Franchising
What is Franchising?
Franchising is a concept of expanding your unique, established business name or Brand through multiple business owners by a franchise agreement for a product or service for a limited time. A "Franchisor" establishes equity in its business over time and allows a "Franchisee" to use its brand name, logo and established system for a fee per the terms of a franchise agreement.
Branding
What is Branding?
A "Brand" in simple terms is your promise to your customer differentiating you from your competitor for a similar product or service. It begins from your unique logo portyayed on your business card, on your website, on your letter head, product packaging and all your marketing material. It is a promise of quality for a product or service, what a customer would expect from your unique brand.
Why is Branding important?
The perception built over time as a result of superior quality of your branded product or service builds equity over time. It allows a business to charge more for a similar product due to consistancy in quality for a product or service over a period of time.
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