What Exactly is a Franchise?

Franchise Euphoria

English - January 16, 2014 01:23 - 11 minutes - 16.4 MB - ★★★★★ - 165 ratings
Entrepreneurship Business Investing franchisee franchisor internet money brown business buy buying entrepreneurs euphoria Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: Importance of Identifying Your Passions BEFORE You Buy a Franchise

Next Episode: The Importance of Knowing What You Don't Know

In today's Franchise Euphoria Tip of the Day, we get down to the basics. What is a franchise? Most people when they think of a franchise think of McDonalds or Subway, but they don't really understand the basic components of a franchise. There are 3 elements that make up a franchise: Brand, Marketing plan, Franchise fee. In this episode, I explain this and share my favorite illustration I have ever read describing a franchise. Hint: Michael Gerber gets some attention in this episode! Hope you enjoy & Happy Franchising!