Franchise

Franchising is a business opportunity that's somewhere between buying an existing business and launching a startup in terms of creativity, independence and risk. A franchisee buys a license from a franchisor to be a dealer of that business model. The owner of the franchise sells a product or service through its franchisees.

In exchange for an initial set-up fee and a monthly payment, the franchisor provides the franchisee a business model, marketing supplies, staff-training assistance, managerial consulting and a pre-existing supply chain. Also, the franchisee benefits from the franchisor's economies of scale, receiving access to prices that a business owner may not otherwise get running a single shop.

There is, in theory, less risk to buying a franchise business than starting a business from scratch because the business model has been tested. Also, as a franchise unit owner, you have a built-in advisory board in the management staff of the umbrella franchise organization. On the downside, you have less creative control over your business as a franchisee than as an independent business owner.

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News and Articles About Franchise

Franchise Players: A 'Fatherpreneur' on Incorporating Family Into Your Business
Franchise Players

Franchise Players: A 'Fatherpreneur' on Incorporating Family Into Your Business

As a Tutor Doctor franchisee, Chris Lien's career priorities align with his family priorities.
Kate Taylor
Potential Franchisees: The Right Way to Ask 'How Much Money Can I Make?'
Franchise Opportunities

Potential Franchisees: The Right Way to Ask 'How Much Money Can I Make?'

There's a right and wrong way to ask how much money your potential franchise could earn when researching becoming a franchisee.
Joel Libava
Franchisees Take Action Against Seattle's Minimum Wage Law
Minimum Wage

Franchisees Take Action Against Seattle's Minimum Wage Law

Outraged that the new law holds them to stricter rules than small-business owners, franchise owners are fighting back with a lawsuit and full-page ad in the 'Seattle Times.'
Kate Taylor
Franchise Players: I Became a Multi-Unit Franchisee While Still in College
Franchise Players

Franchise Players: I Became a Multi-Unit Franchisee While Still in College

Aneesh Patel got an early start in the food industry, opening five restaurant franchises before he graduated from college.
Kate Taylor
Franchise Players: How This 'Computer Mom' Became Franchisee of the Year
Franchise Players

Franchise Players: How This 'Computer Mom' Became Franchisee of the Year

This 60-year-old mother, grandmother and franchisee has been defying stereotypes as a powerful woman in tech since 1999.
Kate Taylor
Questions to Ask Before Saying, 'Honey, I Think We're Ready to Franchise'
Franchise

Questions to Ask Before Saying, 'Honey, I Think We're Ready to Franchise'

Want to take it to the next level? This gut check will let you know if you should proceed, or continue working on your business.
Jeff Sinelli
For Some, Business Search Starts at Annual International Franchise Expo
Franchises

For Some, Business Search Starts at Annual International Franchise Expo

This annual trade show, to be held next week at New York City's Javits Center, aims to connect prospective entrepreneurs with leading franchise executives.
Geoff Weiss
Franchise Players: Wayback Burgers Franchisee on the Power of Customer Service
Franchise Players

Franchise Players: Wayback Burgers Franchisee on the Power of Customer Service

Howard Zeller lets history be his guide as a franchisee at this nostalgic burger joint.
Kate Taylor
Franchise Players: Jumping From a Food Franchise to a Spa Franchise
Franchise Players

Franchise Players: Jumping From a Food Franchise to a Spa Franchise

Scott Adams took on eco-friendly franchising as a Massage Green Spa franchisee. Here's what he has learned.
Kate Taylor
Franchise Players: Helping the Earth Through Franchising
Franchise Players

Franchise Players: Helping the Earth Through Franchising

SuperGreen Solutions gave Mark Sudak a chance to find energy efficient environmental solutions in his community.
Kate Taylor
Will Taco Bell's Latest Mashup Be a Hit?
Taco Bell

Will Taco Bell's Latest Mashup Be a Hit?

Taco Bell is rolling out the Quesarito -- a quesadilla burrito combination -- nationwide on June 9.
Kate Taylor
Reminder: It's National Doughnut Day
Dunkin' Donuts

Reminder: It's National Doughnut Day

The only thing that makes Friday sweeter? Free doughnuts at Krispy Kreme, Dunkin' Donuts and more.
Kate Taylor
Franchise Players: On Being the First Franchisee in a Young Industry
Franchise Players

Franchise Players: On Being the First Franchisee in a Young Industry

LED Source is the first U.S. franchisor in the LED lighting industry. Jamie Shapiro is its first franchisee. Here's what it means to pave the way.
Kate Taylor
Franchise Players: The Life of a Franchisee Is No Cakewalk
Franchise Players

Franchise Players: The Life of a Franchisee Is No Cakewalk

Ed Manns has been in the restaurant business since age 16. Now a Golden Corral franchisee, he knows the industry -- and all its demands -- inside and out.
Kate Taylor