Core Elements Of Business Franchise Ventures Essay

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Outcome 1 Identify the core elements of business franchise ventures. Evidence requirements 1.1 Types of business franchises are identified and key factors differentiated. Range franchise types – integrated business operations; single product or service operations; manufacturing and wholesale; manufacturing and retail; wholesale and retail; retail product; retail service; ideas; intellectual property. Answer Franchising is a long-term cooperative relations between the two entities, one or more franchisor and franchisees, based on an agreement where a franchisor gives the franchisee for licensing privileges to business. Franchisor grants the franchisee the right to use development concept, including trademarks and brand names, production methods and marketing services and all operating business model, for a fee. Master Franchise (integrated business operations) All master franchisee has the right developer and usually places takes more area. The main difference the master franchisee, as well as the opening of franchises in licensing fees and royalties to decrease could also sell the franchise unit, multi-unit franchises and franchise development areas, and profits from sales. Usually the master franchisee receives part of the ongoing royalties paid each franchisee. The master franchisor usually operate at least one unit of income generation for use in franchise sales, and for use as a training centre.. Products operations or individual services In this kind of franchise,

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