As a franchise restaurant owner, you have countless responsibilities. On the downside of franchising, there are concerns for the parent company regarding the control and profit making of a single franchise unit. Epistemological origin of the word “franchise” includes the French root words of “honesty”, but it is difficult for the franchisor to take this for granted. Individual franchising units may lead to problems of pricing and profitability concerns, as the rights allotted to the franchisee cannot always be regulated by the franchisor. Adding to the equation of the franchisor and the franchisee are other issues of control, use of raw materials, shipping of materials and other regional problems that crop up with the individual franchise unit. Legal terms are binding to the franchisee, and the violation of this result in the poor working of the franchise system, which leads to the loss in money.
For a total investment of $10,000 selected franchisees (who we call Franchise Partners) are granted the rights necessary to operate a franchised Steak â€˜n Shake restaurant. This opportunity requires that the individual be free of any other active business ventures and operate the restaurant on a full-time hands-on basis.
In the United Kingdom there are no franchise-specific laws; franchises are subject to the same laws that govern other businesses. 52 There is some self-regulation through the British Franchise Association (BFA), Quality Franchise Association (QFA) and the Approved Franchise Association (AFA).
But for now, she says, she needs to focus on BeautiLofts, the businessÂ she partneredÂ on with her cousin four years ago. The company rentsÂ studio space to beauty industry professionals, and Homfeld says it’s a business thatÂ can benefit from everything she’s learned in hospitality.
Startup costs: $1.2 million to $2.9 million. This includes the franchise fee and other startup expenses such as real estate and construction. The costs are slightly lower â€” between $175,000 and $1.8 million â€” for franchisees to acquire an existing Taco Bell restaurant.