What do household names like Subway, Cinnabon, Jiffy Lube, Ace Hardware, Hertz, Marriott, Dunkin’ Donuts, 7-Eleven, Jimmy Johns and H&R Block all have in common? They’re all franchises — businesses that license out their name, backing, branding and processes to entrepreneurs who want to own a piece of the pie and grow a business without worrying about things like branding and marketing.
A franchise can be a great opportunity for a business owner with some capital to invest in their own and their employees’ future. It gives entrepreneurs an opportunity to partner with some of the biggest brands in the U.S. and provides built-in resources, training and expertise. In exchange for a franchise fee and royalties, they will provide you with support, training, stock, expertise and marketing to launch your franchise quickly.