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The word franchise is of Anglo-French derivation—from franc, meaning 'free'—and is used both as a noun and as a (transitive) verb. [2] For the franchisor, use of a franchise system is an alternative business growth strategy, compared to expansion through corporate owned outlets or "chain stores". Adopting a franchise system business growth ...
A master franchise is a franchise relationship in which the owner of the franchise brand (the master franchisor) grants to another party the right to recruit new franchisees in a specific area. In exchange, the other party typically pays some price as well as agreeing to take on some or all of the responsibility to train and support new ...
Shumai (Chinese: 燒賣; pinyin: shāomài; Cantonese Yale: sīu-máai; Pe̍h-ōe-jī: sio-māi) is a type of traditional Chinese dumpling made of ground pork.In Cantonese cuisine, it is usually served as a dim sum snack. [1]
The franchise rule requires franchisors to make material disclosures in five categories: the nature of the franchisor and the franchise system; the franchisor's financial viability; the costs involved in purchasing and operating a franchised outlet; the terms and conditions that govern the franchise relationship
A franchise agreement is a legal, binding contract between a franchisor and franchisee. In the United States franchise agreements are enforced at the State level. Prior to a franchisee signing a contract, the US Federal Trade Commission regulates information disclosures under the authority of The Franchise Rule . [ 1 ]
The franchising system can be defined as: "A system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right to become identified with its trademark, to sell its products or services, and often to use its business format and system." [13]
A franchise disclosure document (FDD) is a legal document which is presented to prospective buyers of franchises in the pre-sale disclosure process in the United States.It was originally known as the Uniform Franchise Offering Circular (UFOC) (or uniform franchise disclosure document), prior to revisions made by the Federal Trade Commission in July 2007.
System sales is a term used in the franchising industry. [1] System sales represents the total sales of all outlets that use a brand, or that use multiple brands owned by one franchisor. It is always higher than the franchisor's revenue. For example, say an average "Fast Eats" restaurant has annual revenue of US$1 million.