What is IFA in franchising?

The International Franchise Association (IFA) is the world’s oldest and largest organization representing franchising worldwide. For over fifty-five years, the IFA has worked to educate Franchisors and Franchisees on beneficial methods and business practices to improve franchising.

What are two types of franchises?

There are two main types of franchising, known as Product Distribution Franchising (Traditional Franchising) and Business Format Franchising, which are conducted under a variety of franchise relationships.

What are types of franchises?

The five major types of franchises are: job franchise, product franchise, business format franchise, investment franchise and conversion franchise.

  • Job Franchise.
  • Product (or Distribution) Franchise.
  • Business Format Franchise.
  • Investment Franchise.
  • Conversion franchise.

How does a franchise work?

A franchise enables you, the investor or franchisee, to operate a business. You pay a franchise fee and you get a format or system developed by the company (franchisor), the right to use the franchisor’s name for a specific number of years and assistance.

How do I get Frenchise?

How to buy a franchise, step by step

  1. Be sure about your reasoning.
  2. Research which franchises you may want to own.
  3. Begin the application process.
  4. Set up your “discovery day” meeting.
  5. Apply for financing.
  6. Review and return your franchise paperwork very carefully.
  7. Buy or rent a location.
  8. Get training and support.

How do you become an IFA member?

How to become a member?

  1. Through affiliation with an IFA Branch in your country;
  2. Through direct membership with the IFA General Secretariat in the case an IFA Branch has not yet been established in your country.

What is the best type of franchise?

Business format franchising is the most popular type of franchise system and the one generally referred to when talking franchising. Businesses from more than 70 industries can be franchised, and the most popular are fast food, retail, restaurant, business services, fitness and other.