Other programs are less restrictive and allow for the usage of both a trade name in addition to the franchisor’s brand name. Major Franchise Types ? If you?ll need financial backing, then you will need to create a business plan. There?s a handy Business Plan workbook available at our site. Unit Franchising Is the most simple type of franchise in which the Franchisor grants the franchisee the right to operate a single operation at a specified location or within a particular territory. Considerations when buying a franchise ? Will the franchisor provide ongoing education and support? Home Based Franchising Conversely? *** Prepare a list of relevant questions prior to calling. It’s required by Law that prospective Franchisee’s are provided Comprehensive Disclosure, a copy of the franchisor’s Standard Franchise Agreement, Audited statements, a list of the names of all of the Franchisees, as well as a copy of all documents that require the franchisees’ signing. There’s a benefit to purchasing a franchise that is well known ? franchise ownership can be costly. There is a continual rise in the number of franchises. Note however, that a dealership can become a Franchise IF a FEE is paid to the franchisor AND the distributor is dependent upon the franchisor’s pay structure. Consequently, it is critical that you investigate the franchise thoroughly prior to purchasing. ? Subfranchising/Master franchizing Is [...]
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