The term “franchise” refers to a type of business where the franchisee pays a fee to the franchisor in exchange for the right to use the brand name and receive support from the franchisor. Franchises must adhere to tight laws and regulations regarding everything from pricing to marketing to product offerings. Apple doesn’t, however, use a franchise business model. Instead, the business creates, produces, and sells its goods under its own brand.
Let’s go on to the following query: KFC is a well-known fast-food establishment that uses a franchise business model. Depending on the location and size of the restaurant, a KFC franchise might cost anywhere between $1 million and $2 million. Franchisees must additionally pay continuing royalties and advertising costs to the franchisor in addition to the original franchise price.
Popular Indian sweets and snack company Haldiram also uses a franchise business model. Interested parties must fill out an application and fulfill a number of requirements, including owning or renting a suitable property and having a minimum net worth of Rs. 2 crore. Depending on the location and size of the business, a Haldiram franchise might cost anywhere between Rs. 30 lakh and Rs. 1 crore.
Another well-known fast food restaurant that uses a franchise system is Burger King. Interested parties must fulfill specific requirements, such as possessing a minimum net worth of $1.5 million and $500k in liquid assets, in order to receive a Burger King franchise. Depending on the location and size of the store, a Burger King franchise might cost anywhere between $1.2 million and $3.5 million.
Last but not least, Reliance Trends is a company-owned fashion and leisure brand from India. Reliance Trends does not provide franchise opportunities, in contrast to franchises. Instead, the business oversees all facets of its operations, including pricing, marketing, and product offerings.
Apple operates under its own brand name and has complete control over its goods, marketing, and distribution, hence the company is not a franchise. However, there are several franchises on the market, including KFC and Burger King, that provide interested people the chance to run a business under a particular brand name and receive support from the franchisor. Reliance Trends, on the other hand, employs a company-owned business model and doesn’t provide franchising options.