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What is a Franchise?

What is a Franchise?. Small business owner with large corporation connection Owner must follow rules and guidelines in place by big company Owner must pay big company up-front one-time fee AND ongoing royalty fee. Franchise vs. Chain.

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What is a Franchise?

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  1. What is a Franchise? • Small business owner with large corporation connection • Owner must follow rules and guidelines in place by big company • Owner must pay big company up-front one-time fee AND ongoing royalty fee

  2. Franchise vs. Chain • Franchise: owned by individual, but connected to larger corporation • Fast food restaurants, hotels, gas stations, etc. • Chain: a company that has branches managed by individuals, as an employee of larger corporation. • Think TGI Friday’s, Walmart, Barnes N Noble, etc.

  3. Why Franchise? • High success rate • Help with start up and beyond • Buying power • Name recognition • Profits

  4. Why Not Franchise? • Rules • Ongoing fees • Poor support, strict rules • Start-up cost

  5. How do I get one? • Application • Experience, background, and finances scrutinized • Interview • Meet with Franchisor • Contract • You’d need a lawyer’s help!

  6. Top Ten Of

  7. Did you know: This year Hampton is launching in the U.K., Mexico, India, Romania and Trinidad. Number of franchises: 1,753Franchising since: 19842010 rank: #4 Startup costs: $3,716,000 - $13,148,800 #1

  8. Did you know: In 2010, ampm launched a "secret menu" of snack bar recipes available only via Facebook.Number of franchises: 3,177Franchising since: 19792010 rank: #10 Startup costs: $1,786,929 - $7,596,688 #2

  9. Did you know: This year GPS enthusiasts calculated the furthest you could get from a McDonald's in the Lower 48: 115 miles away in a deserted area of northwest Nevada. Number of franchises: 26,209Franchising since: 19552010 rank: #2Startup costs: $1,057,200 - $1,885,000 #3

  10. Did you know: A new 7-11 opens every 6.5 hours • Number of franchises: 37,039Franchising since: 19642010 rank: #3Startup costs: $30,800 - $604,500 #4

  11. Did you know: A Supercuts franchisee in Houston set a new Guinness world record in 2009 by giving 349 haircuts in 24 hours. Number of franchises: 1,035Franchising since: 19792010 rank: #5Startup costs: $112,550 - $243,200 #5

  12. Did you know: In recent years, Days Inn has opened hotels in China, the U.K., Costa Rica and Russia. Number of franchises: 1,857Franchising since: 19722010 rank: #21Startup costs: $192,291 - $6,479,764 #6

  13. Did you know: Vanguard has benefited from the recession as companies have scrapped their janitorial department to cut costs. Number of franchises: 1,847Franchising since: 1984 2010 rank: #30Startup costs: $8,200 - $38,100 #7

  14. Did you know: After 40 years in business, Servpro opened its first international location in 2010. • Number of franchises: 1,526Franchising since: 19692010 rank: #9Startup costs: $127,300 - $174,700 #8

  15. Did you know: Subway claims there are more than 2 million sandwich varieties available in their storesNumber of franchises: 33,188Franchising since: 1974 2010 rank: #1Startup costs: $84,300 - $258,300 #9

  16. Did you know: Denny's started out in 1953 as Danny's Donuts, becoming Denny's in 1959 Number of franchises: 1,374Franchising since: 19632010 rank: #1Startup costs: $1,125,609 - $2,396,419 #10

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