Franchising

Franchising is basically a marketing technique. Franchise relations' is the term used to describe the relationship between a franchisor and its franchisees. Typically, positive franchise relations indicate a favorable relationship between a franchisor and its franchisees, while the opposite is true of negative franchise relations. On the other hand, franchise is as a business arrangement, in which knowledge, expertise and often a trademark or trade names are licensed to an operator.
Franchising has several important features:
 It is a marketing technique
 It involves a contract for a fixed period
 The franchisor grants a right to market its product or service and use its business name, trade name, business format and systems.
 The franchisee pay a fee and receives management support and marketing effort, and
 The cost of the franchise is an initial royalty and, usually, a subsequent royalty payment based on a percentage of sales.
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Title: Small Business Accounting
Approximate Word Count: 738
Approximate Pages: 3 (250 words per double-spaced page)

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