. |
AssistanceFranchisesWhen you buy a franchise, you are buying the right to use a specific trademark or business concept, which has been tested in practice. The chief benefit is that you are able to capitalize on the business format, trade name, and support system provided by the franchisor.
You pay an initial upfront fee for the rights to open your franchise. This fee may include things like training costs, start-up promotional costs, stock, equipment/fixtures (you may be required to purchase or lease specific equipment and fixtures from the franchisor), and any other costs that are necessary to start your business. Usually, the franchisor helps you during start-up, with selection of premises and equipment, a business plan, raising finance, and publicity. In return, the franchisor supplies a detailed operational manual, which sets out exactly how you should run the franchise. You also have to pay ongoing fees to maintain the rights to your franchise. Most franchisors charge a royalty fee – typically a percentage of your gross sales, ranging from 1% to as much as 15%. It is also usual for franchisees to pay into a co-operative national advertising and promotional fund that benefits all franchises through increased exposure to the common trade name.
ORTUS, THE BUSINESS DEVELOPMENT AGENCY
|
Use this buttonpad to search under another letter of the alphabet.
|
|||
