THOUGHT FOR THE DAY

Wisdom

"Common sense in an uncommon degree is what the world calls wisdom."

- Samuel Taylor Coleridge

TOPIC OF THE DAY

Franchises

Franchises, also known as chain stores, are businesses operated under a special arrangement. Franchises are moderated industries that follow a set business model, which includes a name, an image, and a set of support services. In exchange for a set-up price and a monthly royalty payment, the franchiser, who owns the trademark of a company, licenses the brand to somebody. The buyer then opens the business and operates it, but the franchises always belong to the original creator. Examples of successful franchises include Gold's Gym® and Dunkin' Donuts®. For somebody considering franchises as a business investment, there are many advantages and disadvantages that should be kept in mind.

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