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Franchising is an arrangement wherein one party or franchisor licenses or grants some authorities and right to the other party or franchisee. It is a marketing strategy used for business expansion. The franchisee pays franchisee fee one-time along with a percentage of sales as a royalty.

Students pursuing marketing have to often deal with assignments on franchising. However, many students lack the ability to deal with this work. This makes them avail of Franchising assignment help from BookMyEssay. We have hired competent marketing management assignment help experts who can offer the best writing help along with offering error-free writing help.

What is Franchising?

Franchising is a business strategy that a company uses to capture the market share. It is a strategy to get and keep customers. It creates an image in the minds of present and potential customers regarding how the products and services of a company can assist them. It is a method to distribute services and products to satisfy customer needs.

It is a network of business relationships, which enables people in sharing:

  • A brand identification
  • A proven distribution and marketing system
  • A successful method to do business

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Franchising is an alliance between people who have specific responsibilities and relationships along with a common objective of dominating markets. Some of the examples of franchising are Dominos, McDonald’s, Subway, Pizza Hut, KFC, Baskin Robbins, Burger King, and others.

Functions of Franchising

In a franchise, two parties enter into an agreement. The agreement enables a franchise to use the brand name of the franchisor and sell its services and products. The franchisee, in return, pays a fee to the franchisor.

Usually, a franchisee sells the products and services by functioning as a branch of the franchisor. It might use franchising rights and sell products under its business venture. The franchisor might grant franchising rights to a single or many firms or individuals. If a single person receives these tights, then he becomes the seller of the products of a franchisor in a specific geographical limit or market.

The franchisor supplies its services, products, brand name, trade secrets, and technological know-how to the franchise. It offers assistance and training in a few cases. The functions are discussed in our Franchising homework help online.

What are the Features of Franchising?

In a franchising agreement, a franchisor gives permission to the franchise for using its intellectual properties such as trademarks and patents.

The franchisee pays a royalty to the franchisor and might have to share a portion of profits. The franchisor on the contrary provides its assistance, goods, and services to the franchise.

Both parties sign an agreement. The agreement contains the terms and conditions that are applicable to both the parties regarding franchise.

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The Advantages of Franchising

The advantages of franchising are discussed in our Franchising assignment help online as follows:

Advantages to Franchisors

  • Franchising a great method through which you can expand your business without spending additional cost on its expansion. It is because the seller bears the expenses of selling.
  • It helps to build a brand name, enhancing goodwill, and reaching out to more and more customers.

Advantages to Franchisees

  • A franchise may use franchising for beginning a business on its already established brand name of a franchisor. Due to this, a franchise may predict the success and minimize the risk of failure.
  • The franchisee does not have to spend any amount on training and development as the franchisor offers this.
  • One additional benefit is that a franchisor might receive exclusive rights for selling the products of a franchisor within an area.
  • Franchises shall know the trade secrets and business techniques of brands.

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