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Franchising A franchise is a type of business that is owned by individuals whilst being linked to and overseen by a much larger company. This company is called a franchisor which the brand's trademark and a business system. Many of the stores and restaurants that you see every day are franchises. The franchises function based on their franchisers' manuals. When the franchisee buys the rights to open a franchise, he is buying the rights to use a proven business plan, with proven prices, products, and marketing techniques. The franchisee gets full access to the company's trademarked materials. For the franchisee can use the same logos and slogans. On the the franchisee is required to pay licensing fees, marketing fees and initial staffing costs. While operating the franchisee is also required to pay royalty fees based on the income generated. All in all, it might worth owning a franchise with a(n) reputation for good products and services.

Franchising A franchise is a type of business that is owned by individuals whilst being linked to and overseen by a much larger company. This company is called a franchisor which the brand's trademark and a business system. Many of the stores and restaurants that you see every day are franchises. The franchises function based on their franchisers' manuals. When the franchisee buys the rights to open a franchise, he is buying the rights to use a proven business plan, with proven prices, products, and marketing techniques. The franchisee gets full access to the company's trademarked materials. For the franchisee can use the same logos and slogans. On the the franchisee is required to pay licensing fees, marketing fees and initial staffing costs. While operating the franchisee is also required to pay royalty fees based on the income generated. All in all, it might worth owning a franchise with a(n) reputation for good products and services.

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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instance contrast expanded technically acknowledged establishes detects contrary Franchising A franchise is a type of business that is owned by individuals whilst being linked to and overseen by a much larger company. This company is called a franchisor which the brand's trademark and a business system. Many of the stores and restaurants that you see every day are franchises. The franchises function based on their franchisers' manuals. When the franchisee buys the rights to open a franchise, he is buying the rights to use a proven business plan, with proven prices, products, and marketing techniques. The franchisee gets full access to the company's trademarked materials. For the franchisee can use the same logos and slogans. On the the franchisee is required to pay licensing fees, marketing fees and initial staffing costs. While operating , the franchisee is also required to pay royalty fees based on the income generated. All in all, it might worth owning a franchise with a(n) reputation for good products and services.
Transcribed Image Text:instance contrast expanded technically acknowledged establishes detects contrary Franchising A franchise is a type of business that is owned by individuals whilst being linked to and overseen by a much larger company. This company is called a franchisor which the brand's trademark and a business system. Many of the stores and restaurants that you see every day are franchises. The franchises function based on their franchisers' manuals. When the franchisee buys the rights to open a franchise, he is buying the rights to use a proven business plan, with proven prices, products, and marketing techniques. The franchisee gets full access to the company's trademarked materials. For the franchisee can use the same logos and slogans. On the the franchisee is required to pay licensing fees, marketing fees and initial staffing costs. While operating , the franchisee is also required to pay royalty fees based on the income generated. All in all, it might worth owning a franchise with a(n) reputation for good products and services.
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