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Franchising is a business model that has grown exponentially over the past few decades. It involves a franchisor granting the rights to a franchisee to operate a business using the franchisor’s brand name, business model, and ongoing support. This model offers numerous benefits for both the franchisor and the franchisee, contributing to its popularity across various industries. Here are the key advantages of franchising:
1. Brand Recognition and Customer Acquisition
2. Profitable Business Model
3. Training and Support
4. Economies of Scale
5. Marketing and Advertising
6. Access to Financing
7. Reduced Risk of Failure
8. Rapid Expansion
9. Local Management
10. Innovation and Idea Generation
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