Sometimes it is better to start at the beginning. Let's talk about the definition of a franchise, and go from there.......
The franchise business is a licensing system by which the owner {franchisor} of a product or a service licenses others {franchisees} to market and sell the product or service
within a defined territory, following the guidelines established by the
franchisor.
Advantages:
1. Systems already in place to help you get started rapidly
2. You will participate in formal training programs
3. Name recognition/branding
4. Group purchasing power
5. Network of others to learn from that are in the same business
Please comment if you wish, and add some other advantages!
Disadvantages:
1. You do not have total control
2. You must follow all guidelines and rules
3. Ongoing royalties must be paid to franchise company
4. Can only sell or market their products and services
Please comment if you wish, and add some other disadvantages!
