Question

Franchises have experienced considerable growth since the 1950s. When selecting a franchise, evaluate your needs. Ask yourself the following questions to determine where franchising is the appropriate route to small business ownership for you

Answer 1

A franchise is a way to start a business by purchasing the rights to use a proven business model created by the franchisor. Franchises have experienced significant growth since the 1950s because they offer benefits such as training, support, and a recognized brand. When selecting a franchise, it is important to evaluate your needs and consider factors like the level of support provided, the initial investment required, and the potential profitability of the franchise.

Step-by-step explanation:

Franchises and Small Business Ownership

A franchise is a way to start a business by purchasing the rights to use a proven business model created by the franchisor. In return, the franchisee pays a franchise fee and royalty fees. Franchises have experienced significant growth since the 1950s because they offer benefits such as training, support, and a recognized brand. When selecting a franchise, it is important to evaluate your needs and consider factors like the level of support provided, the initial investment required, and the potential profitability of the franchise.