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Any business that, in whole or in part, is the same or substantially the same as the franchisor business. Usually the franchisee is not allowed during the term of the franchise agreement and for 24 months after its expiry or termination to engage directly or indirectly or acquire any financial or beneficial interest in any […]
A corporate unit owned and operated by the franchisor, typically used as a showcase for an ideal pilot operation, and a venue for training franchisees.
A non-refundable deposit paid by a prospective franchisee to the franchisor with the signing of a letter of intent to show a financial commitment to enter into a franchise agreement with the franchisor.
(Piggyback Franchise) An anchor business such as a gas station hosting a fast food operation or a convenience store or a large department stores hosting a smaller store-in-store niche franchise business.
The set of values and principles designed by a franchise association to guide its members of franchisors, franchisees, and service providers to conduct business with transparency, honesty, and integrity.
Two or more franchise brands complementing each other join in the same premises for the purpose of reducing start-up costs, increasing operational efficiency, and achieving higher income and profit levels.
Corporate training provided in the franchisor’s HQ conducted in person by an instructor to franchisees and their staff in an organized manner utilizing lesson plans covering areas such as corporate culture, brand values and market positioning.
(CFA) A non-profit association of more than 700 corporate members representing over 40,000 franchise business owners, helping people realize the dream of building their own business and amplifying the understanding and power of franchising by connecting people with opportunities and delivering learning opportunities that make franchising stronger.
A whimsical presentation authored by Sary Hamway to show how a diamond’s carat size, color, fluorescence, cut, and clarity may be applied in obtaining a franchise business.
An important article in the franchise agreement that allows the franchisor to buy back the business from a terminated or failed franchisee.
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