How to Understand the Advantages of Franchising

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How to Understand the Advantages of Franchising – This is a place for the community to provide tips and advice on How to Understand the Advantages of Franchising. This topic was created by Jude Meyer and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - Pros and Cons of Franchising

Published: 9 years, 3 month(s) ago | Submitted by GUY ROBERTSON | permalink

The facts of franchising from the British Franchise Association: what are the advantages and disadvantages.
Tags: Franchise, franchising, franchises, facts, advantages, disadvantages, bfa

For further reading: http://www.thebfa.org/join-a-franchise/advantages-and-disadvantages-of-franchising ^[1]

Tip 2 - The Pros and Cons of Franchising Your Business

Published: 9 years, 3 month(s) ago | Submitted by Kathy Thrumston | permalink

Franchising could be your next big strategy for expansion or it could send your growing business down the wrong path. Here are some key considerations before deciding if franchising is for you.
Tags: Franchise,Franchises,Starting a Franchise Business,Franchise Business

For further reading: http://www.entrepreneur.com/article/226489 ^[2]

Tip 3 - The Benefits of the Franchise Model

Published: 9 years, 3 month(s) ago | Submitted by Stanley Zurita | permalink

Franchising provides benefits for both seller and buyer. For franchisors, the primary benefit is the ability to use other people's money to expand the brand more rapidly than they could either on their own or through investors or lenders. The initial franchise fee and ongoing royalties they collect allow franchisors to build their brand without sacrificing control to outsiders or the pressure of repaying lenders. The fees and royalties are used to fund operations at corporate headquarters, train and support franchisees, market and advertise the brand, improve the quality of goods or services, and build the brand in the marketplace. For franchisees, benefits include: a higher chance of success than in a sole proprietorship; shorter time to opening; initial training and ongoing support; assistance in finding an optimal site; the selling power of a known brand; lower costs through group purchasing; use of an established business model; national and regional advertising campaigns; customer lead generation through websites and centralized call centers; and a network of peers (fellow franchisees) to provide advice and moral support through a company intranet, annual conferences, and franchisee associations; and, increasingly, assistance with securing funding.
Tags: how-to guide, franchise, franchise model, benefits of franchising, how-to franchise, franchise guide

For further reading: http://www.franchising.com/howtofranchiseguide/benefits_of_the_franchise_model.html ^[3]