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the license fee required to start a jockey outlet is $45000 to $55000.

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The minimum requirement for a jockey franchise outlet is 1000 sq feet. This is a special requirement for jockey.

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Fun Fact!- Jockey is the first underwear brand to develop the Y-front shorts for men.

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Fun Fact!- Jockey is the first underwear brand to develop the Y-front shorts for men.

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Advantages for jockey:

Able to expand quicker since jockey do not need to gain funds to invest in new branches since the costs are incurred by the franchisee.

Jockey will receive a license fee and royalty bonus from franchisees which will increase profit.

Franchisees may be more aware of local conditions which will increase the chances of success in the local market.

Advantages for franchise

Banks are more willing to offer loans to a franchisee since there is an established customer base and strong brand image which will ensure sales are not low.

All garments and training is provided by jockey.

Lower risk since jockey is a reputable brand.

Disadvantages for jockey:

If there is unsatisfactory customer service in a franchisee outlet it will harm the brand image of the jockey.

Cost of training is incurred by jockey .

If sales decrease, the franchisee jockey may not receive the royalty bonus .

It is slower than other external methods of growth.

Disadvantages for franchisee

Need to pay a license fee to jockey.

There is no freedom for the franchise to alter the products to suit the local consumers.

Might be expensive to adhere to the high quality standards.

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The cost of starting a KFC franchise can range between 1.8 million dollars to 3.7 million dollars. This cost does not include the real estate costs.

The royalty fee is 5% on the gross monthly profits of the franchise

What makes KFC so special is the fact that they have a completely unique and original chicken recipe that is very secretive. People rave about the taste of the KFC chicken and they talk very positively about the taste of KFC. Another thing is that KFC is one of the most beloved fast food restaurants and offer a range of unique chicken products that a lot of people enjoy.

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A franchise is a form of business ownership whereby an individual or business buys a licence to trade using another company's products, name, logo, brand, and trademark. In return for this, the (franchise) purchaser pays a licence fee to the parent company(franchisor). The franchise also pays the franchisor a royalty payment.

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organization: KFC
Nature of the business: Franchise

Advantages to the franchisor:
1. Increases brand recognition
2. Access to capital
3. Reduced Risk (they can expand without putting any of their own finances at risk)
4. Supply chain (this enables the franchisor to increase their supply even in remote areas by giving out franchises)

Disadvantages to the franchisor:
1. Loss of complete brand control over the franchise
2. Legal disputes might increase if there are issues between the franchisee and their customers
3. The franchisor has to give technical "know-how" to the franchisee
4. If anything goes wrong with the franchisee, the franchisor's brand gets negatively affected.

Advantages to franchisee:
1. Built-in customer base
2. The franchisee gets to take all the profits from the shop
3. Own boss (they don't have to report to the franchisor of the business)
4. The franchisee can take the benefit of the franchisor's brand image and brand reputation

Disadvantages to franchisee:
1. The franchisee has to pay a fee to get the license to operate a franchise
2. Conflicts may occur in management decisions between the franchisee and the franchisor
3. Lack of financial privacy because all the financial statements have to be shown to the franchisor
4. Restriction because you can only sell the product which is sold by the franchisor.