1 minute read
Franchise Model
While the franchising model has similar characteristics to the entrepreneurial model, franchising will involve more structure and multiple locations. It’s a business model that’s already been tested.
A franchisee must adhere to the principles and rules that are tied to the franchise that they are operating. A franchisee will receive extensive training so that they learn all of the aspects that surround their franchise business This is a major difference from an entrepreneur’s business.
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Of
course, that
training
And
support come
With
a cost. Franchisees will pay royalties on profits that they make as well as a license fee that allows them to run the franchise.
