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FRANCHISING

Franchising a Definition

A form of business organisation in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee. Some of the most popular franchises in the United States include Subway, McDonalds, and 7-Eleven.

Franchising is a business distribution model focused on brand development and unit expansion based upon the collaboration and combined efforts of both franchisor and franchisee. For the successful entrepreneur and prospective franchisor considering the establishment of a franchise system (i.e., "franchising your business") there are a number of franchising advantages and disadvantages that must be considered. Likewise, for the prospective franchisee looking to buy a franchise there are franchising advantages that should be considered.

Outlined in the following paragraphs, under two headings, are some of the Advantages and Disadvantages for Franchising for the Franchisor and the Franchisee.  These are by no means the only reasons but represent some of the things that should be considered.

PROSPECTIVE FRANCHISORS

"ADVANTAGES" TO FRANCHISING YOUR BUSINESS - some of the advantages to franchising your business include:

"DISADVANTAGES" TO FRANCHISING YOUR BUSINESS - Some of the disadvantages to franchising your business, include:

PROSPECTIVE FRANCHISEES

ADVANTAGES TO BUYING A FRANCHISE - Some of the advantages - provided that you choose the right franchisor - include:

DISADVANTAGES TO BUYING A FRANCHISE - Some of the disadvantages to buying a franchise, include:

What The Synergy Group can offer you:

Call The Synergy Group to get a review of your Franchising Plan for free and we will advise you on the best way to go forward.  Then if you wish we will hold your hand to make sure it works.

T: +353 1 8215189

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