ALL YOU NEED TO KNOW ABOUT FRANCHISE BUSINESS

Franchise Business

The arrangement of franchise in business has been accepted world-wide by a lot of businesses cutting across almost all sectors in business. Franchising has helped a lot of startups and entrepreneurs who which to do business as a notable brand but for themselves and paying agreed percentage or amount annually or otherwise as agreed by the two partners.

I will be sharing with you all you need to know about franchise business, its advantages, disadvantages and I believe as an entrepreneur, you will learn one or two things either as a Franchisee or the Franchisor.

TERMS

Franchisor: Owner of a brand or business venture.
Franchisee: A partner wishing to use the franchisors brand in carrying out his business.

What is franchise?

Franchise is the business agreement involving two legally independent parties (Company, Venture, etc) whereby the franchisor gives license or authority to the franchisee to carry out its business or sell its products on the franchisors name at an agreed fee payable annually or otherwise.

This means that through this agreement, the franchisee has the right to the franchisors name, market his product/service or use their operating methods. Franchising gives authorization to partners to enable them carry out specific commercial activities as an agent.

Examples of reputable companies that run franchise include but not limited to; McDonalds, Mr. Biggs, Golden Tulip Hotels, Boston Pizza, Embassy Suite Hotels, Dunkin Donuts, Wendy’s, PostNet, Metal Supermarkets, InterContinental Group Hotels, 7-Eleven, Netspace and a whole lots of others. Even government owned establishments like NNPC in Nigeria is into the business of franchising. The government owned oil corporation partner independent marketers that have filling stations, taking up their names and changing to theirs, then supply them oil products directly to help reduce scarcity of oil products which is most of the times artificially staged by the independent marketers.

Learn more about Franchise business.

mr biggs franchise business

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Francis Nwokike

Francis is a Passionate Social Entrepreneur. Love discussing new trends in Business and Marketing. A Startup consultant. A good listener. Love to help that your business grow.

4 Responses

  1. Hello P, you can contact us through the contact menu above or send email to francis@thetotalentrepreneurs.com and copy nwokikefrancis@gmail.com so we can talk further and if convenient, arrange a possible meet.

    We surely will have answer to your questions on franchising.

    Thanks.

  2. Prince Anyanwu says:

    Please how do i contact you? I need to find out more details on petrol station franchising. I have a site already. Need to get all info I can before making a business decision. Thanks.

  3. precious kakiri says:

    I’m looking for a good patrol station franchise in Nigeria to invest into. please help me for the available ones. thanks 08037161994 my number.

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