What is a Franchise?

What is a Franchise?There are many different types of businessopportunities but one of the opportunities thatmany people seize on a regular basis is the chanceto create a genuine revenue stream by owning partof the company. These are actually most alwayscalled owning stock in the company, but there isalso another way to look at this scenario as well.If you have ever wondered exactly what a franchiseis, but have never really had the opportunity toexplore everything that went along with it, hereis the perfect chance to learn about everything

you wanted to know about starting a franchise!The Franchise ExperienceWhat exactly is a franchise, though? Simply put,a franchise is an extension of another company;they use the same signs, advertising methods,products, and services of the company that it wasderived from. Virtually any type of business isable to be franchised if the terms are set forthin the company contract. For example, restaurantssuch as McDonald 抯, Burger King, and even Wendy抯 have the ability to be franchised. Otherstores, such as Starbucks, specialty retailstores, as well as plenty of other restaurants andstores have the ability to create a franchise ofthemselves. In other words, franchises areessentially clones of the company, but thefranchise owner is able to make separatedecisions apart from the company itself.Owning a franchise, though, shouldn't be confused

with owning an actual store of the business.Depending on what the franchise is and where itis located, one might have more luck owning anactual store of the business than he or she wouldwith owning a franchise! However, that issue isdebatable, but a franchise owner is able toexperience all of the same situations as thecompany owners are.Even though the company that had a franchisecreated of themselves still has some control overthe franchise itself, such as the specific foodsthat are used if the franchise is a restaurant,there are some decisions that the franchise ownercan make that will have no impact on the companyas a whole. For example, franchise owners aretypically allowed to change the seating style inhis or her restaurant or store, as well as theprices of the products themselves. In certaincases, certain aspects about the products canalso be changed with the consent of the company.If you own a franchise, though, the best thing to

do would be to contact the company itself to makesure you are allowed to make changes withoutnegating the whole contract!All in all, franchises are great experiences tohave and there are all sorts of benefits one canenjoy from owning one. They are definitely greatopportunities to take advantage of if you have thecapital to get started! Franchises areessentially clones of another company, and inthis way franchise owners are able to make mostof the decisions and experience the wholebusiness on their own!