3. Local franchisingas Small Business in Bangladesh
5. Franchising is a form of business by which the owner (franchisor) of a product, service or method obtains distribution through affiliated dealers (franchisees) Local franchisingLocal Franchise means expanding thebusiness in the new market by transferringtrademark and goodwill to franchisee insidelocal territory by charging fees.
6. • A good track record of profitability• Ease of duplication• Detailed systems, processes and procedures• A unique or unusual concept• Broad geographic appeal• Relative ease of operation• Relatively inexpensive operation.
7. Payments to the local franchisor: (a) A royalty for the trademark and (b) Reimbursement for the training and advisory services given to the franchisee
8. Local franchising agreement: 1. The rights of a franchisee 2. The obligation undertaken by the franchisor 3. The obligations imposed upon the franchisee 4. Trade restrictions 5. Assignment/death of the franchisee 6. Termination provisions
9. Types of local Franchising2forms of franchising:1. Product/trade name franchising2. Business format franchising.