Fr

anc
hi
si
ngi
sthe
ref
or
eacommer
ci
alc
ol
la
bor
at
io
nbet
wee
ntwoi
nde
pend
ente
nti
t
ie
sfr
omale
gal
andfi
na
nci
al
poi
nto
fvi
ew:t
he
f
ra
nch
is
oran
dthef
ran
chi
se
e.Mor
ege
ner
al
ly
,weca
nsayt
hat
afra
nch
is
eisanet
wor
kofs
eve
ra
lpo
in
tsofs
al
ebas
edonan
e
st
abl
i
she
dconc
ept
,pr
of
it
ab
lean
drec
ogn
iz
edbyc
ons
umer
s.

Thecr
eat
ionofabu
si
nes
scanso
me t
i
me spr
ov
etobearea
lhe
ada
chea
ndpo
sessi
gni
fi
ca
ntr
is
kstoth
eent
rep
re
neur
.Fr
anc
hi
si
ng
o
ff
ersafa
s t
eran
dmo r
ere
ass
uri
ngso
lut
i
o nwhi
l
eal
lo
wingt
hefr
anc
hi
se
etomai
nt
ainth
ei
rin
dep
end
ence
.In
dee
d,t
han
kstoth
e
f
ra
nchi
se
,yousta
rtatu
rnk
eyac
tiv
it
y,wi
thcommer
ci
al
ma n
age
menta
lr
ead
yex
per
i
e nc
edbyt
hefr
anc
his
or
,whi
chsa
vest
imeand
s
ig
ni
fic
ant
lyred
ucesf
i
nanc
ia
lri
sk
s.

T
her
eareman
yad
van
ta
gesf
orbo
tht
hef
ra
nch
is
eea
ndt
hef
ra
nch
is
or
..
.wi
t
haf
ra
nch
is
eco
nt
ra
ct
,noo
nel
os
es
!Th
us,
fort
he
f
ra
nch
is
ee,
thi
sco
mmer
ci
alc
ol
la
bor
at
io
nal
l
ows
:

 t
oin
te
gr
at
eaf
ra
nch
is
ene
two
rkwh
il
ere
mai
ni
ngl
eg
al
lyi
nd
epe
nde
nt
,ma
nag
in
ghi
sownb
usi
ne
ss
;

 toi
ncr
eas
eit
scha
nce
sofr
esu
lt
san
dtobe
nef
i
tfro
marea
lco
mpet
i
ti
veadv
ant
age
:in
dee
d,t
hef
ran
chi
se
ewi
l
lno
tla
unc
ha
n
ewa c
ti
vi
t
ybutat
est
edac
ti
vi
t
ywhi
chha
sal
re
adypr
ov
eni
ts
el
f.
Ift
heri
ski
snote
qual
to0,
itn
eve
rt
he
le
ssr
ema
in
sin
p
rin
ci
pl
ered
uce
d;

 t
obe
nef
i
tfr
omt
hei
mag
eoft
heb
ran
dan
dth
eno
to
ri
et
yoft
hen
et
wor
k;

 t
oben
efi
tf
ro
mcont
i
nuo
ust
rai
ni
ng
:th
etr
ai
ni
ngo
ff
er
sthefr
anc
hi
seet
hepo
ss
ib
il
i
tyo
fmas
te
ri
ngt
hef
und
ame
nt
al
sof
b
usi
ne
ssman
age
men
t,b
uta
ls
oofkn
owi
ngt
heev
ol
ut
i
onsoft
hepro
fes
si
ono
rle
gi
sl
at
i
ved
eve
lo
pme
nt
s;

 tobe
nef
i
tfr
om“tai
lor
-
made”a
dvi
cea
ndas
si
st
anc
e:t
hepur
pos
eofafr
anc
hi
sei
sno
ttoi
so
la
tef
ran
chi
se
es.
Whet
he
ratt
he
s
tar
toft
hea
cti
vi
tyordu
ri
ngth
efi
nan
ci
al
yea
r,t
hefr
anc
hi
so
rsupp
or
tst
hefr
anc
hi
se
eint
hel
aun
chofh
ispr
oj
ec
tandt
he
d
ail
yman
age
mentofhi
spoi
nto
fsa
le;

 b
ene
fi
tf
ro
mex
cl
us
iv
eop
er
at
in
gri
gh
tsi
nag
iv
ent
er
ri
t
ory
;

 b
et
te
rop
ti
mi
za
ti
ono
fin
ves
tme
nt
s:t
hef
ra
nch
is
eewi
l
lma
ket
hec
api
t
ali
nv
es
te
dmo
rep
ro
fi
ta
bl
e.

The
rear
eals
omoredi
sad
vant
age
sa s
soc
ia
tedwi
thsta
rt
ingafra
nchi
sebu
sin
ess
.Thef
ir
stdi
sa
dva
ntag
eisfi
nanci
al
,t
hecr
eat
i
onofa
f
ra
nchi
sebu
si
nes
sinv
olv
esahig
herin
ves
tmentt
hanacl
a s
si
ccrea
ti
onbec
auseyo
up a
yforac
ces
stoth
eb r
andandkno
w-h
ow(en
tr
y
f
eeth
enroy
al
ti
es
).
Thi
sisthec
ount
erpa
rtofth
eel
ementsmadeava
il
abl
etoyou
.Fo
ranentr
epr
ene
ur,
theus
eo ffr
anc
hi
si
ngcur
bs
i
ni
ti
at
iv
es.
Depe
ndi
ngonth
ec o
nt
entofth
ep r
opo
sedco
ntrac
t,
thefr
anch
is
epart
ner
shi
pcanre
sul
ti
nav er
yst
rongin
teg
ra
ti
onwi
thi
n
t
henet
wor
k,yo
uwil
lhav
etores
pectal
lt
herul
esandst
andar
dsoft
henet
workandwil
lha
vel
it
tl
efr
eedomofact
ion
.Dep
end
in
gon
y
ourpr
ofi
l
e,t
hi
ssupe
rv
is
ionca
nbef r
ust
rat
in
g.