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: Married Burger Franchisees on Playing to Each Other's Strengths
Franchise Players

Franchise Players: Married Burger Franchisees on Playing to Each Other's Strengths

After 30 years of experience outside the franchising industry, this couple now works together at Hwy 55 Burgers, Shakes & Fries.
Kate Taylor
Punching Above Its Weight, the Boutique Fitness Franchise Trend Is Taking Off
Fitness Businesses

Punching Above Its Weight, the Boutique Fitness Franchise Trend Is Taking Off

The landscape may still be dominated by big-box gyms, but smaller more niche services are quickly gaining ground.
Tracy Stapp Herold
Umami Burger Founder's Latest Dish? Chocolate Fried Chicken
Restaurants

Umami Burger Founder's Latest Dish? Chocolate Fried Chicken

The founder of the LA burger joint-turned-national franchise is hoping to make similar magic with a new restaurant called ChocoChicken.
Geoff Weiss
Franchise Players: How I Went From Fine Dining to Fast Casual
Franchise Players

Franchise Players: How I Went From Fine Dining to Fast Casual

How this McAlister's franchisee went from owning an Italian fine dining restaurant to running 23 delis.
Kate Taylor
Franchise Players: Don't Expect to Make Money Right Away
Franchise Players

Franchise Players: Don't Expect to Make Money Right Away

Franchising isn't for those trying to make a quick buck, says this sports league franchisee.
Kate Taylor
Why Athletes and Veterans Make Incredible Franchisees
Franchise

Why Athletes and Veterans Make Incredible Franchisees

Hardworking, creative and team-oriented, military personnel and athletes have entrepreneurial skills that are an asset to any franchise.
Joe Prusha
Looking to Steal Taco Bell's Thunder, McDonald's Offers Free Coffee
McDonalds

Looking to Steal Taco Bell's Thunder, McDonald's Offers Free Coffee

The day after Taco Bell began its breakfast sales, McDonald's announced plans to offer free McCafe coffee for two weeks during breakfast hours.
Kate Taylor
Franchise Players: An Ex-Convict Starts Life Anew as a Franchisee
Franchise Players

Franchise Players: An Ex-Convict Starts Life Anew as a Franchisee

After serving six years for bank fraud, John Rusnak seems to have found redemption in franchising.
Kate Taylor
Franchise Players: A Fitness Franchisee Who Persevered Through Cancer
Franchise Players

Franchise Players: A Fitness Franchisee Who Persevered Through Cancer

Instead of giving up when he was diagnosed with cancer, Woody Bedell doubled down and opened his first Exercise Coach studio.
Kate Taylor
Panera Gets Serious About Tech, Says Its Future Depends On It
Food Businesses

Panera Gets Serious About Tech, Says Its Future Depends On It

The soup and sandwich chain is introducing tech upgrades that include mobile ordering and self-checkout kiosks.
Kate Taylor
Franchise Players: Before You Buy a Franchise, Talk to Former Employees
Franchise Players

Franchise Players: Before You Buy a Franchise, Talk to Former Employees

Bruno Lima didn't just talk to other Anago franchisees before franchising – he reached out to ex-employees.
Kate Taylor
Kim Kardashian: Burger King's Newest Franchisee?
Burger King

Kim Kardashian: Burger King's Newest Franchisee?

What do you get for the girl who has everything? If you're Kanye West, you get her 10 international Burger King locations.
Kate Taylor
Franchise Players: A Former Drill Sergeant Who Hopes to Help Other Vets Through Franchising
Franchise Players

Franchise Players: A Former Drill Sergeant Who Hopes to Help Other Vets Through Franchising

After 24 years in the U.S. Army, Ron Adams put the skills he gained as a drill sergeant to use as a franchisee.
Kate Taylor
Why I Franchised: A Fitness Business That Looks Out for the Over-50 Crowd
Why I Franchised

Why I Franchised: A Fitness Business That Looks Out for the Over-50 Crowd

These franchisors took it upon themselves to provide somewhere for older gym-goers to get fit, founding Welcyon, Fitness After 50.
Kate Taylor