FRANCHISING

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Franchise Agreement

Legal, written contract between the franchisor and franchisee which tells each party what each is supposed to do

Franchise Agreement

More specific than the UFOC.

Standard Operating Procedure

SOP stands for?

Single-Unit (direct-unit) Franchise

Simplest and most common type of Franchise.

Uniform Franchise Offering Circular (UFOC)

UFOC stands for?

Business Format Franchises

Use the complete method to conduct the business itself.

• Vission • Mission • Goals • Objective

VMGO stands for?

Franchisee

Who gets the right under franchisor's trademark?

• AREA DEVELOPMENT FRANCHISE • MASTER FRANCHISE

Two ways a multi-unit franchise can be achieved

Franchise

Agreement or License between franchisor and franchisee

Licensing

Allows licensee to pay for the rights to use a particular trademark.

Disclosure Statement

Also known as UFOC

UFOC

Disclosure document provides information about the franchisor and franchise system.

Service

Doing work for others ​

• Manufacturing • Merchandising • Service

Enumerate 3 kinds of Business

• Personal Service • Recreation Service • Finance

Enumerate 3 types of Service

Master Franchise Agreement

Gives franchise more rights than an area development agreement.

Feasibility Study

Must do before opening a business

Multi-unit Franchise

Open and operate, MORE THAN ONE UNIT.

Area Development Franchise

Open more than one unit during a specific time, within specific area.

Franchisor

Person/Company grants the franchisee, right to do business under the franchisor's trademark

Product Distribution Franchises

Supplier-dealer relationships. Not using the franchisor's method of conducting business.

• Single-Unit (direct-unit) Franchise • Multi-unit Franchise

TWO TYPES OF FRANCHISING ARRANGEMENTS

Manufacturing

The process of making a raw material into a finished product; especially in large quantities.

• UFOC • FRANCHISE AGREEMENT

Two main franchising legal documents

Merchandising

buying and selling of goods in a business for a profit

Distributorship

contractual relationship with supplier


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