Owning a franchise is a relatively new concept that has fast caught the imagination of the business community and it is major departure from the norm that until only recently meant that when thinking of going into business, one had to have the required business acumen, follow gut instincts as well as be aware of market trends. Thus, today franchises have sprouted all over the world and they have proved to be a money spinner for the vast majority of franchisees that have opted for such course of action. In its essence, franchises are really copies of a parent company’s business in which the franchisee owns the business and needs to hire staff as well as look after the running of the business from day to day. The franchisee has high stakes in making the business prosper since he has invested his own money and time
The best thing about entering into a franchise arrangement with a parent company is that the business concept has already been well established and success has already been tasted, which is why you want to become a franchisee. Owning a franchise also gives you the right to market the parent company’s trademark and brand name and this is very...
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