•5 years
What is a franchise?
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Franchise is a ready-made business concept that can be made available to an individual for a specific amount. The most famous franchise brands include McDonald's, Alior Bank, Play, Żabka, and Lotos. To become a franchisee, one must meet the appropriate requirements and operate according to the established concept of cooperation. The franchise package consists of: 1. Trademark (™) 2. Franchisor support 3. Know-how 4. Operational manual A recognizable brand generates demand and attracts customers. People inherently buy what they see in the media. The franchisor provides support, which allows for faster company development. Know-how consists of confidential information that helps run the business, acquired through the franchisor's experience. The operational manual describes the principles and conditions of cooperation. Advantages of franchising: 1. You start running a business under a well-known brand, generating greater income thanks to its prestige and reputation. 2. Franchising offers a proven idea, experience, and know-how. 3. You participate in specialized sales and management training. 4. Throughout the business operation, you receive support from the franchisor. 5. You may receive financial assistance from the franchisor. 6. Franchising allows you to bypass market entry barriers. 7. Simply put, franchising involves lower business risks. Disadvantages of franchising: 1. As a franchisee, you must comply with predetermined standards. 2. Franchisees are subject to continuous controls by the franchisor, which may result in financial penalties for the company. 3. The franchisor sets sales plans that your compensation may depend on. 4. Franchisees must pay periodic fees and initial fees to start the business. 5. "One for all, all for one" - each franchisee is responsible for the image of the entire franchise network. If one person runs the business poorly, it affects the entire network. 6. All mistakes made by the franchisor can impact franchisees.
Franchise is a ready-made business concept that can be made available to an individual for a specific amount. The most famous franchise brands include McDonald's, Alior Bank, Play, Żabka, and Lotos. To become a franchisee, one must meet the appropriate requirements and operate according to the established concept of cooperation. The franchise package consists of: 1. Trademark (™) 2. Franchisor support 3. Know-how 4. Operational manual A recognizable brand generates demand and attracts customers. People inherently buy what they see in the media. The franchisor provides support, which allows for faster company development. Know-how consists of confidential information that helps run the business, acquired through the franchisor's experience. The operational manual describes the principles and conditions of cooperation. Advantages of franchising: 1. You start running a business under a well-known brand, generating greater income thanks to its prestige and reputation. 2. Franchising offers a proven idea, experience, and know-how. 3. You participate in specialized sales and management training. 4. Throughout the business operation, you receive support from the franchisor. 5. You may receive financial assistance from the franchisor. 6. Franchising allows you to bypass market entry barriers. 7. Simply put, franchising involves lower business risks. Disadvantages of franchising: 1. As a franchisee, you must comply with predetermined standards. 2. Franchisees are subject to continuous controls by the franchisor, which may result in financial penalties for the company. 3. The franchisor sets sales plans that your compensation may depend on. 4. Franchisees must pay periodic fees and initial fees to start the business. 5. "One for all, all for one" - each franchisee is responsible for the image of the entire franchise network. If one person runs the business poorly, it affects the entire network. 6. All mistakes made by the franchisor can impact franchisees.
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Franchise is an agreement between the owner of a brand or business idea and an independent partner who pays a fee for the right to use that brand or business idea. The partner (franchisee) is obligated to adhere to specific standards and procedures established by the brand owner (franchisor). This is a way to start your own business, using the experience and reputation of an existing brand.
Franchise is an agreement between the owner of a brand or business idea and an independent partner who pays a fee for the right to use that brand or business idea. The partner (franchisee) is obligated to adhere to specific standards and procedures established by the brand owner (franchisor). This is a way to start your own business, using the experience and reputation of an existing brand.
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