What you’ll learn to do: discuss the advantages and disadvantages of franchises

For aspiring business owners who lack the time, vision, or resources to start from scratch, franchising is a viable alternative. Everyone is familiar with franchises—many industries such as fast food are almost wholly comprised of franchises. As appealing as it may seem, there are still risks to franchising for both the franchisor and franchisee.

The specific things you’ll learn in this section include:

• Define franchises as a form of business
• Discuss the advantages and disadvantages of franchising for the franchisee
• Discuss the advantages and disadvantages of franchising for the franchisor