Scope
By joining a franchise an investor or franchisee is able to run a business under the umbrella of the franchise.
The franchisee must pay a franchise fee, which may become costly. In the USA it may amount to thousands of dollars. In return the franchisee may enjoy the use of the franchisor's system and name for a limited time as well as assistance. Such help includes location assistance for the outlet. The franchisor may provide initial training and an operating manual. Then the franchisor may also advise the franchisee on management, marketing, or personnel.
Read more about this topic: Franchise Fee
Famous quotes containing the word scope:
“Every person is responsible for all the good within the scope of his abilities, and for no more, and none can tell whose sphere is the largest.”
—Gail Hamilton (1833–1896)
“Each man must have his “I;” it is more necessary to him than bread; and if he does not find scope for it within the existing institutions he will be likely to make trouble.”
—Charles Horton Cooley (1864–1929)
“In the works of man, everything is as poor as its author; vision is confined, means are limited, scope is restricted, movements are labored, and results are humdrum.”
—Joseph De Maistre (1753–1821)