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This question is about careers.
Chain vs. Franchise
The difference between chain and franchise is important in understanding how these businesses primarily function. Both are stores that operate under a known brand name, which allows for many benefits. The ownership of the stores varies greatly.
Chains are stores under the same brand that are all owned by the same parent company, while franchises are stores that may be under the same brand, but are owned and operated by separate individuals who are solely responsible for day-to-day operations.
Key Takeaways:
| Chain | Franchise |
|---|---|
| Ultimately, the parent company is over day-to-day operations | Ultimately, a separate individual is solely responsible for day-to-day operations. |
| Financing is solely through the parent company's lenders or by reinvesting profits. | Franchisees pay initial investment fees and ongoing royalties to sustain the franchise. |
| Higher payroll, as you must hire management to cover all operating roles of the business. | Lower business costs as the owner can act as management. |
| Profits and losses stay within the parent company. | In a franchise model, the franchisor must share both profits and losses with the franchisee. |
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