Franchising, a concept that has existed for centuries, but got its explosive modern-day beginning in the 1960s, has become a popular way for entrepreneurs to fast-start their small business ownership ambitions.
In reality, franchising is a way for the creator of a business to expand the business rapidly using the invested capital of the franchisees who, in turn, enjoy the benefits of business ownership with an equity stake in the incremental profits of the operation. Although structured as an independent entity, the franchise is obligated to operate by the rules set down by the franchisor. Read on…
