Franchising these days generally refers to a business operation that licenses the right to use a name, product, service, or business system, usually within a defined territory, in return for a fee.
Franchising covers many different sectors of the economy, we all are familiar with the fast food sector. But the system also covers Home services, Financial services, Training and Retailing, to mention just a few.
Franchising also has different structures on how they operate. Generally the ingoing costs include a portion of Goodwill or Franchise fee. This gives you the right to copy the success formula of the Franchisor. There is usually a percentage of turnover that gets paid to the franchisor to cover advertising and a profit margin.
Whether you are looking to buy into a Franchise, turn your business into one or just explore the concepts in more depth, Financial Service Providers will welcome your enquiry.