Franchise business is when the owner of the private company sells the rights of the business logo, model, etc. to some party and allow the party to sell a product or provide a service under the business’s name. There are numerous advantages that come with owning such a business. The original business helps to deal with problems, the risk is low, Franchisee gets the latest technology and methods, marketing strategies are provided and it’s more likely to succeed. It provides a safety net. The combination of faster growth, increased profitability, and increased organizational…
To simply answer that question, yes. Franchise business has proven to be profitable. We live in a world where everything has its pros and cons. Similarly, a franchise business also has its pros and cons. Franchise business is when private owners sell the rights of business logo, model, name of huge companies. It usually is an MNC (Multinational Company), that sells its rights to run their franchise in a different location. This is generally done to extend their already profitable business. These private owners are called Franchisees. Relations between sellers and…