One of the most popular ways of opening a new business today is by franchising. Franchising is being pursued by budding entrepreneurs for many reasons. But do we really understand the advantages of franchising and is it really a good choice of business?
Having an established brand name is one of the advantages of franchising. Every year, billions of dollars are spent on advertising and marketing brand names of companies. It is because they produce great results. The quality of the product and consumer trust is often reflected by a good brand name. Brand names give the consumers assurance of a high quality, dependable and consistent products.