The Characteristics of a Franchise

Save

Many small businesses in the United States are franchises. Franchises appear in many industries like real estate, fast food, hotels and retail. Some popular franchise brands include McDonald's, Marriott Hotels and Century 21.

Types

According to the International Franchise Association, there are two types of franchises. These are product distribution and the business format.

Features

Product distribution franchises get use of a franchisor's trademark and logo to sell products. Most franchises are business format, which provides products and methods to run the business.

Function

Franchisors offer financial, marketing, and training support to franchisees to help them grow their business in exchange for fees for using the franchisor’s trade name and business model.

Benefits

Franchises help a business owners be in business for themselves without starting a business from the ground up.

Considerations

Purchasing a franchise can be expensive, consider the pros and cons of franchise ownership before making a purchase.

Related Searches

References

Promoted By Zergnet

Comments

You May Also Like

Related Searches

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!