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Chapter 1 Lesson 2: 5 Important Franchise Terms to Know When Buying a Franchise
When buying a franchise you will become involved in a legal and business due diligence process – and along the way, there are some important “terms” that you will need to know. In this video, Charles Internicola discusses important franchise terms that you need to know as you progress through this video series and in the franchise purchasing process.
In this video you will gain a better understanding about terms such as:
- What it means to be a “franchisor”;
- The significance of becoming a “franchisee”;
- Why you need to know about “protected territories” and whether or not you will be getting one;
- What is a “franchise fee”; and
- What are “royalties”.
What is the Franchisor / Franchisee Relationship?
Watch Lesson 3 here.