11-20-08 - Entrepreneurship - Class Notes 11/20/08...

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Entrepreneurship - Class Notes – 11/20/08 Franchise – a license for a product/service given to a franchisee to implement the business concept Franchise disclosure document (FDD) Franchisors are regulated by the Federal Trade Commission FranNet International consulting firm Why Own Your Own Business? Independence o Fulfillment o Create an Asset – NOT BUYING A JOB o Flexibility Control Financial security No more layoffs Money What is it for you? Going to work for someone is safe? In the short term, yes! The Perception of Risk At first, owning your own business can be scary, but if you succeed: No one can take it away – you can’t be downsized, right-sized You can build the business large or small Business Axiom : The longer you own a successful business, the greater the security
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FRANCHISING FACTS Over $1.0 Trillion Dollar business Only 12% of units are franchised Franchised units gets 43% of the $$
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This note was uploaded on 06/03/2009 for the course ECON 290 taught by Professor Goldenandallison during the Fall '08 term at Allegheny.

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11-20-08 - Entrepreneurship - Class Notes 11/20/08...

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