What is a franchise? How does the franchise business set up work and how can I set up a home care franchise?
Franchising is a way for people to set up a business under the already established brand and banner of a service provider. But how does that work in practise? What do you need in order to set up your own home care franchise and how does the set up and contract between the franchisor and the franchise work?
Read on to find out why so many entrepreneurs are turning to franchising to set up their businesses.
What does the word franchise mean and what is a franchise business?
A franchise is way for a business to be set up using an already established and successful business model. The franchisee (the entrepreneur,) usually buys a license from the franchisor (the company,) to allow the franchisee to distribute products or services in an area or to a particular group. Within this fee, a franchisee will receive access to the franchisor’s brand, support and help with set up and access to their brand.