What is Franchising?
Franchising is a method of expanding a business by distributing products or services under one trade name and brand. The business that starts the franchise, the franchisor, will license its trade name and operating methods to the franchisee to distribute the product or services in accordance with terms and regulation as set forth in the franchise agreement.
Starting or Buying a Franchise
A business that has set out its systems and procedures, and is trading profitably, may choose to start a franchise. If you are the franchisor you may benefit from additional profits and you may retain control over your business system. Rather than starting your own business, you can purchase an established successful business franchise. Buying a franchise has it's advantages and disadvantages, but it is at least a path to self employment.