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A History of Franchises

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Part of the video series: Buying into a Franchise

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Summary: How franchises has evolved over the years. Learn about buying into a franchise, financing, and questions to ask in this free video.

Views: 366 | Tags: buying, financing, into, franchises, opportunities, businesses, franchisers

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Martin Petersen Martin Petersen began his career in graphic arts at MGD Graphic Systems (Rockwell International) in 1972, and since that time, has held executive positions at... read more

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Video Transcript

A History of Franchises

Franchising has been around for at least fifty years now and most of you probably recognize McDonald's as one of the oldest franchises and it goes back in the early sixties and now of course it's world wide success. At the time that they started, the individual would deal directly with the franchisor. There was no third party help and there wasn't any regulation or any provisions from the regulatory side of the US government. Today if you buy a franchise, you have both of those to help you so first though, buying a franchise, you need to realize that this is going to be an investment, it's a commitment on the individual's part. You buy a franchise, a franchisor provides you with a business type, whatever it is, and they support you, they do advertising. You'll sign up and you'll pay fees to them. They'll charge you other fees for processing things. You have options. They'll take care of all your business side, even invoicing if you're willing to pay for that side of it. And so there's lots of services, and lots of support and you need to go through all the details of how this can help you.

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