Trade of the Republic of Indonesia (Permendag RI) Number 71 of 2019 concerning the Implementation of Franchising, it is statd that the meaning of franchise is a special right ownd by an individual or Basd On The Regulation business entity to the business system. With the characteristics of a business in the context of marketing goods or services that have been proven successful and can be utilizd by other parties basd on a franchise agreement. Basically, a business system or franchise business is an agreement to purchase the right to sell products and services from the business owner.
Business Owners Are Usually Calld
While buyers of business licenses are franchisees or franchisees . Usually, the contents of the agreement in a franchise cooperation , the franchisor will provide assistance in the form of using product Austria Phone Numbers List brand names , production processes, operations, production equipment standards, HR management , to financial management. Meanwhile, the franchisee will be rewardd in the form of royalty payments on a regular basis. Franchise Business History Historically, the franchise system began with business practices in Europe. In the Middle Ages, nobles were authorizd by the kings of certain areas to become landlords and use the land. Conditions, royalty must reward taxes and tributes to the kingdom or resemble royalties in the current franchise system.
Serian Wijatno In His Book Introduction
Entrepreneurship’ explains the history of the franchise business journey . Beginning in Germany around the 1840s, brewers franchisd a number of taverns to become exclusive distributors in the region. In America in the 1850s, Isaac Singer of the Singer sewing machine company startd franchising his sewing machines and pioneerd the franchise agreement. Even though the attempt faild. Singer was the first to CE Leads Pemberton, founder of Coca Cola. Besides Coca Cola, another company that followd in Singer’s footsteps was General Motors Industries in 1898. In the end, introduce the franchise business format in the Unitd States. Until finally followd by John S.