Advantages & Disadvantages of Franchise

Many entrepreneurs, especially beginners, are not aware of what the franchise is. The franchise is a form of agreement, which is signed between a person or group of people (franchisee) and a trading group (the franchisor), and determines the right to use their trademark, brand in commercial purposes. Franchising, as a system, is considered to be a well-proven way to reach a success in a certain business at a short period of time. According to statistics, such a system allows to overcome a five-year milestone in the development of the company and continue to work to obtain high profits. When you purchase a franchise you are buying a profitable business. What is more you will have an opportunity to work in tandem with an experienced and reliable franchisor, which not only has an idea of how to develop a successful business, but also ready to provide comprehensive assistance.

As a rule, when renting a brand you will have to pay lump-sum payment. This is one-time not refundable fee, which confirms your right to use the franchise. Monthly you will pay 8% of the turnover to the trademark owner. This payment is called a royalty. In principle, this is an analog of rent payment.

Most of online stores provide a website with a list of Iksanika Magento solutions to improve stock inventory as a part of agreement because all online stores should look the same for the customs and have the same functions. In this case Magento is a perfect solution.

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