3 credit hours
Franchising is a system for expanding a business and distributing goods and services. It provides an opportunity to operate a business under a recognized brand name. It creates a relationship between the brand owner and the local operator. A franchise occurs when a business licenses its trade name and its operating system to a person or group who agrees to operate according to the terms of a contract. The class will explore franchising from the perspective of both a franchisor (an opportunity to scale a business) and a franchisee (an opportunity to become a business owner). We will discuss both the traditional or product-distribution franchises, and business-format franchises. Students will have an opportunity to interact with both franchise "brokers" and successful franchisors and franchisees. Students will compare and contrast various franchise opportunities and examine Franchise Disclosure Documents.