Franchise Basics | FAQs

What is a franchise?

Franchises are essentially “boxed businesses”…

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What is the history of franchising?

Perhaps the earliest retail franchisor is Ben Franklin stores, which started in 1920 and began to franchise around that time…

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Why do businesses franchise?

The answer comes down to wanting to grow faster…

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Why own a business or franchise?

Franchises offer the independence of business ownership supported by the benefits of an experienced, larger business network…

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What are some of the benefits of owning a franchise rather than an independent business?

Most business experts agree that franchises have a higher likelihood of success than independent businesses…

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What are some of the drawbacks of owning a franchise?

“Franchisors require franchisees to follow their standard operating policies and procedures, in order to maintain brand consistency across the chain…”

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Can I own numerous franchises?

Yes! Depending on the type of business…

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How are new businesses financed?

The cost to begin a franchise is disclosed within that franchise’s Franchise Disclosure Document…

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