What is franchising
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Franchising is an agreement where a franchisor grants a franchisee the right to use its business model, trademarks and processes. It provides a continuing relationship where the franchisor offers support like training, merchandising and management assistance, in exchange for payment from the franchisee. There are several types of franchising based on the product or service being franchised. Franchising benefits both parties by allowing the franchisee to enter an established market using a proven system, while the franchisor expands its business. The key elements of any franchise agreement include the contractual relationship between the parties, licensing of rights and intellectual property, payment of royalties, and specification of the business location and duration.
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Global market entry strategies
This document discusses three global market entry strategies: franchising, foreign direct investment, and licensing. Franchising involves a contractual relationship where the franchisor offers business support and the franchisee makes a substantial investment. Foreign direct investment refers to establishing foreign subsidiaries or acquiring shares in foreign companies. Licensing involves granting permission to use intellectual property in exchange for fees or royalties.
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This document provides an introduction to franchising and its importance. It defines franchising as an arrangement where a franchisor licenses their business format, trademarks, and systems to franchisees in exchange for an initial fee and ongoing royalties. Franchising allows entrepreneurs to benefit from an established brand name, consistent quality, and extensive pre-opening and ongoing support from the franchisor. While franchisees trade some independence for these benefits, franchising has been shown to help existing businesses and franchisees improve their sales, profits, and performance compared to being independent operators.
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I am Tariq Bin Aziz, From Southeast University, Bangladesh. I made this presentation on E.coli. I think you will be benefited by my presentation. Thanks All.
International Business| Franchising| Franchise business| open franchise| fran...
The document discusses franchising in Pakistan. It defines a franchise as a business model where the owner licenses its operations, products, branding, and knowledge to franchisees in exchange for fees. The first franchise in Pakistan was established in 1993. There are now many franchise opportunities across over 70 industries, including fast food, retail, and services. Franchises offer benefits like established brands, support systems, and potential for business growth. The document outlines the roles of franchisors and franchisees and different types of franchise models. It provides tips for prospective franchisees, such as thorough research, legal advice, and understanding investment costs and contractual obligations.
Franchising
This document defines franchising as an arrangement where a franchisor grants a franchisee the right to use its trademark, trade name, business systems, and processes. Some key advantages of franchising include immediate name recognition, tried and tested products and business models, standardized operations, employee training, and reduced risk. However, franchising also means sharing profits with other franchisees and losing some independence. The franchise contract and transmission of know-how are important characteristics. Different types of franchising exist based on the rights granted, business sector, and level of knowledge transferred.
Franchising
This document defines franchising as an arrangement where a franchisor grants a franchisee the right to use its trademark, trade name, business systems, and processes. Some key advantages of franchising include immediate name recognition, tried and tested products and business models, standardized operations, employee training, and reduced risk. However, franchising also means sharing profits with other franchisees and losing some independence. The franchise contract and transmission of know-how are important characteristics. Different types of franchising exist based on the rights granted, business sector, and level of knowledge transferred.
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Franchising involves a franchisor transferring their business expertise and experience to a franchisee in exchange for an initial fee and ongoing royalties. The franchisor provides their trademark, know-how, and ongoing support while the franchisee pays royalties based on sales and uses the franchisor's system and brand name. This arrangement allows the franchisor to expand their business with less capital while benefitting from the franchisee's marketing and sales efforts to strengthen their brand presence in the market. However, franchisees trade some independence for integration into an established commercial network.
Franchising
Franchising involves a franchisor transferring their business expertise and experience to a franchisee in exchange for an initial fee and ongoing royalties. The franchisor provides their trademark, know-how, and ongoing support while the franchisee pays royalties based on sales and uses the franchisor's system and brand name. This allows the franchisor to expand their business with less capital while strengthening their brand presence, while the franchisee gains access to an established brand and business model. However, franchisees trade some independence for integration into a larger network and guaranteed brand recognition.
FranchisingManagementSession1 - Introduction to Franchising Management
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Franchising involves a franchisor licensing a franchisee to use their business model, brand, and systems. It has grown significantly since Singer Sewing Machines first used franchising in the mid-19th century. Franchising allows for rapid expansion, capital raising, and shared marketing while providing assistance to franchisees. The relationship is governed by a franchise agreement that specifies fees, territories, and obligations of both parties. It can benefit small businesses by leveraging a known brand but franchisees must balance franchisor restrictions with independent management abilities.Lect 4 sse
Franchising is a marketing system where a franchisee conducts business according to terms specified by a franchisor. The franchisor provides the franchisee the right to use their brand name, proprietary products and services, training to set up the business, and regular inspections. The advantages of franchising include a proven business model, lower failure rates due to training and support, and assistance with financing and site selection. However, franchisees must pay initial and ongoing fees and royalties, and their independence is limited by brand standards. Prospective franchisees should research the franchisor's reputation, termination policies, and support programs before buying in.
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This document discusses franchising. It defines key terms like franchisor, franchisee, and franchise agreement. It explains that franchising allows a brand, business method, and marketing system to be shared. The two main types of franchising are product distribution franchises and business format franchises. It lists advantages for both franchisees and franchisors, such as established brands and business expansion, but also disadvantages like lack of freedom and communication challenges.
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This document discusses opportunity identification, product selection, and conducting feasibility studies for new business ventures. It identifies key factors for opportunity identification like profits, growth, and market leadership. Methods for searching business ideas are outlined, including observing markets, studying development in other nations, and analyzing government organizations. Product selection considerations include supply-gap, availability of raw materials, profitability, and government policies. Feasibility studies assess market feasibility, technical feasibility, and financial feasibility of potential business ideas and products. Franchising is also summarized as a business model where an individual operates locations of an established larger company using its brand name and systems.
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This document provides an overview of franchising and social franchising. It discusses the growth of franchising in the United States and around the world. It then defines franchising and the key elements of the franchise relationship between the franchisor and franchisee. The document outlines the types of franchise agreements and considerations for both franchisors and franchisees in setting up or purchasing a franchise. Common misconceptions about franchising are also addressed.
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The document discusses how to successfully franchise a business. It outlines what franchising is, that it provides a proven business model and brand to franchisees. It describes the franchising industry, factors that make a business suitable for franchising, typical franchise revenue streams and stages of franchising a business. The document also discusses the costs of franchising, return on investment and alternative expansion models to franchising. It notes that now may be a good time to franchise as more people are looking to become franchisees.
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The powerpoint presentation aims to give a simple yet detailed description of how the franchise model of business works. What are the things to look out for or consider while starting a franchise business and which franchises have been relatively successful.
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Frantastic is the subsidiary of Four Feathers Management Solutions Ltd. We at Frantastic are into Franchise Consulting, Franchisee Acquisition and thus help to boost up the businesses through superior Business Ideas, Franchise Model Tailoring, and Franchise Promotions. We cater our services in PAN India through Creative Branding, Marketing Solutions, Events, Promotions, and Attractive Business Proposals.
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This document provides an overview of franchising, including the different types of franchising, advantages and challenges, what makes a good franchise business, factors to consider before buying a franchise, key components of a franchise agreement, and agencies that can provide help for franchise businesses. It discusses business format franchising and product franchising. Some advantages highlighted are high success rates due to proven systems, recognized brands, support from franchisors, easier financing, and potential for high profits. Challenges include loss of control, ongoing costs, and potential for unmet expectations.
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Licensing is another way to enter a foreign market with a limited degree of risk. Under international Licensing, a firm in one country permits a firm in another country to use its intellectual property( Patents, trade marks etc).
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What is franchising
- 1. FRANCHISING:- (Trends In Entrepreneurship) Group name:- RISK BEARERS Prepared by: Shreya Kaur Vidula Kakade Rini Ganguly MeerTauseef Ahmed Guided by: DR. Neerja Upadhya madam.
- 2. INTRODUCTION TO FRANCHISING Franchising is an agreement between two entities where the owner(Franchisor) of a company grants the right to the other party(Franchisee) to use its trade name or trademark and also specific business processes and techniques for producing and marketing goods and services. Definition of Franchising:- Franchising is a continuing relationship, in which the franchisor provides licensed privilege to do business, plus assistance in organisation training, merchandising and management in return for a consideration from the franchisee.
- 4. Features Of Franchising:- Well Established Business. Need limited investment. Easy entry in the new market. Business has large establishments. Facilities in diverting business risks. Results in large turnover. Division of labour and specialisation. Based on mutual agreement.
- 5. Types of Franchising Product franchise. Manufacturing franchise. Business-format franchise. 1. Manufacturer-Retailer franchise. 2. Wholesaler-Retailer franchise. 3. Service sponsor retailer franchise.
- 6. Importance of Franchising:- Proven Market for product or service. Advantages of Purchasing. Advantages of training. Advantages of Marketing & Management. Quality Control Standards.
- 7. Elements Of Franchsing:- Contractual Relationship. Licensor Licensee Rights Intangible property Payment(Royalties) Specified Geographic area Specified Period time
- 8. •For more information you can go to, Wikipedia.com Finlittv.com ANY QUERIES?
- 9. THANK YOU!!!