Tag: Master Franchise Business Model

Understanding Franchise Business Model and Benefits
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Understanding Franchise Business Model and Benefits

A franchise is an authorization granted by a business or the government to an individual or a group to engage in certain commercial activities or act as an agent for another business. Nowadays, there are several franchise business models for an interested entrepreneur. It is important to understand the type and investment each franchise business model incurs for the best ownership decision. Types of Franchise Business Model Product Franchise This franchise refers to the customer-supplier relationship between a dealer and a supplier in which the dealer acts as a supplier. The franchisor trains the individual who purchases a franchise in product specifications, promotional techniques, service techniques, and brand-exclusive image knowledge. Joint Venture A joint venture agreement is sig...