hi my name is mark and we're going to
look at what's meant by a franchise
model
a franchise
is a business
arrangement agreement between
an existing successful business
organization with a known name brand
and you as a potential entrepreneur
who wants to use their
method system
and incorporate it in your as your own
business
for this you have to pay a fee
and also you have to run your business
by the guidelines of the franchise
holder
it's a very strict agreement because
obviously there's a method a successful
method of doing things and you as an
entrepreneur who wants to buy into this
has to agree fundamentally with their
system and their operation
this is what's really known as a model
and that is how to do something from a
to z what the steps are the methods are
how you engage the business how you
engage with the customer how you
interact
what services you offer how you offer it
it's the philosophy of the franchise
holder you're buying into
and as a obviously it's a very well
known and established organization and
is successful that is the reason why
you're buying into it
so these are the steps that you must
take and follow in agreement with a
franchise holder and that is what is
known
as the franchise model so all the best