Today, in the business world, franchising is fast becoming the most popular way to start up or expand a business.
Franchising is a continued relationship with a franchisor who provides a licensed privilege to the franchisee to do business and offers assistance in organizing , training, merchandising, marketing and managing in return for a monetary consideration.
To put this in a simpler form, franchising is obtaining license from established brands in order to benefit from the goodwill of these brands and in return, pay royalties to these brands.
So you may ask. Why francishing?
Well, if buying an existing business is not good for you and starting a business from the scratch sounds intimidating then franchising might be next best option.
So basically the franchisee pays an initial fee and an ongoing royalties to the franchisor in return he gains the trade mark, system of doing business, etc. The advantage here is you get a proven system of operation and training on how to use it.
Most franchsors conduct research before selling a new outlet or license so you'll feel greater confidence that there is a demand for your product or service .
Finally, there is the advantage of numbers. The franchisee enjoys the strength and support of the franchisor so there a much higher chance of succeeding.
So when deciding on how to start or expand your business, you might want to consider franchising.
Source: https://www.entrepreneur.com/encyclopedia/franchising
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.entrepreneur.com/encyclopedia/franchising
Fixed my mistake. Thanks
You need to have original content in every post, not just the source links. Strive for 50% original thoughts and 50% quotes if you're using them.
!cheetah ban
I tried to help you bro and so did the Steemcleaners and you're not responding. Stop copy pasting.
Okay, I have banned @molokwu.
But I've been including the source ever since. What do I do now?
You need to include original content not from the internet aside from just the source. Too bad you didn't reply earlier. Now what you need to do is post an apology to the community for copy paste and make original content posts. After 7 days Cheetah will stop commenting.
Will do that immediately. I had no idea I was still in the wrong
Here the link to the apology post apologypost. Please lift the ban. You can hold me by my word. If copy/paste again, even for once, ban my account forever. I'm begging