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By: Dale Van Eckhout
Senior Area Manager
Bismarck Area Office
North Dakota District Office
Many people associate fast food businesses with franchising. In fact, there are over 120 different types of franchise businesses and hundreds of thousands of franchises available in the United States, including automotive, cleaning & maintenance, health & fitness and pet-related franchises, just to name a few.
Franchising is the practice of selling the right to use a firm's successful business model. This involves two major players which are the franchisor who sells the business model, and the franchisee owning a direct stake in the business. The franchisor's success depends on the success of the franchisees.
There are many benefits in buying a franchise including the following:
- Saving time - the franchise company already has the business model in place so you