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A franchise is commercial relationship between the owner of a trademark service mark trade name or advertising symbol and an individual or group wishing to use that identification in a business sort of like McDonalds or Taco Bell The franchise governs the method of conducting business between the two parties Generally a franchisee sells goods or services supplied by the franchisor or that meet the franchisors quality standards Franchising is based on mutual trust between the franchisor and franchisee The franchisor provides the business expertise marketing plans management guidance financing assistance site location training etc that otherwise would not be available to the franchisee The franchisee brings to the franchise operation the entrepreneurial spirit and drive necessary to make the franchise a success Advantages would be that some franchises let you be your own boss at least to a point as apposed to working for an employer Franchises offer you the chance to go into business yourself even if you are lacking in money or business experience Get a head start Compared to normal start-up companies franchises provide a head start to the business owner by providing support on an as-needed basis In several time a lot of people Gain additional training and assistance Profit from name recognition One of the most difficult things to do when starting a business is to develop a recognizable presence with your customers This usually only happens over time Franchises eliminate this hurdle by developing an image in the marketplace This is important because it saves you both time and money Some Disadvantages would be that you must play by the rules If you are buying a franchise because you cant stand working for someone else you may want to think twice When you buy a franchise you are not free to do as you please In many cases franchisors require you to play by their rules Nothing is ever free Also to the initial franchise fee you will
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