Chapter 5
Considering a Franchise
IN THIS CHAPTER
Defining a franchise and the roles of franchisor and franchisee
Connecting brands to franchising
Getting to know the three types of franchises
Exploring different kinds of franchise relationships
Checking out the pros and cons of franchising
Three constants have fueled the growth of franchising over its long history: the desire to expand, the limitations on human and financial capital, and the need to overcome distance. Although you may think of franchising mostly in the context of your neighborhood fast food outlets, franchising has transformed how people purchase products and services today. More than 120 distinct industries use franchising today, and because of that it is nearly impossible to drive down any major street in the world and not pass by some business that is part of a franchise network. This chapter begins your exploration of franchising, not by looking at any particular franchise but by giving you some of the basics ...
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