List and describe 3 major benefits of franchising pertaining to the franchisee

п»їList and describe 3 major features of franchising for the franchisee. 1 . The most valuable edge to a franchisee is that you are selling an established product or service. (Hatten 112) Using a product or service that customers are aware of, they know the name and they know what to anticipate, is essential for a franchisee. 2 . Franchising often gives the franchisee important pre-opening and on-going support. Such as marketing knowledge, financial assistance to professional guidance. Professional direction can be recurring supervision and management support, technical support, getting and gear support. (franchise. org)

3. Likelihood of business expansion is another advantage. If the franchisee is successful using their first site, they may have the opportunity to develop another store in another location.

List and describe 3 major cons to the franchisee when considering franchising. 1 . The price tag on the operation is a key disadvantage. However the franchise may provide pre-opening and on-going support, it could come by a price. Just about every franchisor will charge a business fee, the onetime payment to become a franchisee. Also a royals fee will probably be charged which is a specified percentage of revenue revenue. (Hatten 114) 2 . Restrictions upon freedom or perhaps creativity is another disadvantage. Many people start their particular business to acquire more freedom. When you decide to get a business, you have to uphold their plans and types of procedures, and you have to experience a franchisee contract. The operation agreement is definitely the legal contract that binds both parties active in the franchise. This contract talks about all the fees, and area you can follow to place your franchise. Constraints can also include which products or services which can be offered with rates. If an item is certainly not selling well in your store but good at another, you still have to have that item with your menu. three or more. Poor performance of different franchisees can result in problems for yourself....

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