Franchise by J Hanton https://padlet.com/jhanton/4g3n3rnp8244 Advantages: Taylor, Andrew Disadvantages: Jayden, Scott en-us 2016-11-07 14:52:59 UTC 2016-11-11 10:10:28 UTC hello@padlet.com DEFINITION: jhanton https://padlet.com/jhanton/4g3n3rnp8244/wish/136955009 •Franchise - buying an existing business and gaining the right to use an existing business idea.]]> 2016-11-11 09:27:50 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136955009 https://www.nibusinessinfo.co.uk/content/advantages-and-disadvantages-franchising https://padlet.com/jhanton/4g3n3rnp8244/wish/136958838 2016-11-11 09:48:30 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136958838 disadvantages https://padlet.com/jhanton/4g3n3rnp8244/wish/136958883
  • Buying a franchise means entering into a formal agreement with your franchisor.
  • Franchise agreements dictate how you run the business, so there may be little room for creativity.
  • There are usually restrictions on where you operate, the products you sell and the suppliers you use.

    • ]]>     2016-11-11 09:48:43 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136958883     More Disadvantages https://padlet.com/jhanton/4g3n3rnp8244/wish/136959392
  • Bad performances by other franchisees may affect your franchise's reputation.
  • Buying a franchise means ongoing sharing of profit with the franchisor.
  • Franchisors do not have to renew an agreement at the end of the franchise term.

    • ]]>     2016-11-11 09:51:21 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136959392     Advantage https://padlet.com/jhanton/4g3n3rnp8244/wish/136959409 having a franchise can help with relaxation a it makes the process less stressful and more comfortable ]]> 2016-11-11 09:51:24 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136959409 Franchising is seen by many as a simple way to go into business for the first time. But franchising is no guarantee of success. https://padlet.com/jhanton/4g3n3rnp8244/wish/136960045 2016-11-11 09:54:55 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136960045 Advantage https://padlet.com/jhanton/4g3n3rnp8244/wish/136960161 Simpler business Financing]]> 2016-11-11 09:55:28 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136960161 Disadvantages https://padlet.com/jhanton/4g3n3rnp8244/wish/136960588 The franchisee is not completely independent. Franchisees are required to operate their businesses according to the procedures and restrictions set forth by the franchisor in the franchisee agreement]]> 2016-11-11 09:57:34 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136960588 Advantage https://padlet.com/jhanton/4g3n3rnp8244/wish/136960819 Anyone can buy and list up a franchise as long as they have sufficient spacing and funding]]> 2016-11-11 09:58:44 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136960819 Ad https://padlet.com/jhanton/4g3n3rnp8244/wish/136961026  Your business is based on a proven idea]]> 2016-11-11 09:59:45 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961026 Ad https://padlet.com/jhanton/4g3n3rnp8244/wish/136961077 You can check how successful other franchises are before committing yourself.
    Products and services will have already established a market share. Therefore there will be no need for market testing. You can use a recognized brand name and trade mark. ]]>     2016-11-11 10:00:00 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961077     Ad https://padlet.com/jhanton/4g3n3rnp8244/wish/136961135 You benefit from any advertising or promotion by the owner of the franchise - the 'franchiser'. The franchiser gives you support - usually as a complete package including training, help setting up the business, a manual telling you how to run the business and ongoing advice. ]]> 2016-11-11 10:00:15 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961135 Ad https://padlet.com/jhanton/4g3n3rnp8244/wish/136961246 No prior experience is needed as the training received from the franchiser should ensure the franchisee establishes the skills required to operate the franchise. A franchise enables a small business to compete with big businesses, more so than an independent small business, due to the pool of support from the franchiser and network of other franchisees.]]> 2016-11-11 10:00:43 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961246 Franchise Businesses https://padlet.com/jhanton/4g3n3rnp8244/wish/136961383 some businesses that have advantages include pizza hut, Starbucks & McDonald's ]]> 2016-11-11 10:01:27 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961383 Ad https://padlet.com/jhanton/4g3n3rnp8244/wish/136961416 The franchiser won't sell any other franchises in the same territory. Financing the business may be easier. Banks are sometimes more likely to lend money to buy a franchise with a good reputation.
    You can benefit from communicating and sharing ideas with, and receiving support from, other franchisees in the network.
    Relationships with suppliers have already been established.]]>     2016-11-11 10:01:38 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961416     https://padlet.com/jhanton/4g3n3rnp8244/wish/136961746 2016-11-11 10:03:22 UTC https://padlet.com/jhanton/4g3n3rnp8244/wish/136961746