Franchises. Select a Type of Ownership Steps to purchase/start a business.

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Presentation transcript:

Franchises

Select a Type of Ownership

Steps to purchase/start a business

Advantages of a family business

Disadvantages of family business

Defining Elements of a Franchise

Before we get going The Franchisee is you The Franchisor is the actual franchise

The Franchising Process

Forms of Franchising Area Franchising Sub-franchising Conversion Franchising Combination Franchising

Area Franchise (What phrase do we have to know for this section?)

Area Franchising

How does it work?

When is it used?

Sub-Franchising (What phrase do we have to know for this section?)

Sub-franchising

How does it work?

When is it used?

Sub-Franchising

Conversion Franchising (What phrase do we have to know for this section?)

Franchisees Advantages to conversion franchising

Franchisees disadvantages to conversion franchising

Franchisor advantages to conversion franchising

Franchisor disadvantages to conversion franchising

Combination franchising

Advantage to combination franchising

Disadvantage to combination franchising

Test on first section

So, how do I get started with a franchise?

What is it called when you need money to start a business?

Selecting the Franchisor

How do I know if the franchise I’m interested in is a good one? Evaluating a franchise

Negotiating a Franchise

What documents should I pay close attention to (remember if you have questions ask someone on your team to explain)

At the negotiating table

The Franchise Program and what it covers

The Support Service Package

The Operations Manual &Content of the Operations Manual

Training

Controls, Systems and Procedures

Marketing and Advertising

What are advertising fees?

Finance

The Franchise Agreement Check out the clip in the video’s folder about understanding the franchise agreement!

What does this agreement include?

The Franchise System

The Territory for which a Franchise is Valid

Rights and Obligations of the Parties

Duration of the Franchise

Payments by the Franchisee to the Franchisor (4 factors)

What are royalty fees?

The Right to Transfer the Franchise

The Franchisees interest