Franchising is better than starting a new business
Franchising means an arrangement in which the owner of a brand allows an individual to do some business under that name. For this, the buyer or franchisee needs to pay a fee to the owner or franchisor. This is a perfect way to start a business because it minimises the investment risk to a great extent.
The average franchise package includes things which are essential to start the business and run it successfully. It also includes activities such as training, information about your customer base and a license to use the name of the company in your business operations. Moreover, the franchisor also helps the franchisee to know about the equipment, raw materials, promotional material and supplies.
In order to prevent having too many franchisees within the same locality competing for the same customer base, franchises generally divide the country into different areas and allow you to buy the rights for one particular area. That said, all franchises operate differently and it will depend upon the franchise in question.