Franchising


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Franchising

Provision of a specialized sales or service strategy, support assistance, and possibly an initial investment in the franchise in exchange for periodic fees.

Franchise

An agreement in which an entrepreneur buys a license to use another business' products, brand, proprietary knowledge, and trade secrets. This allows the entrepreneur to start a business without building up his/her own brand or products. This is a common way to start a business, especially in highly competitive industries. An industry that utilizes franchises on a regular basis is fast food; because of stiff competition, it is generally more profitable for one who wishes to start a fast food restaurant to buy a franchise.
References in periodicals archive ?
In other words, franchising has not only shown itself to be a catalyst in growing businesses but also a creator of legacies.'
* A two-day Certified Franchise Executive (CFE) Program to help professionalize the Philippine franchise sector and help sustain efforts in raising the global competitiveness of Philippine franchising. (March 25 to 26).
In franchising, both franchisors and franchisees are to recognize that the advancement of the franchise system is a joint obligation.
Protect, promote and enhance franchising. Meet in our nation's capital for a gathering of IFA members to network with your members of Congress during IFA's most important advocacy event.
Visitors to the conference will have an opportunity to listen and learn from experienced, world-class speakers and network with franchise experts, all focused on inspiring SMEs to adopt the franchising model of business.
Another tack taken by large companies is forming a subsidiary to house its franchising operations.
The California Franchise Investment Law was followed by the passage of franchise laws in several states and the promulgation by the Federal Trade Commission (FTC) of its Rule on Franchising in 1979.
Franchising has achieved remarkable success in Pakistan's telecom industry as well while local brands are making their mark and expanding considerably through franchising.
As a bank, we have realised the economic role played by franchising industry.
According to the data of 2009, 7.88 million employees have been working in franchising sector in USA, generating 1280 billion Euros per year.
One of the reasons that many franchises have been so successful is that, in franchising, a business synergy is created.
As one of the few sectors to hold its own over the past year - with 90 percent of franchises reporting profitable trading in 2008 as in 2007 - franchising continues to be the most successful way to start-up a new business.