franchiseing

  • Created by: joegreer
  • Created on: 08-05-19 14:17
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  • franchising
    • using a busniesses name brand or logo
      • franchisee the person who is paying for the franchise franchor the one with the brand or logo
        • In its most simple definition, a franchise is a business opportunity that allows thefranchisee (possibly you) to start your business by legally using someone else's (the franchisor's) expertise, ideas, and processes
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          • they still sell the same product or service as the main busniess
          • the franchisor gets payed by the franchisee but still get royaltys from the franchisee
              • the money is still pretty good. A franchise owner usually gets around $66,000 per year at a mcdonalds
                • companys like starbucks cannot be franchised as they are all run by the world headquarters you can still own one under licence
              • A franchise owner buys a business that is part of a chain of companies with the same name and the same or similar products or services. It may be an independently-owned franchise or one that is co-owned by the franchise ownerand the umbrella companyj
                • franchies are usally a chain of busniesses
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