A franchise is a unit sold to an individual or a group, wherein the buyer/franchisee purchases authority to market and sell product or services of the selling-company/franchisor within a predefined territory.
It is essential for a buyer to know what he is exactly purchasing and under what terms and conditions. As a buyer you need to know, how a franchise is operated? What are the cost and frequency of periodical fees? More importantly, what will your roles and responsibilities be as a franchisee?
Any franchise comes with standard protocols and operation procedure which clearly defines the extent of authority of the franchisee and the guidelines provided on each process by breaking a complex process into simple steps. The franchisee will have a safe procedure in hand that is fool proof, however at the same time it is something he/she will have to strictly adhere to. IIHT as well has comprehensive step by step procedure which is handed to a buyer when interest is expressed.
Franchise comes at a cost plus royalty fees (a royalty fee is an ongoing payment made by Franchisee to the franchisor against the brand and the other service utilisation). The roles and responsibilities are also, likewise, predetermined.
Franchise buying has become a popular way of start ups in the 21st century and is helping millions of individuals in becoming entrepreneurs. But the results are at its best when the first step is to know everything essential before hand, when you have a franchise business to start. If you want to know more about IIHT Franchise check FAQ or simply contact us.