What is a franchise?
A Franchise is a trademarked business formula owned by a company (Franchisor) and is available to individuals to purchase the rights to operate a small business (Franchisee) for a set period of time.
Franchisees are in effect, small business operators located in metro, suburban, regional and rural areas.
When you buy the rights to open a Franchise, you’re buying the rights to use a proven business system, with proven prices, products, and marketing techniques. You’re also buying the rights to a brand: You get full access to the company’s trademarked materials including logos, slogans, and signage—essentially anything that has to do with the brand.
What is a franchisee?
The Franchisor is the provider of the Franchise System and the Franchisee is the purchaser of the franchise business.
A Franchisee is a person who want to own their own business however would prefer to work within a tried and tested framework. Rather than and are prepared to pay a Franchisee fee to be allowed to operate using someone else’s business system.