What it is
Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. In return the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a Franchise Agreement.
A franchisee is a self-employed business owner who uses the brand and systems of an established company rather than starting an independent business from scratch.
The main advantage of franchising is the level of training and support that’s available to help you make your business a success. As a franchisee, you’re in business for yourself but not by yourself.
Franchises are tried and tested business models with a proven track record of success. The franchise system has developed over time, with any problems being solved along the way. This means that franchisees can run their business more efficiently thanks to the fact that they get to learn from mistakes that have already been made.
Why learn this
Franchising is also one of the most prevalent and growing modes of self-employment in America. From Subway to McDonald and Dunkin Donuts to H&R Block, in US market there are close to a million ( YES) different established franchise options to pick from. If you are willing to give the process a try, Gigaplex Approach will help you land on a Franchise option very close to your likes and preferences.
Gigaplex Academy Franchising Learning track education will help you understand the true breadth of opportunities that are now available in the franchising world. It will also give you a strong foundation of best practices to follow and pitfalls to avoid. Lastly, the training will give you exposure to other aspects like Taxes, Benefits and labors laws for practicing as a Franchisee, a necessary set of skills and know-how to improve your odds of success.
We accomplish this by combining in-person coaching from by Franchising experts, online video based classes with deep coverage of subject matter, and cohort style learning experience that revolves around learning and growing together as a group of self-employment aspirants.
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