FRANCHISE AGREEMENT

Abstract

Franchising is a popular way to start a business because it offers greater business security. When you buy a franchise, you become part of a large organization with all the benefits that go with it. Advertising to a wider region with headquarters-ready ads is just one of the advantages. The franchisee buyer pays an agreed amount, and in return gets the right to: -Sells a particular product or service; -Use a trade name; -Use trademarks; -Technique of operation or technological process owned by the franchisee. The success of the franchise calls for a continuous relationship between the seller and the buyer. The franchisee agrees to maintain certain standards of vendor-specific operations, and the vendor receives a percentage of the product-service sales and provides expansion of its business locally and globally.


Key words: Franchises, Franchise Parties, franchise types, advantages of franchising, franchising in RM.