Initially, franchise is a statutory right or privilege granted to a person or group by a government (especially the rights of citizenship and the right to vote).
But in business, franchise is an authorization to sell a company's goods or services in a particular place, include trademark, generally for an initial fee and a yearly payment.
Franchisor give franchisee a business arrangement include knowledge, expertise and a trade mark.
The early franchise businesses only give right to use trade name. Franchisor give the right to small companies to market famous branded products. It called trade name franchise.
Next progress, franchise not only trade name franchise, but Business Format Franchise. The Business Format Franchise moves a step beyond the trade name franchise. The Business Format Franchise not only lends its name to the smaller enterprise but it also provides the franchisee with an entire system of doing business. Franchise offer (1) branded marketable product (2) operation manual (3) training for worker (4) materials.
Franchise is suit for businessman who hasn't marketable recipt or products.
But in business, franchise is an authorization to sell a company's goods or services in a particular place, include trademark, generally for an initial fee and a yearly payment.
Franchisor give franchisee a business arrangement include knowledge, expertise and a trade mark.
The early franchise businesses only give right to use trade name. Franchisor give the right to small companies to market famous branded products. It called trade name franchise.
Next progress, franchise not only trade name franchise, but Business Format Franchise. The Business Format Franchise moves a step beyond the trade name franchise. The Business Format Franchise not only lends its name to the smaller enterprise but it also provides the franchisee with an entire system of doing business. Franchise offer (1) branded marketable product (2) operation manual (3) training for worker (4) materials.
Franchise is suit for businessman who hasn't marketable recipt or products.
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