What Are 5 Basic Types Of Franchises?

The franchise business model offers a unique opportunity to sell products and services under an established brand name and intellectual property. This mutually beneficial relationship between the franchisee and franchisor allows both parties to profit from the venture. While the franchisor collects franchise fees and royalties, the franchisee retains the remaining profits. This makes franchising an attractive option for aspiring entrepreneurs seeking independence with a proven business concept. Franchisees receive crucial support, including technical assistance, management guidance, and comprehensive training from the franchisor. However, prospective buyers often overlook the different types of franchises available. To make an informed decision when considering franchise opportunities, it's essential to understand the five basic types of franchises and their respective benefits.

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