Franchising Overview
 |
Free Download - Preferred Lender Programs By Start Your Business |
Franchising Overview
Buying a Franchise
An important step in the small business startup process is deciding whether or not to go into business at all. Each year, thousands of potential entrepreneurs are faced with this difficult decision; because of the risk and work involved in starting a new business, many new entrepreneurs choose franchising as an alternative to starting a new, independent business from scratch.
One of the biggest mistakes you can make is to hurry into business, so it's important to understand your reasons for going into business, and determine if owning a business is right for you.
If you are concerned about the risk involved in a new independent business venture, then franchising may be the best business option for you. But remember that hard work, dedication, and sacrifice are essential to the success of any business venture, including franchising.
What is Franchising?
A franchise is a legal and commercial relationship between the owner of a trademark, service mark, trade name, or advertising symbol and an individual or group wishing to use that identification in a business. The franchise governs the method of conducting business between the two parties. Generally, a franchisee sells goods or services supplied by the franchiser or that meet the franchiser's quality standards.
Franchising is based on mutual trust between the franchiser and franchisee. The franchiser provides the business expertise (marketing plans, management guidance, financing assistance, site location, training, etc.) that otherwise would not be available to the franchisee. The franchisee brings the
entrepreneurial spirit and drive necessary to make the franchise a success.
There are primarily two forms of franchising:
* Product/trade name franchising and
* Business format franchising.
In the simplest form, a franchiser owns the right to the name or trademark and sells that right to a franchisee. This is known as product/trade name franchising. The more complex form, business format franchising, involves a broader ongoing relationship between the two parties. Business format franchises often provide a full range of services, including site selection, training, product supply, marketing plans, and even assistance in obtaining financing.
Franchising Overview - To learn more about this author, visit Start Your Business's Website.
Like this article? Share it with your friends
| Article Tags: |
 | |
 |
Great content on this site for both the neophyte and pro marketer!
Commented on Franchising Overview. |
| |
Leave Your Feedback |
 | |
| |||
|
To learn more about the Evan Elite Author Program please contact us. |
 | |
|  |
Subscribe to Start Your's articles
 | |
|
|  |
 | |
|
| |
 | ||||||
|
 | ||
 |
||
 |
||
 |
||
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Put Yourself Into the Top 3% 3 Networking Skills Internet Marketing Campaigns Visual Pipeline Risk Management |
|
 | ||
 |
Top 50 SEO Posts - 2007
Top SEO Posts of the Year | |
|
Top 50 SEO Posts - 2008
Top SEO Posts of the Year | |
| ||
 | ||||
| ||||
|
 | ||||
| ||||
|
|
 | ||||
| ||||
|
 | ||||
| ||||
|
|
|
||||||||||||
 |
|
|
|
