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Who Can Explain Franchise To Me In Lay Man's Term - Business - Nairaland

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Who Can Explain Franchise To Me In Lay Man's Term by broom26955: 6:56pm On Dec 22, 2020
Who can explain franchise to me in lay man's term
Re: Who Can Explain Franchise To Me In Lay Man's Term by coolsegun2002: 7:38pm On Dec 22, 2020
broom26955:
Who can explain franchise to me in lay man's term

You want to start a fast food business....

Instead of building a name from scratch that people will trust over a long period of time....

instead, you go the franchise way by approaching sweet sensation(franchisor) who already has a big name and products that customers are used to.....after agreement

You will use their brand to set up ur own place. U will need to stick to their system and mode of operation ... because a dent from ur outlet is a dent on their brand name.....nobody knows it’s not original sweet sensation....
And of course... u will pay royalty to sweet sensation regularly for using their established brand

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Re: Who Can Explain Franchise To Me In Lay Man's Term by broom26955: 7:43pm On Dec 22, 2020
coolsegun2002:


You want to start a fast food business....

Instead of building a name from scratch that people will trust over a long period of time....

instead, you go the franchise way by approaching sweet sensation(franchisor) who already has a big name and products that customers are used to.....after agreement

You will use their brand to set up ur own place. U will need to stick to their system and mode of operation ... because a dent from ur outlet is a dent on their brand name.....nobody knows it’s not original sweet sensation....
And of course... u will pay royalty to sweet sensation regularly for using their established brand
thank you
Re: Who Can Explain Franchise To Me In Lay Man's Term by realman42: 11:13pm On Dec 22, 2020
Using a big organisation name instead of making and growing a new organisation.e.g you want to start a food restaurant instead of u to name as u want and grow d business u can decide to buy Mr Biggs name.so ur organisation has Mr Biggs name on it but it's not Dem dat truely own it but you.the bad tin is dat they will always tell u wat to do and u will be paying them Dem money

1 Like

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Re: Who Can Explain Franchise To Me In Lay Man's Term by DARLINGTON869(m): 1:11pm On Oct 23, 2023
coolsegun2002:


You want to start a fast food business....

Instead of building a name from scratch that people will trust over a long period of time....

instead, you go the franchise way by approaching sweet sensation(franchisor) who already has a big name and products that customers are used to.....after agreement

You will use their brand to set up ur own place. U will need to stick to their system and mode of operation ... because a dent from ur outlet is a dent on their brand name.....nobody knows it’s not original sweet sensation....
And of course... u will pay royalty to sweet sensation regularly for using their established brand

Perfectly said. I also think the franchisee will pay a thing called the franchise fee. After which royalties follows
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