Franchise business refers to a business, wherein the business owner authorizes other business entity to conduct business on behalf of the main business entity. The business entity which passes on the rights is called franchiser and the entity which received the business rights is called franchisee.
Advantages of buying a franchise
- Franchises offer the independence of small business ownership supported by the benefits of a big business network.
- You don't necessarily need business experience to run a franchise. Franchisers usually provide the training you need to operate their business model.
- Franchises have a higher rate of success than start-up businesses.
- You may find it easier to secure finance for a franchise. It may cost less to buy a franchise than start your own business of the same type.
- Franchises often have an established reputation and image, proven management and work practices, access to national advertising and ongoing support.
In seeking a franchise business opportunity, there are various considerations as regards evaluating a franchise business company. Truly speaking a franchise business company plays a very important role in the over all success of any franchise business. A company that which has got good track record, a long standing in the business & a fairly good network could be a good start for any start up business.