Franchise

• franchise is agreement which allowes entrepreneurs to use the business ideas,name, model and reputation of an established business in return they have to pay a initial fee plus ongoing royalty payments which is usually a percentage of their profit or revenues
• Franchising allows the franchisor to grow quickly as more costs and risks are taken by the franchise
• franchising can be a easy way for a entrepreneur to start up a business as they are using a existing business model
• its Cheaper than starting off from scratch and they may get advice and support from the franchisor and customers msg already know the brand