What can a successful businessman or businesswomen do to expand his business?
• Option 1 He can open new independent outlets. • Option 2 He can franchise his product or service, a very attractive proposition; he will then become a franchisor and offer franchises to suitable people he thinks will be successful, they are called franchise owners. From the Franchise owner’s viewpoint, is there a better chance of being profitable by buying a franchise or by running your own business as an independent operator? There is a greater chance of being successful as a franchise owner, because in a successful network, the Franchisor supports the Franchise owner. A good Franchisor will exercise sufficient control to make sure that the Franchise owner operates the outlet in the best possible way to promote and sell his brand; a brand that has proved successful and profitable in the past. The business owner decides to take the option 2 and franchise. He is then the Franchisor who licenses his trade name, the brand, and system, to another businessperson who becomes the Franchise
Related Questions
- What can a successful businessman or businesswomen do to expand his business?
- What traits do you think a successful Businessman should posess?
- What traits do you think a successful Businessman should posess?
- How Do You Build A Successful Business?
- How Do You Build A Successful Business?
- How Do You Buy A Cicis Pizza Franchise?
