What Is a Franchise? Essay -- essays research papers

What Is a Franchise? Franchising is a form of business in which the owner, or franchiser, gives demonstrate to distribute products, services or methods of business to affiliated dealers, franchisees. In many cases franchisees ar given exclusive access to a particular geographical area. The franchiser unremarkably mandates uniform symbols, trademarks and standardized services. Thirty years ago franchising was a revolutionary late technology - a new and better way - a new and better way to retail goods, food products and services to the consumers. How was it greeted? The media called it a scam. Headlines were everywhere about how some little old lady lost her life nest egg to some flim flam franchise. Major fortune 500 companies were getting involved in franchising but these companies insisted that their names not be used in ads or powder store stories. Today franchising has turned into an $800 billion a year business. Experts estimate that today as much as one third of the good s and services in the U.S. are moved through franchising. Its hard to believe but franchising actually came within 11 votes of being outlawed by Congress of the United Sates of America. Essentially a franchise provides a tested formula for starting a business that has worked for others. It can save you from making costly errors, shorten your learning curve and uphold you make a profit more quickly. However, start-up costs are high and you are required to follow the companys specific procedures. The average f...