A franchisee is an individual who purchases the rights to use a companys trademarked name and business model to do business. The franchisee purchases a franchise from the franchisor. The franchisee must follow certain rules and guidelines already establ
May 18th, 2012
Franchisee
According to the U.S. Small Business Administration, franchising is the fastest-growing kind of small business. Furthermore, each new franchise generates eight to fourteen new jobs and a new franchise opens an average of every eight minutes per business day. Overall, franchises create over 300,000 new jobs per year. The franchise model is seen as a great way to open a new door in the current economy, and to provide people with at least a chance of success, that perhaps they have not had before.
Franchising has opened the door of opportunity for women, families, and minorities. Women have discovered that operating franchises often allows them to spend more time with their families. Women wholly own about 10 percent and jointly own about 30 percent of U.S. franchise outlets, according to the Small Business Administration. In many cases, families pool their resources and time to operate outletsand often use the profits to create their own mini-chain of stores. Minorities have benefited, too. They have been able to locate establishments in urban areas which at one time lacked minority ownership. Significantly, some franchisors such as Burger King and the Southland Corporation, owner of the 7-11 convenience stores, provide special financial programs for minority owners. They also work closely with organizations like the National Association for the Advancement of Colored People (NAACP) to recruit more minority owners. In this respect, franchises have been a boon for society.
No matter who owns a franchise outlet, the franchisee and the franchisor share the risks and the responsibilities, although not always equally. Since both parties have a financial investment at stake, the risk can be substantial.
The franchise business model is by no means a get rich quick scheme. It will require resources, education, knowledge, determination and substantial energy effort expended to make the business grow for the future.
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Franchisee
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The franchise is a substantial way to build a business. Finding a franchise business model to pursue is much like wading amongst the fields of trash, to find a treasure. One will clearly find that searching franchises in a professional manner may uncover interesting aspects not thought of before. As in MLM marketing, often times the franchise business is pitched in that manner. It is important to note that building a business deals directly with the marketing research that should be conducted before purchasing anything. The process of sifting and sorting different franchise business opportunities will be time consuming, but the end result will find the true niche that appeals to professional minded men and women. One must understand that pursuing any business model will take time, effort, money and dogged determination to make the business prosper for the long term. Unfranchising may be a popular term that speaks volumes in finding a decent, and much less expensive and time consuming alternative to high cash outlay franchises. Creating legacy incomes is possible by finding the right business for particular interests. No matter which franchise one pursues, or even a franchise alternative, the path is clear that hard work and determination will be the rule of the day. The franchise failure rate is high which indicates that most will not have the type of proper thinking and mindset that will make the business grow and prosper. Most MLM or network marketing individuals will have neither the will, nor the desire to actually work any type of business model. These types of individuals are too busy trying to find the magic bullet for success, and are not willing to work to learn, before they earn money.
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Franchisee
A franchisee is an individual who purchases the rights to use a companys trademarked name and business model to do business. The franchisee purchases a franchise from the franchisor. The franchisee must follow certain rules and guidelines already established by the franchisor, and in most cases the franchisee must pay an ongoing franchise royalty fee to the franchisor.
The process of buying a franchise is a very long process that should be pursued very carefully. There are many factors to consider, and many steps to take during the franchise-buying process.
Many believe that Albert Singer, founder of the Singer sewing machine, was the initiator of franchising. He was actually the earliest person recognized by most as being associated with franchising. However, the concept of franchising really began long before.
Back in the middles ages, local leaders would designate privileges to citizens. Some of these rights included conducting fairs, running markets, and operating ferries. The franchising idea then carried forward to the practice of Kings yielding rights to conduct activities such as beer brewing and road building. In addition, the expansion of the church is known as a form of franchising.
During the 1840's, several German ale brewers granted rights to particular taverns to market their ale. This was the beginning of the type of franchising that became familiar to most of us in the twentieth century.
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