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These concept began back in the 1850’s when Isaac Singer invented the sewing machine. In order to distribute his machines outside of his geographical area, and also provide training to customers, Singer began selling licenses to entrepreneurs in different parts of the country. Identify the concept and explain it by giving value points to it.

Posted by Nafisa Jalali 4 years, 2 months ago

CBSE > Class 12 > Entrepreneurship

1 answers

Ankita Thakuria 4 years ago

The concept discussed in thee above para is franchising. Franchising is an arrangement whereby the manufacturer or sole distributor of a trandemarked product or service gives exclusive rigts of local distribution to indipendent retailers in return of their payment of royalties and comformance to standardize operating procedures.

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Posted by Manav Sharma 8 months, 2 weeks ago

CBSE > Class 12 > Entrepreneurship