Within a franchise system, there are two distinct roles, which are the “Franchisor” and the “Franchisee” The two parties work together to grow and run a successful franchise business.
The franchisor is responsible for:
* National marketing and Advertising for the brand.
* Research & Development of new products and services and to manage them properly.
* Management of franchise territories.
* Ongoing training.
* Evaluation of franchisees on a regular basis.
* Business Development opportunities like owning multiple units.
* Vendor recommendations – who to purchase from.
* Ongoing support and assistance to all franchisees.
* Help with choosing franchisee locations and negotiations with their lease agreements.
* Paying the required franchise and royalty fees to the franchisor.
* Finding, leasing and building a location for the franchise.
* Hiring and training employees.
* Running the business according to the franchisor standards.
* Signing and understanding of the franchise agreement and operational manual.
Once you buy a franchise, you become a franchisee. Your main priority will be to build the franchise business and generate a rewarding return on your investment.
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