You’re always telling your friends that you drink so many triple mocha lattes from that national coffee chain, that it would probably be cheaper for you to just own a branch. But have you ever thought about making that idea (or in some cases, that threat) a reality? Owning a franchise is a growing trend among women entrepreneurs, and it might just be the right business step for you.
After working at a fitness studio during college, Maureen McFillin knew that she wanted to own a similar business of her own. Just a few years later, McFillin is a franchise owner of Slim and Tone Express Fitness and Weight Loss Studio for Women, an affiliate of NutriSystem.
McFillin is joining the ranks of many women seeking to start their own businesses, which includes the many women who are becoming partners in the booming business of franchises.
But what exactly is a franchise? A franchise is defined as the authorization given to someone to sell or distribute a company’s goods or services in a designated area. But when a company allows someone to “buy” their company name for the purpose of selling a product, it often comes with strict stipulations. So, while McFillin may be the owner of her own business, she is required by contract to sell only NutriSystem services and products.
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