
74 Restaurant Franchising
the franchisor and the franchisees and their employees. Implementations of
standards require that they be reasonable, fl exible, and applicable to specifi c
operational areas.
Minimum Risk
There is no business without risk—risk being the potential for both suc-
cess and failure. Franchising reduces the risk of failure to a great extent. The
risks involved are substantially lower than when starting a business from
scratch. Because franchising, on the basis of research and expertise, leads to
the development of a system that has been proven profi table and workable,
there is minimum risk of failure. To be exact, franchising ...