Who's Who?
Franchisor- The business that gives the franchisees the right to sell its product or service.
Franchisee- A business that agrees to manufacture, distribute or provide a branded product, under licence.
Advantages of a Franchise-
-Access to tried-and-tested products.
- Specific support and training provided
- Possibly an established customer base
- Advertising all done, all ready well known
-Expensive marketing costs covered by the franchise
Most franchises that open up tend to rent equiptment for their franchise.
Advantages of a Franchise-
-Access to tried-and-tested products.
- Specific support and training provided
- Possibly an established customer base
- Advertising all done, all ready well known
-Expensive marketing costs covered by the franchise
Disadvantages of a Franchise-
-No control over anything.
-You have to split your profit.
- Tied to suppliers
-Risks from others.
-Responding to the market.
More detail required. You should also include some examples of franchises that you could find in the UK. Also, add 2 multiple choice questions that you might find in the exam.
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