Franchising is a business model in which an entrepreneur, known as the “franchisee,” pays for the right to use the trademark, products, and operating systems of an existing business, known as the “franchisor.”
In a franchise agreement, the franchisor agrees to provide the franchisee with support, training, and ongoing assistance in exchange for a fee. The franchisee is usually required to adhere to certain guidelines and standards set by the franchisor, including operating procedures, marketing strategies, and other aspects of the business.
Franchising allows entrepreneurs to start a business using a proven model with an established brand and a track record of success. For the franchisor, it provides a way to expand their business without incurring the cost and risk of opening new locations themselves.
International Franchise Show 2023 (IFS23) was in London between 14-15 April 2023. We were there! We met some amazing people with great ideas.