A business system whereby many different owners of a smilar business use a single name, brand, and/or trademark. These independent franchisees pay a royalty fee to the franchisor to use the name.
To negotiate a franchise agreement, the potential franchisee needs to fully understand the terminology used in the franchising industry. Often, new franchisees misunderstand the terms ‘Franchise Fee’, ‘Royalty Fee’, ‘License’ and ‘Marketing Fee’. Once understood, […]
A franchise relationship is a partnership between two parties. The primary party is the Franchiser. This entity owns a master group of similar business selling/providing the same product or service. The Franchiser sells a ‘Right’ to […]