Franchises
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Last updated 7:45 AM on 5/26/25
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6 Terms
1
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Define a Franchise
its a business to business contract to license the use of a brand and its processes
2
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Define a Franchisor
the business providing the product or service
3
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Define a Franchisee
the independent business with the rights to use the business name and model to sell the franchisor’s goods or services
4
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Describe a Franchise
franchise agreement which is the legal contract between a franchisor and franchisee
franchise fees
proven business model
5
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Advantages of a Franchise
low start up risk
immediate brand recognition
support from franchisor
6
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Disadvantages of a Franchise
limited decision-making power
reduced profit margins
dependency on the franchisor
Note 
Flashcards (23)