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Franchise Vs Business

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by

Tevin Burston

on 18 April 2011

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Transcript of Franchise Vs Business

S So...What Is A Franchise? A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee. Franchises enable individuals with the ability to start a business without worrying about promotionals, and they can simply work a company that already has a branded name that customers know. Disadvantages: Constant Fees, No Control On Appearell, and must follow company's rules at all times. How To Start A Franchise? Start-Up Cost and Franchise Fees
Royalty Fees
Most Require Business entrepreneur background Franchises have A 95% Success Rate. Royalties-A payment to employ a trademark licence.
Start-Up Cost- Cost in order to start the franchise.
Franchise Fees- Fees that a franchising business gives to receipients of that business.
Success Rate- The rate in which things succeed compared to failed.
Business Liscence- Business licenses are permits issued by government agencies that allow individuals or companies to conduct business within the government's geographical jurisdiction.
Permit- a legal document giving official permission to do something.
Partnership- A business owned by two or more people, but is uncorporated.
Sole Proprietorship- A business owned by one individual who takes all financial responsiblity.
Corporation- A business owned by shareholders
Double Taxation- Taxing an individuals business and them personally.
Financial Risk- Being liable for all financing.
Federal Government- National government
State Government- The government of the state that you are in. What Are Small Business Opportunities? Sole Proprietorship
Partnership
Corporation Advantages: An individual is his/or her own boss.
Disadvantage: Take all financial risk Advantage: General Partnerships do not require registration with the state.
Disadvantage: All Partners are responsible for the business liabilities. Advantage: Being able to expand your business.
Disadvantage: Double Taxation. How To Start One? How To Start One? How To Start One? Register your sole proprietorship's name

Obtain business licenses and permits for your sole proprietorship from:

•The federal government.
•Your state government.
•Your local government. Two or More people gather with the intent of starting a business.

Business Licsenses and necessary permits are a must. 1. Choose a Corporate Name & Address

2: Select A State to Incorporate

3: Select A Corporation Type

4: Determine Company Directors

5: Choose Your Share Type

6: Obtain Certificate of Incorporation

7: Process & File Incorporation According to data gathered by the U.S. Bureau of Labor Statistics most failures of new businesses occur within two years of their existence. The data also shows that across different sectors 66 percent of new businesses were still operating 2 years after startup. After 4 years 44 percent were still operating. These rates of survival are consistent across various industries. Terminology
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