Intro to Business › Section D · Forms of business ownership › Topic D.5
Franchising
Many of the restaurants, hotels, gyms and repair shops you pass every day are owned not by the famous brand on the sign but by local business people who license it. Franchising lets a brand grow with other people's money while those owners buy a tested way of doing business.
In this topic
- Renting a proven system
- Two kinds of franchise
- What each side gives
- Worked example: what the fees cost
- Advantages for franchisees and franchisors
- Disadvantages and risks
- The Franchise Disclosure Document
- Worked example: a rough payback check
- Franchising across borders
- Common mistakes to avoid
- Key takeaways
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