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Franchises Main Features * In this type of ownership there are 2 main parties involved - the franchisee and the franchisor. * The franchisor (a large organisation) allows the franchisee (the individual) to use the businesses name, product and layout in return for a share of the profits made. Advantages * The business can expand. * Franchisees get the chance to run a business that has a greater chance of success than for example, a sole trader does. This is because if the business name is already well known, for example McDonald's then there is more chance of success. Disadvantages * If the franchisee is inefficient or unsuccessful, the business may receive a bad reputation. * The franchisee cannot make their own decision without the franchisors authorisation. * The franchisee does not automatically have their agreement renewed; they have to be reviewed regularly. This creates uncertainty for the franchisee. Workers Co-operatives Main Features * A...

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