Brandon Woodson 10/08/2010 Business Franchise A franchise is a right granted to an individual or group to market a company’s goods or services within a certain territory or location. Franchising 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. Franchising allows entrepreneurs to be in business for themselves, but not by themselves.
There are many different types of franchises. Many people associate only fast food businesses with franchising. In fact, there are over 120 different types of franchise businesses available today, including automotive, cleaning & maintenance, health & fitness, financial services, and pet-related franchises, just to name a few. I decided to choose the Hampton Inn Franchise, which is ranked at number 4 in the franchise 500 list. The first Hampton Inn opened in Memphis, Tennessee in 1984.
Hampton Inn was the first mid-price national hotel chain to begin offering a free continental breakfast and free local phone calls. In 1995, the Hampton brand introduced Hampton Inn & Suites, which consisted of two-room suite hotel rooms with living rooms and kitchen areas. In 1999, Hampton Inn was acquired by the Hilton Hotels Corporation, which still operates Hampton Inn Hotels till this day. Today there are more than 1,500 Hampton Inn and Hampton Inn & Suites hotels throughout the United States, which employs over 3,000 employees.
The Hampton Inn relates to chapter 5 in many various ways. For one because it’s a franchise in which they are very successful one at that. But however there are still guide lines that each manager of each Hampton Inn must follow along with any other Franchise. Also the manager must share his profit with the company itself too. Franchises have done the honors of allowing thousands of individuals be their own boss and own and operate