there are various charity groups that are willing to accept a timeshare if no loan is attached and the maintenance fee is current. With the development of the internet, there are a lot of sites that charge little or no fees to let owners put "for sale ads" that will reach a larger market over the internet. However, it is usually hard to evaluate the value of a timeshare, thus it may take a while to sell or to get a reasonable price.[citation needed] If the unit belongs to a big chain, there is a better chance that enough people know the product and desire to add more vacation time from that product, and will thus increase your chances to sell. There are also sites that let owners put their share up for auction, and within weeks it will be taken if the ad is successful[citation needed]. Some of the resorts have resale programs that will take a cut of the final price. If owners are not very comfortable about reselling by themselves, there are real estate companies that can do that for the owner, although some charge a hefty up-front costs. Usually, if there is no sale, an owner will have a difficult time trying to get the money back.
There are also a lot of timeshare user groups that form different forums. If one happens to have an interest in purchasing a timeshare, one may want to check various internet communities like Yahoo, AOL, Google. If the owned unit is part of a major point system, those groups also provide a place to rent out your points or rent more points from other owners.
Like any other product, timeshare exchange is subject to the law of supply. This should make the exchange mechanism a fair and meritocratic system. For example if a timeshare owner deposits a studio apartment in low season that owner is unlikely to be able to exchange into a villa during a country's high season. In practice the major exchange companies have proprietary exchange formulas that add complexity to the system. The study of and issues revolving around exchanging are beyond the scope of this article and should be researched before making any timeshare purchase.
One aspect that is little known outside of the travel industry is that timeshare companies generally have very generous compensation programs for those sales agents able to convince individuals to take a tour of their timeshare facilities (something that normally takes approximately 90 minutes).[citation needed] With this in mind, a crafty individual can bargain for incredible vacation deals with a sales agent if they are willing to spare a bit of time. At one time, timeshares were known for applying considerable pressure to these touring individuals to purchase (even prompting a South Park episode called Asspen parodying the process), though that is generally supposed to have been lessened after a backlash by customers. The movie Once Around provided a look at the "inside" of a timeshare company. Each timeshare has its own rules for who it is willing to allow to tour, and most only allow one tour per year, though this does not prevent multiple tours from different resorts. An entire industry has sprung up based around this concept, negating the need for the frugal individual to do his own bargaining.
Several people have discussed what should be the motives for purchasing a timeshare.[3] It is important to review them based on the facts and avoiding to be trapped with false expectations.
Buying a timeshare can sometimes end up in a scam. Other times, some agreements will not be realized.
Most buyers come with high hopes with the units they are buying. Some did not even saw the real place, they just saw it through presentations or pictures. And much of the disappointment comes when their expectations were not realized.
How does technological environment impact a small business?
The technological environment consists of those forces that affect the technology and which can create new products, new markets, and new marketing opportunities.
What does it cost to rent space in a food court for a franchise?
well I found an article that does obliquely answer this, (I dont know if the author has any authority on the subject) but he placed it around 450,000 for a space and that sounds about right to me. Heres tha article so you can check up on it if you wish. http://findarticles.com/p/articles/mi_m3190/is_51_38/ai_n8592291 The exact quote is "As Erickson explained, a tenant who invests perhaps $450,000 in a food court space but then doesn't generate enough revenue is tempted to look for "creative" ways to compensate..." This is in the 11th paragraph. Hope it helped, I can't seem to find any other information to back the author up or have an opposite answer.
What are the factors to be considered when engaging in franchising?
If you are thinking about buying a Franchise, you first have to ask yourself what are you truly passionate in? What kind of Franchise do you envision on owning? Would you rather own a McDonald's Franchise, a KFC Franchise, or an affordable food Franchise such as In&Out Burger, Brewster´s Chicken, Buck's Pizza has also enjoyed significant success?
There are hundreds of great Franchises in the food industry. Coffee and beverages, sub sandwich shops, Ice cream shops, Full service restaurants, wings,salads, sushi all have franchise opportunities, and that's where research comes at hand.
One of the first things you should do is to request more information from all of the prospective Franchises that you are interested in by filling out a short form, which can either be done through the official website of the Franchise, or through Franchise portals.
Franchise portals allows you the ease of requesting more information from all chosen Franchises at one time.
The use of Franchise Portals are always free, so never fall for any scheme that claim to sell you Franchise information for a "Fee".
Due diligence is important when buying any business. A Franchise is certainly no different. It is also optionally vital to talk to Franchisee's currently operating in the Franchise you'd like to own which can allow you to get more candid answers than those provided by Franchisor's.
non sufficient funds not enough money to cover the posted check when presented to cashing agent
