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A franchise business is a business in which the owners, sell the rights to their business logo, name, and model to third party retail outlets, owned by independent, third party operators, called “franchises”. Franchises are an extremely common way of doing business, In fact, it’s difficult to drive more than a few blocks in most cities without seeing a franchise business.

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• There will be no need for market testing as the products and services will have already established a market share
• Since you can use a recognized brand name and trade mark, you would benefit from any advertising/promotion by the owner of the franchise
• The franchisor provides you with support which usually includes training, help setting up the business, a manual telling you how to run the business and ongoing advice.
• Prior business experience is not necessary as the franchisors provide you with training to operate their business model
• Financing a franchise business can be easy because banks are more willing to lend money to buy a franchise with a good reputation

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In franchise business there are orders that needs to be followed when operating their business. It is not flexible.

There are restrictions on products or services which can be offered, pricing and territory. It is not completely independent.

The performance of other franchises effects your franchise’s reputation. Thus the recruitment process has to be carefully done.

Must be careful to balance restrictions and support provided by the franchisor with their own ability to manage their business.

There are also multiple fees that needs to pay being a franchisees.