Franchising is a great way to become an owner of a small business. There are three different types of franchises which you can choose from, they vary in terms of your position, your input into the business and the amount of involvement of the franchisor. The three types of franchises are; the business format franchise, product distribution franchise and management franchise. Each franchise operates differently and in this guide you will find the differences between the three.
types of franchising
The prospect of quitting your day job and becoming your own boss can be very appealing and is the most common reason for venturing into franchising. If you are considering taking this step yourself, there are, however, several things you should be aware of right from the start. Although it may not seem that way, the decision to buy a franchise can quickly be regretted, if you don’t realise the challenges and nuances it entails, since underestimating them can have severe future consequences.
