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What are the statutory requirements for franchising a business?
There are also many other statutory requirements. In case of a partnership, such requirements as articles of association or memorandum of association may be one of the requirements that the state demands to authenticate any entry into partnership (Michael and Hitt, 2010).
Is it a good idea to franchise your business?
Conclusion. In conclusion, therefore, though demerits of franchising are there, it remains to be an effective way of getting into business. The various merits make this form of starting business be popular, unlike other forms like start up. It therefore turns out that franchising is a major growth area for business.
Who is a franchisor and who is the franchisee?
In clear terms, a franchisee is the individual who embarks on purchasing and consequently running a franchise. On the other hand, a franchisor is the person from whom the franchisee buys the franchise. In order for the franchise to work, there are always some rules and regulations that the franchisee must adhere to.
Which is an example of franchising in business?
This is further proven by the fact that in franchise, the products and services that one wants to deal with are already in the market and are already established.a good example of this is for a person wanting to get into pizza business.he can choose to buy a franchise from the domino’s pizza.
Last Update: Oct 2021
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