Chapter 5

Considering a Franchise


Bullet Defining a franchise and the roles of franchisor and franchisee

Bullet Connecting brands to franchising

Bullet Getting to know the three types of franchises

Bullet Exploring different kinds of franchise relationships

Bullet 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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