What is a Franchise Licence?
A franchise licence is a legal agreement that grants an individual or business (the franchisee) the right to operate a franchised business using the franchisor's established brand, operating system, and business model. By joining a well-established franchise network, franchisees gain access to a proven business concept, marketing support, training, and ongoing guidance.
Benefits of a Franchise Licence | Challenges of a Franchise Licence |
---|---|
Access to a proven business model | Limited business autonomy |
Strong brand recognition | Strict adherence to franchise guidelines |
Comprehensive training and support | Potential for ongoing fees |
Marketing and advertising assistance | Limited ability to customize the business |
Step-by-Step Approach to Acquiring a Franchise Licence
Best Practices for Franchise Success
Industry Insights
According to the International Franchise Association (IFA), the global franchise industry is valued at $2.5 trillion, with over 792,000 franchise businesses worldwide. The restaurant industry accounts for the largest share of franchise establishments, followed by business services and retail.
Top Franchise Industries | Number of Franchise Establishments |
---|---|
Restaurants | 30% |
Business Services | 23% |
Retail | 14% |
Health and Wellness | 11% |
Real Estate | 7% |
Success Stories
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