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To what extent does being a franchise present a opportunity to run your own business? What are the advantages and disadvantages of being a franchisee compared to a small business owner?
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| Submitted: Thu Jul 11 2002
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To what extent does being a franchise present a opportunity to run your own business? What are the advantages and disadvantages of being a franchisee compared to a small business owner? The roots of Franchising can be traced back to the middle ages, however it only began to take root in 1950's America, from where it has spread rapidly throughout the developed world. However much confusion surround what is actually meant by the term franchising. This stems in part from the variety of business arrangements that closely resemble franchising proper, and in part from the widespread use of the term in a range of contexts. Varies definition's have been given which covers much of the franchisee relationship but fail to incorporate fails to incorporate the on- going payments made by the franchisee (British Franchise Association, Thompson 1971) However Mendlesohn's definition of franchising which highlights four basic features common to all franchisees goes...
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