Franchising Without Fear
What is Franchising?
According to the International Franchise Association (IFA),
- A franchisor is a person or company that grants the rights to others to do business using their business processes, brand, and trademarks.
- A franchisee is an individual or group who buys the rights to use the franchisor’s trademarks, brand name, and systems.
Equally important is to have a good understanding of the definition of a franchise, in addition to, the impact franchising has on the economy.
According to the Business Dictionary, a franchise is:
The arrangement where one party (the franchisor) grants another party (the franchisee) the right to use its trademark or trade name as well as specific business systems and processes, to produce and market a good or service according to individual specifications.
Franchising as a business model has been around a lot longer than people realize. The growth of franchising has been driven over the years by three main factors: 1) The desire to expand territories and control the expansion, 2) limits on capital, and 3) the need to overcome long distances. To learn more about the fascinating world of franchising, its history, pros and cons, and myths — purchase your copy of “Franchising Without Fear, Six Steps to Successfully Buying Your Own Business” by Trish Benedik. Available on Amazon in hardcover, paperback, Kindle, and Audible.
Contact Trish for more information and to assist you in your search for the perfect franchise fit
Follow my Blog for more insights into fantastic franchise options. Owning a business is about matching your skills with the right business that meets your personal and professional goals. My 6-step process will guide you to the right business and get you introduced to opportunities that work for you.
What are you waiting for?
Trish Benedik owner of Select Franchise Consulting will help narrow your options and find the franchise that is the right fit for you saving you time and frustration. Our consultation will help you make an informed decision. There are thousands of options in franchising, find the one that is a good fit for your business and lifestyle goals.
Disclosure: Select Franchise Consulting/Trish Benedik/T A Benedik, LLC does not guarantee the financial performance of any franchise, licensed affiliate, or business opportunity. The decision to purchase a franchise, licensed affiliate, or business opportunity must be based on the buyer’s independent research and analysis. Select Franchise Consulting/Trish Benedik/T A Benedik LLC is not liable for any representation made by a franchisor and/or a franchisors employee, affiliate, or associate with respect to real estate, financial, operations, or marketing performance of the business being acquired.
(International Franchise Association – IFA 2018)
(WebFinance, Inc. 2018)