A Franchise – Your own business, but include support and guidance.
Many people dream of running their own business and of giving up the day job. Most of these ambitious individuals only have the most basic of skills needed, and recognize that their business would not stand a great chance of success.
A Franchise is the answer for many of these would-be entrepreneurs.
A Franchise works by the franchiser selling a business plan to the franchisee. The fee paid may include marketing, a site, a website and vehicles in company livery. The most important thing the franchiser provides is training in implementing the business plan.
Franchise businesses have a much greater chance of success because the franchisee has training, guidance and supervision in the early stages. This support is expensive and the franchisee may have to pay a percentage of turnover or profits to the franchiser.
Many high street businesses are run on a franchising business model including McDonalds and many other fast food and coffee businesses. Other favorites are cleaning businesses and vending machine businesses.
A franchise has disadvantages, too. You have to...