Explain the importance of franchising in the U.S. and global economy. Define the concept of franchising. Describe the different types of franchises.

Benefits of franchising to the franchisee

• Explain the importance of franchising in the U.S. and global economy.
• Define the concept of franchising.
• Describe the different types of franchises.
• Describe the benefits and limitations of buying a franchise.
• Describe the legal aspects of franchising, including the protection offered by the FTC’s Trade Regulation Rule.
• Explain the right way to buy a franchise.
• Describe a typical franchise contract and its primary provisions.
• Explain current trends shaping franchising

3.2 Action Required:

• Watch the short video at the following link

3.3 Test your Knowledge (Question):

• Discuss the benefits of franchising to the franchisee.

3.4 Instructions

• Answer the question available in the “Test your Knowledge” section.
• Post your answer in the discussion board using the discussion link below