In this episode of TT, we discuss the basics of Franchising. While Franchising is not an equal partnership, franchising can be a vehicle of success for both franchisor and franchisee. A marketing concept, it is also a strategy for business expansion. The franchisor licenses know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. In return, certain fees are paid and certain obligations need to be met. However, one disadvantage of franchising is quality control, as the firm's brand name conveys a message to consumers about the quality and consistency of the firm's product and this has to be protected.
With Paresh Shinde
https://www.linkedin.com/in/pareshshinde/
