Jump Start Your Week

Hey Entrepreneur! Its time to Franchise!

February 10, 2020

JumpStart Your Week

Dear ,

Welcome to a new week!

Do you know that franchising has significantly contributed to the overall world economy and has proven to be a profitable venture for those seeking both freedom and financial stability?But what exactly is a franchise and why should you consider it as a business person?

A franchise business is a business in which the owners, or "franchisors," sell the rights to their business logo, name, and model to third-party retail outlets, owned by independent, third-party operators, called "franchisees." In other words, the franchisee is licensed to use the franchisor's trade name and operating systems.In exchange for the right to use the franchisor's business model - to sell the product or service and be provided with training, support, and operational instructions - the franchisee pays a franchise fee (known as a royalty) to the franchisor. The franchisee must also sign a contract (franchise agreement) agreeing to operate by the terms specified in the contract.This two-part article highlights some of the key things you need to know about franchising, the different types of franchising and the pros and cons of franchising. Keep ReadingPart 1 - Part 2

Do have a great week!Sincerely,Oluchi Johnson-AchibiriCommunity Manager, msmehub.orgFATE Foundation1st Floor, Water Corporation BuildingIjora, Lagos

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