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Mark repeatedly failed at school and was retained twice. He began to believe that nothing he did would improve his grades, so he gave up easily on assignments and tests and eventually dropped out of school in the tenth grade. Mark's school experience illustrates the concept of
Franchise System
A method of doing business whereby a franchisor licenses trademarks and proven methods of doing business to a franchisee in exchange for a recurring payment, and often a percentage of the franchisee's revenue.
Franchise Relationship Model (FRM)
A business model where a franchisor licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee.
Best Efforts
A commitment to exert the utmost effort to achieve a specified objective within the constraints of the situation, without guaranteeing the outcome.
Franchise Marketing
A strategy for promoting and selling franchise opportunities to potential franchisees, expanding the brand's reach.
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