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Franchising
Franchising
 Ongoing support is one of the main reasons why
aspiring entrepreneurs choose to purchase a franchise
rather than start a business from scratch.
 Franchises have a higher success rate than start-ups.
 To be a successful franchisee, you must have the
knowledge, skills, drive, competitiveness, and attitude
to make it work.
Franchising
 When operating a franchise, you have to take the same
hands-on approach as if you were building a business
from the ground up.
 A franchise is a contractual arrangement in which the
owner of a business concept (the franchisor) gives a
businessperson (the franchisee) the right to own and
operate a business based on that concept.
 All franchises fall into one of three categories.
Franchising
 No matter which type of franchise you choose to
purchase, you will experience several advantages and
disadvantages.
 One of the advantages to buying a franchise is
networking.
 One of the disadvantages of buying a franchise is loss
of control.
 One of the factors to consider when evaluating
franchise opportunities is creditworthiness.

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Ls 301 wk 7

  • 2. Franchising  Ongoing support is one of the main reasons why aspiring entrepreneurs choose to purchase a franchise rather than start a business from scratch.  Franchises have a higher success rate than start-ups.  To be a successful franchisee, you must have the knowledge, skills, drive, competitiveness, and attitude to make it work.
  • 3. Franchising  When operating a franchise, you have to take the same hands-on approach as if you were building a business from the ground up.  A franchise is a contractual arrangement in which the owner of a business concept (the franchisor) gives a businessperson (the franchisee) the right to own and operate a business based on that concept.  All franchises fall into one of three categories.
  • 4. Franchising  No matter which type of franchise you choose to purchase, you will experience several advantages and disadvantages.  One of the advantages to buying a franchise is networking.  One of the disadvantages of buying a franchise is loss of control.  One of the factors to consider when evaluating franchise opportunities is creditworthiness.