Franchises

Franchises are a simple principle where a proven business are licensed to others to resell their products and service with the knowledge of the brand and reputation already established.

A franchise is a proven and developed business concept that has the potential to grow through one of the many different models of franchising such as master franchises in different countries, regional franchises within a country, independent franchises of defined regions, and licensing of unit businesses.

There are many types of franchises, detailed below, including all sectors of business. Different types of franchises are found in the retail sectors, food and catering, transport and vehicle services, business and commercial sectors, property, and skill based personal services. All of these types of franchise can be further divided into many sub-categories.

Franchising involves the payment of fees and royalties to a franchisor in return for training, marketing and business support from the franchisor. Both new and established brands have chosen franchising as their method of expanding regionally, nationally and internationally.

Franchising is a popular way for individuals to get into business with limited risk and a proven business model together with the support of the franchisor.

The different types of franchises provide advantages to entrepreneurs by providing an established brand identity, a proven business model and training, enabling new franchises to be successful without trial and error. The franchisor will require the third party to use the same logos, uniforms, pricing, and business methods in order to maintain the standards and reputation they have already established.