So, he decided to set up a Franchise.
A Franchise is a business model in which a business owner contracts with a franchisor to open and operate a specific type of business, typically a restaurant or retail store. The franchisor provides the ownership, management, and support needed to make the business successful, while the business owner retains all rights and ownership of the intellectual property and trademarks associated with the business.
A Franchise is a great way to run a business with a lot of flexibility. You can open and close the business at will, which means you can make more money and have more control over your business. The franchisor can also help you get started in a very fast and easy way.
A Franchise is a great way to start your own business. It’s a lot of flexibility, and it can be a lot more profitable than starting your own business from scratch.
BENEFITS OF OPENING ONE
1) Increased earning potential as a result of being open to new opportunities.
2) Increased customer base as a result of being more accessible and welcoming to potential customers.
3) Increased sales potential as a result of being more willing to experiment and take risks.
DRAWBACK OF INVOLVEMENT IN FRANCHISE
usually, a franchisor has the exclusive right to sell their product or service in a certain geographic area. Additionally, a franchisor also has the right to use the trademarks and other intellectual property of their franchisor in order to increase their sales. Additionally, franchisor companies often use manipulative practices in order to force their customers to buy their products or services.