Read the text. Choose the most suitable heading from the list for each part of the text.
Blank 1 Вопрос 1 What is a franchise?Franchise basics and regulationsWhat are the advantages of the franchise?A brief history of the franchise.
A franchise is a type of license that a party (franchisee) acquires to allow them to have access to a business's (franchisor) knowledge, processes, and trademarks in order to allow the party to sell a product or provide a service under the business's name. In exchange the franchisee usually pays the franchisor an initial start-up and annual licensing fees.
Blank 2 Вопрос 1 What is a franchise?Franchise basics and regulationsWhat are the advantages of the franchise?A brief history of the franchise.
When a business wants to increase its market share or increase its geographical reach at a low cost, it may create a franchise for its product and brand name.
Franchises are a very popular method for people to start a business, especially for those who wish to operate in a highly competitive industry like the fast-food industry. One of the biggest advantages of purchasing a franchise is that you have access to an established company's brand name, meaning that you do not need to spend further resources to get your name and product out to customers.
Blank 3 Вопрос 1 What is a franchise?Franchise basics and regulationsWhat are the advantages of the franchise?A brief history of the franchise.
The United States is the world leader in franchise businesses. The concept of the franchise dates back to the mid-19th century, the most famous example of which is Isaac Singer. Singer, who invented the sewing machine, created franchises to successfully distribute his trademarked sewing machines to larger areas. To this day, franchises account for a large percentage of U.S. businesses. The 2019 top 15 business franchises include McDonald’s, Taco Bell, Dairy Queen, Denny’s, Jimmy John’s Gourmet Sandwiches, and Dunkin’ Donuts. Other popular franchises include the chain hotel industry such as Hampton by Hilton and Day’s Inn, as well as 7-Eleven Inc. and Anytime Fitness.
Blank 4 Вопрос 1 What is a franchise?Franchise basics and regulationsWhat are the advantages of the franchise?A brief history of the franchise.
Franchise contracts are complex and vary for each franchisor. Typically, a franchise contract agreement includes three categories of payment that must be made to the franchisor by the franchisee. First, the franchisee must purchase the controlled rights, or trademark, from the franchisor business in the form of an upfront fee. Second, the franchisor often receives payment for training, equipment, or business advisory services from the franchisee. Lastly, the franchisor receives a percentage of the business’s sales. It is important to note that a franchise contract is temporary. Franchise agreements typically last from five to 30 years.