What are franchise opportunities? If you are interested in starting your own business or are already involved in self-owned and ran businesses, you probably already know a bit about franchise opportunities. If not, then we will help you out here with this article.
A franchise is basically an agreement or a license between two agreeing parties which states that a person or a group of people (known as the franchisor) gives the rights to market a product or service using the trademark of another business to the other party (the franchisee).
An example of this is with many chain stores such as fast food restaurants or convenience stores. Many McDonald’s locations may actually be franchises. The same is true with 7-11 stores. There are actually many well-known, big name companies that operate under franchises. Some of these are corporate stores, ran by the actual company but many may be ran by franchisees. If they are a good franchise, you probably don’t even know the difference.
A franchise opportunity is when a potential investor has the opportunity or chance to purchase or invest in one of these franchises. Let’s say someone wants to own their own business or open their own store but they want assistance. A franchise might be a good option because they can open the store under the brand name that is already well known.
Right from the beginning, they are already at an advantage over stores that start up on their own that are not franchised. Customers recognize the name and trademark and will automatically associate themselves with the location and begin to do business there.
There are benefits to both parties in a franchise opportunity. Often, a franchise owner is able to give more care and attention to a business than a big-business corporate store would be able to so it creates a better business but with the same name. This is great for the franchiser. It also means their name and trademark continues to grow which is always good for business.
But it is also a good deal for the franchisee in many cases because they get a start they would not be able to do on their own. If the trademark name is already popular, they have that advantage and they also have the advantage of getting starter assistance, training materials and more from the franchiser.