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Franchising - Coggle Diagram
Franchising
ten myths of franchising
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I’ll use 80 percent of the franchiser’s business system, but I’ll improve upon by substituting my experience and know-how.
Anyone can be a satisfied, successful franchise owner.
The bigger the franchise organization, the more successful I’ll be.
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The franchiser will solve my business problems for me; after all, that’s why I pay an ongoing royalty fee.
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Once I open my franchise, I’ll be able to run things the way I want to.
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types of franchising
Product distribution: A franchisor licenses a franchisee to sell its products under the franchisor’s brand name and trademark through a selective, limited distribution network.
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Trade name: A franchisee purchases the right to use the franchisor’s trade name without distributing particular products exclusively under the franchisor’s name.
definition
A system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right