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Have
you always wondered how to franchise and how to buy a franchise?
This web page can provide you with information on new franchise
opportunities, when to use a franchise attorney, and where
to go for a franchise convention.
What is a franchise?
It is a business contract in which
an independent business (the franchisee)
sells or markets the products and/or services of a larger firm (the
franchisor). The franchisee receives training and marketing support
from the franchisor and pays a fee for ongoing support.
What
are the benefits and responsibilities of Franchise Ownership?
Many
people dream of owning their own business or becoming entrepreneurs. By becoming a franchise owner, you can often
sell goods and services that already have instant name recognition. You can obtain training and ongoing support
to help your venture succeed. But you should be cautious. Like any
investment, there is no guarantee you will succeed.
Some
forms of ongoing support you can usually expect from the franchisor are: finding a location,
initial training, an operating manual, advice on management, marketing
and personnel. Some franchisors provide monthly newsletters, a toll free telephone
number for technical assistance, and periodic workshops and seminars.
Some
of the costs involved might be:
- The initial franchise fee
- Operating licenses and insurance
- A possible 'grand opening' fee
- Continuing royalty payments
- Advertising and marketing fees
Franchisors can control how you as a franchisee
can conduct business. Some typical controls are:
- Site approval
- Design or appearance standards
- Restrictions on goods and services offered for sale
- Restrictions on method of operation
- Restrictions of sales area or territory
There are various franchise conventions that are worth attending. Some great sources to find out when and where franchise conventions are occurring, as well as information on franchising in general are:
Business Services Links
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Franchise
Franchise convention, new franchise opportunities, franchise attorney, buy a franchise, how to franchise
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