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Franchising
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Franchising may be defined as “an arrangement whereby the manufacturer or sole distributor of a trademarked product or service gives exclusive rights of local distribution to independent retailers in return for their payment of royalties and conformance to standardized operating procedures.” Person offering franchise is known as the Franchisor. The Franchisee is the person who purchases the franchise and is given the opportunity to enter a new business with a better chance to succeed than if he/she were to start a new business from scratch.
Franchising represents an opportunity for an entrepreneur to enter into business. In Franchising, the entrepreneur is trained and supported in marketing by the franchisor and will be using a name that has an established image.
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by
cooldude
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on
7/27/2010 1:04:17 PM
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