Franchising Opportunities for the Justice Involved
Source: FMS
Find Opportunities

Let’s start with franchising. A franchise is a business model which comprises three key elements – use of the brand, use of the business system and payment of a fee for the use of these two together. Many refer to franchising as having a three legged stool which includes these three elements.

What is it?
Franchising is when you allow the use of your business name and business system for the payment of a fee upfront and/or ongoing.

  • Why use it:
    Allows someone to use your name and trademark
  • You are paid a fee of some kind, generally it is an upfront fee plus an ongoing royalty payment such as a percentage of sales or a fee per product sold
  • Can be a more cost effective solution to expand initially
  • Allows operational control for consistency
  • Provides an exit strategy for the business
  • Common branding and marketing for brand awareness

Common Uses:

  • Used for business expansion to grow a business model in wide array of industries including service, food, lodging, retail, professional services, medical, and many others
  • Great use for manufacturing and distribution businesses
  • Converting other companies into your franchise
  • Used to help co-brand other existing similar types of businesses

Limitations:

While you have the ability to enforce operational requirements and consistencies, only the franchisee is able to manage employees.