Franchise Business is a Business Partnership Model which involves two parties, the franchiser and the franchisee. Basic information of a Franchise Business are:-
- Franchiser provides the business know-how, training, system and his brand for marketing to the Franchisee. Franchisee is fully responsible for managing and expanding franchiser's business..
- Entrepreneurs, who like to become franchisees should have the will, dedication and sufficient capital to work as Franchisees.
- Today, Franchise Business exists as a successful business module for various business sectors.
- Franchisee to become a successful business partner has to visit as many franchisees as possible to know about each business model.
- He should have thorough analysis of Company's (Franchiser's) previous record and its performance.
- Franchisees should be optimistic and be realistice about their financial capacity to invest into Franchise Business.
- It is advisable for a Franchisees not to skip the Franchise Consultants often.
- It is found that 90% of the Franchise Business has been very successful during the last 20 years.