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What Are The Fundamentals of Franchise Business?

What Are The Fundamentals of Franchise Business?

When thinking of franchising, many people first put their focus on the rules and regulations under law. From the core, franchising is all about the brand value of the franchisor, how the franchisee will meet the obligations for delivering the products and services, and how the franchisor is going to support the franchisees. 

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Franchising is about the liable relationship that the franchisee develops with the franchisor. In a research, it was found that almost ninety percent enjoy operating the business, eighty-eight percent of the franchisees enjoy being the part of a reputed organization, eighty-five percent feel very positive about the affiliation with the franchisor, eighty-three percent respect the franchisor, eighty percent feel that the franchisor shares a bond of high trust and honesty, and seventy-eight percent will recommend the franchise brand to the others.

Some of the common services provided by the franchisors to the franchisees are: –

  • A recognized business or brand name
  • Site development and site selection assistance
  • Training to the entire franchise team including the franchisees
  • Research and introduction of the new products
  • Field support
  • Initial and the ongoing marketing and advertising

One will obviously prefer to select the franchisor, which effectively and routinely enforces the business standards. This is important as it is meant to safeguard the franchisees from any bad act or loss during the business partnership. Since the customers consider the franchises as the branded chain of systems. Quality products delivered by any one of the franchisees of the brand will benefit the whole system.

Mary Mack