Economic Franchise Network

What is a franchise?

Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. In return the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a Franchise Agreement.

The word “franchise” is of Anglo-French derivation—from franc, meaning free—and is used both as a noun and as a (transitive) verb. For the franchisor, use of a franchise system is an alternative business growth strategy, compared to expansion through corporate owned outlets or “chain stores”. Adopting a franchise system business growth strategy for the sale and distribution of goods and services minimizes the franchisor’s capital investment and liability risk.

Economic Network Franchise

The “Franchise Network Economic – FME” project, launched in 2000, is considered to be the most significant project in Economic. Since we are the first domestic company that has introduced a franchise business, we have built a franchise network that currently has 50 stores in all major BiH cities.

The relationship between the Economist and the franchisee

Economic with franchise partners builds a win-win relationship in which both parties are getting. Relations between the Economic and the franchisee are governed by a general franchise agreement that is identical to all franchise recipients. The franchisor’s obligation is to sell at the same retail prices throughout BiH at the price level of the sales center in Vitez.

The key marketing idea is to avoid price competition within the Franchise Network. Franchise recipients can not hold competitive merchandise, unless complementary to the franchise program and with the written consent of Economic.

A common strategy

The Franchise Network is a framework in which all marketing activities are carried out. Each month, an action sale is organized, involving all franchise partners with intense advertising. A traditional prize game, supported by all franchise recipients, is organized every year in the Franchise Network.

Economic continues to expand the network of franchise stores and by this means we invite interested legal entities eligible to acquire the franchisee’s status to get through some of the contacts.

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