Become A Franchisee - Empower Yourself There
are
opportunities
various that
franchising
come
up
regularly.
Wether you live in the USA, Brazil, India or any other part of the globe; the concept of franchising is opening up many avenues for new entrepreneurs.
However, there
are people who do not understand the franchise concept and hence lose out. It is important to truly understand the franchise definition getting in the details of why a franchise makes sense and the benefits of taking this approach to starting a business. Speaking in plain language, franchising is a model of business in which the franchisor (owner of the business) gives right to the franchisee to use licenses, trademarks and other business systems. In return, the franchisee is pays a fixed amount or a percentage of revenues in return for the opportunity to operate the business. Now, this can be beneficial to both the parties. Speaking from the point of view of the franchisor, this is an excellent business growth strategy. As an individual, it is sometimes difficult to expand the business and manage it efficiently. However, when a network of individuals is created to manage the business in various locations, the business expansion becomes exponential. Moreover, all these individuals work as owners and hence their level of dedication is higher. On the other hand, the franchisee has some definite benefits on offer as well. S / he doesn’t have to take the risk of starting up something afresh. Alongside, s / he also gets the opportunity of working with a reputed brand. This brings two major benefits. The first is that one doesn’t have to spend on the branding of the business as it is already known. On the other hand, an association with a reputed brand also adds value to the resume of the individual. In other words, franchising is a business concept which can come out to be a winwin situation for both parties and it should, hence, be explored more often with fewer apprehensions.