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business Franchises

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Franchises Main Features * In this type of ownership there are 2 main parties involved - the franchisee and the franchisor. * The franchisor (a large organisation) allows the franchisee (the individual) to use the businesses name, product and layout in return for a share of the profits made. Advantages * The business can expand. * Franchisees get the chance to run a business that has a greater chance of success than for example, a sole trader does. This is because if the business name is already well known, for example McDonald's then there is more chance of success. Disadvantages * If the franchisee is inefficient or unsuccessful, the business may receive a bad reputation. * The franchisee cannot make their own decision without the franchisors authorisation. ...read more.


* Membership of a workers co-operative is open to all workers * A workers co-operative tries to ensure that everyone has a say in how the business is run. * Any profit made is distributing to members in a fair way. * Members are in control of the co-operative. Advantages * Because members have a say in the running of the business they are usually happier workers as their views and opinions are heard. * Because the workers co-operative is owned and run by the workforce it is likely that workers will work harder. This is because they are directly affected by the success of the business. * Workers of workers co-operative may be more motivated as they know they will receive a share of any profit made. ...read more.


* Few people have faith in co-operatives so they are not always well supported Retail Co-operative Main Features * Retail co-operative shares its profits amongst its members. * People who own a share of the retail co-operative are called a member. * The first retail co-operative was set up in Rochdale in 1844. It bought goods at wholesale prices and sold it to members at the market price. Advantages * Retail co-operative is owned and run by the whole work force so there will be no arguments between the owners and workers as they are the same people. * Members have a greater sense of responsibility and will work harder to achieve success. Disadvantages * Few people have faith in co-operatives so they are not always well supported. * Poor planning, management and financial control may be evident due to the lack of skills of the workers. ...read more.

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