What are some advantages of franchising for the franchisor?
Greater presence (rapid)
What are some advantages of franchising for the franchisee?
Good relationship with supplier
Knowledge from other franchisees
What are some disadvantages of franchising for the franshisor?
Cost of training
They might not follow the rules
What are some disadvantages of franchising for the franchisee?
Start up fees
Must get equipment from franchisor
Advertising might not be good for you
Exaggeration of financial success
How do you become a franchisor?
1. Establish a prototype
2. Prepare necessary information
3. Investigate legal requirements
4. Develop a planned and standardized program of operations
5. Obtain adequate financing