What Is A Franchise?
What Is a Franchise?
Franchising is a form of business in which the owner, or franchiser, gives license to distribute products, services or methods of business to affiliated dealers, franchisees. In many cases franchisees are given exclusive access to a particular geographical area. The franchiser usually mandates uniform symbols, trademarks and standardized services.
Thirty years ago franchising was a revolutionary new technology - a new and better way - a new and better way to retail goods, food products and services to the consumers. How was it greeted? The media called it a scam. Headlines were everywhere about how some little old lady lost her life savings to some flim flam franchise. Major fortune 500 companies were getting involved in franchising but these companies insisted that their names not be used in ads or magazine stories.
Today franchising has turned into an $800 billion a year business. Experts estimate that today as much as one third of the goods and......
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