Franchise
Franchising is one of the most successful business development models:
- providing an entrepreneur willing to start business with three times bigger possibility to stay on the market than starting business on his/her own;
- enabling the owner of a successful business to achieve extremely dynamic pace of business development by opening sometimes even several outlets a day.
Franchising as a business model is based on cooperation between the owner of a successful business concept and entrepreneur willing to start his/her own business. Franchising helps a successful businessman to find a motivated business partner, who for a certain fee is given the right to use the trademarks and business management know-how when opening his/her own unit.
Once a businessman chooses franchising for his/her business development, the basis for rapid development as well as a steady source of incomes are generated for him/her. While a franchisee is provided with franchise package preventing mistakes and high costs of new business concept creation. In addition to franchise package, a franchisee also receives business consulting from a professional, motivated and interested businessman, which helps to achieve prompt and effective business start-up.
Advantages for franchisor:
- Rapid development
- Attraction of motivated individuals
- Steady cash flows
- Lower development risk
- Chain value growth
- Economies of scale
Advantages for franchisee:
- Tested business model
- Easier attraction of funds
- Franchisor’s experience and assistance
- Trademark awareness
- Economies of scale
More information on franchising
Franchises are searched usually by using online directories containing detailed information about various franchises available for acquisition. Some franchises looking for franchisees in the Baltic States can be found in the specialised franchise directory Franchise hub.
Professional information about franchises available in foreign countries can be found in the following portals:
