franchising assignment only in australia
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(i) Franchising: Franchising involves two main things. These two main things are a franchiser and a franchisee. The franchisor gives permission to a franchisee a liscence to use their business name, product, layout, and in return the franchisee will pay a fee and or even a royalty. It offers an opportunity to enter into some sort of business with more assistance then is usually the case.
(ii) Franchisor: A franchisor is the person or persons that will own the business but, they don't do the day to day running of it. The franchisor is the person who will give permission, will give them their license to the franchisee to use their company name, format, and product.
(iii) Franchisee: a franchisee is someone who will pay a fee or/and a royalty to get a license from a business to use their name, format, and product.
(iv) What are the advantages and disadvantages or a franchise?
The advantages of a franchise are that the franchisor gives the chance for a business operator their name, and support in such areas as staff training, purchasing of goods and services, and also advertising is a big part. Franchises are also good because they provide a good return on investments...