understanding the importance and concept of franchising, the different types of franchises, the benefits and limitations of buying a franchise, the legal aspects and protection offered by the FTC’s Trade Regulation Rule, the right way to buy a franchise

3.1 Learning Outcomes:
Explain the importance of franchising in the U.S. and global economy.
Define the concept of franchising.
Describe the different types of franchises.
Describe the benefits and limitations of buying a franchise.
Describe the legal aspects of franchising, including the protection offered by the FTC’s Trade Regulation Rule.
Explain the right way to buy a franchise.
Describe a typical franchise contract and its primary provisions.
Explain current trends shaping franchising
3.2 Action Required:
Watch the short video at the following link
www.youtube.com/watch?v=TWh7yrOqPpo – YouTube
3.3 Test your Knowledge (Question):
Discuss the benefits of franchising to the franchisee.
3.4 Instructions
Answer the question available in the “Test your Knowledge” section.
Post your answer in the discussion board using the discussion link below