Have you ever thought about starting your own business?

Have you ever thought about starting your own business?

But not sure what kind of business to start with?
Have you ever looked at a franchise business?

What is a franchise?

Franchising is a long-term cooperative relationship between two entities—a franchisor and one or more franchisees—that is based on an agreement in which the franchisor provides a licensed privilege to the franchisee to do business. The franchisor grants the franchisee the right to use a developed concept, including trademarks and brand names, production, service and marketing methods and the entire business operation model, for a fee. The franchisee then provides the time, capital, and desire to utilize the brand and services provided by the franchisor to build a thriving business.

The product, method or service being marketed is usually identified by the franchisor’s brand name, and the holder of the privilege (franchisee) is often given exclusive access to a defined geographical area for a defined period of time, all of which is defined in the Franchise Agreement.

Franchise
A privilege or right officially granted to offer specific products or services under explicit guidelines at a certain location for a declared period of time.

Franchise Agreement
The legal document between the Franchisor and the Franchisee that governs the relationship between the two entities for a specified period of time. It frames the relationship in a concise manner.

Franchisee
A person or entity to whom the right to conduct a business is granted by the franchisor or licensor.

Franchisor
The company owning/controlling the rights to grant franchises to potential franchisees.

Want to know more about the possibilities of becoming a business partner? Apply below.

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