How can one gain by having a franchisee and the numerous models?
Franchising represents a different approach to starting a business. For an upfront franchise fee plus ongoing royalty payments, the parent company teaches its business model methods to the franchised-operator who shoulders all operating and financial responsibilities of the outlet. Not only will a franchisee be working within a proven system but the instant brand awareness and credibility is another one of the major pros of buying a franchise business. Additionally, a network of support is available to franchisees. This includes technical and managerial support from individuals who are knowledgeable about your specific business as well as the benefit of shared marketing. According to the U.S. Dept. of commerce, Franchised starts have a mere 8% risk of failure compared to 85% for non-franchised start-ups, it is easy to understand Why Franchising is now becoming a welcome business strategy for economic growth in India There are three distinct models of franchising – Product Distribution
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- How can one gain by having a franchisee and the numerous models?
