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Franchising –
The toughest part of business is to gain customer acceptance and trust for your product.
Franchising is an start-up strategy that minimises this uncertainty from business venture.
Franchising strategy is adopted by well established and visible brands.Franchising is a special form of licensing which allows the franchisee to sell a highly publicized product or service using the franchiser’s brand name or trademark, carefully developed procedures and marketing strategies. The franchise is operated by the franchisee, who must adhere to the strict policies of the franchising company. Like in case of licensing, in this case too, the franchisee pays a fee to the franchiser, normally as percentage of sales. McDonald outlets are all franchisee outlets. Actually most of the food chain companies’outlets are franchisee outlets.The entrepreneur is trained in conduct of business and supported in marketing by the franchiser besides using a name that has some established image and some ready customers.
Four Characteristics of Franchising –
(a) A contractual relationship in which franchise licenses the franchisee to carry out business under the name owned by or associated with franchiser
(b) Controlled by the franchiser over the way in which franchisee carries out the business
(c) Assistance to the franchisee by the franchiser in running the business prior to commitment and through out the contract period
(d) Franchisee’s business is a separate entity from that of the franchiser. The franchisee provides and seeks capital in the venture
A franchise is the agreement or license between two independent parties which gives a person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchiser) using the operating methods of the franchiser. The franchisee is obliged to pay the franchiser fees for these rights. While the franchiser is obliged to provide rights and support to franchisees
A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee. Some of the most popular franchises in the United States include Subway, McDonalds, and7-Eleven.
franchise is a right given by a government or an organization to a group of persons within a profit
Franchise is an agreement between two legally independent parties which gives a person (the franchisee) the right to market a product/service using the trademark and trade name of another company (the franchisor).
A franchise is the granting of a license by one person (the franchisor) to another (the franchisee), which entitles the franchisee to trade as their own business under the brand of the franchisor, following a proven business model.Mcdonalds is probably one of the best examples of a franchisor / franchisee business deal.
A franchise business is a business in which the owners, or franchisers, sell the rights to their business logo and model to third parties, called franchisees.
best answers by all.............. AGREED
Thanks for invitation
Selling brand name is franchise.
Companies can sell it's full or partial name, give right to use it's name officially, or even can sell name of certain products. The name will still belong to the original owner, however the buyer will share some specific liabilities.
Brand names are considered 'process assets' of owner and considered it's legal property under copyright act.
This is what I know about it.
