What is a Franchise?
A franchise can be a good opportunity for people who want to own a business without the need to build a brand. Choosing to open a franchise requires a start-up cost to be paid. After the business gets started, the franchisee or the person buying the franchise pays a fee monthly to the franchisor or the owner of the company. This fee is generally a percentage of the monthly sales.
Benefits of Owning a Franchise
An agreement is part of the process of buying a franchise. The franchisee must provide the same products or services. For example, buying a franchise that sells food requires that the same menu that the business is already known for must be sold. If the business sells tacos, the franchisee must sell tacos. They also must use the same advertisements. This is a beneficial agreement because the business is already established and known for selling …
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