Franchises

Franchises

5 Myths About Successful Franchisees

It's important to dispel these falsehoods to paint a clearer picture of what it takes to be successful.

The Rise and Fall of Chuck E. Cheese, Which Just Filed for Bankruptcy

The chain's parent company, CEC Entertainment, filed for Chapter 11 on Thursday, citing pandemic-related reasons.

Free Webinar | June 29: The Future of Business and Franchising: Strategies for Momentum and Growth

Join us as our experts discuss successful strategies to adapt your business to thrive while others fail and more.

Fight for Your Franchise Challenge, Week 12: Become a Stronger Leader With These Proven Tactics

Leadership-development tips and strategies from your 'Franchise Bible' coach.

Has Coronavirus Killed the Appeal of Franchising or Made it Stronger?

While business might seem bleak right now, franchise development officials are always focused on the future.

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These franchises can be run from a car, truck or van, and are still out there serving customers every day.

Franchising is a way for companies to expand their business by licensing the rights to third-party retailers or individuals -- or franchisees -- who then can use the franchise's logo, name and business model.

There are three different kinds of franchises. They include:

  • Distributorships, such as withToyota, which licenses the right for a third party to sell the parent company product.

  • Trademark licensing, which allows companies to buy the right to use the parent company's trademark along with their own brand, such as what Coca-Cola licenses to other companies.

  • Business format franchises, such as Subway, which offer its franchisees the right to sell its goods and/or services using its business model.

Popular franchises: Some examples of popular and well-known franchise models are in the food industry -- many of which have gone international -- such as McDonald's, Subway and Pizza Hut. Starbucks, which is commonly thought to be a franchise, is not.

For more information about top franchise businesses, check out Entrepreneur's 2016 Franchise 500® Rankings, or get the Entrepreneur Franchise 500.