Importance of franchising
- Franchising makes business more successful and profitable. Granting a license to use franchisor’s know-how and business formula can achieve expected results.
- In franchising the franchisor gives allowance to franchisor to distribute and sell its goods which make business more profitable.
- In franchising the franchisee use trademark and other elements of branding of franchisor to manufacture and distribute products.
- In franchising there is use of specific software for the business which provides education and business programmes to staff to expand business scale.
- In franchising the lawyer ensure that interests of both parties are protected by contract so that neither party is exposed to unreasonable commercial risk.