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)
“For it is not the bare words but the scope of the writer that gives the true light, by which any writing is to be interpreted; and they that insist upon single texts, without considering the main design, can derive no thing from them clearly.”
—Thomas Hobbes (1579–1688)
“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)