QuestionJune 8, 2025

What's the difference between a franchise and a national firm? Membership in the National Association of REALTORS@ The ownership The size of firm The training

What's the difference between a franchise and a national firm? Membership in the National Association of REALTORS@ The ownership The size of firm The training
What's the difference between a franchise and a national firm?
Membership in the National Association of REALTORS@
The ownership
The size of firm
The training

Solution
4.5(201 votes)

Answer

The differences lie in ownership (franchisee vs. corporate), potential size variations, and training methods. Membership in the National Association of REALTORS® can apply to both, depending on qualifications. Explanation 1. Define Franchise A franchise is a business model where individuals purchase the rights to operate under an established brand, following specific guidelines and systems. 2. Define National Firm A national firm operates across multiple regions or states under a single corporate ownership, maintaining consistent policies and practices. 3. Membership in the National Association of REALTORS® Both franchises and national firms can have membership in the National Association of REALTORS®, depending on individual qualifications. 4. Ownership Franchises are owned by individual franchisees who pay for the rights to use the brand. National firms are owned centrally by a corporation. 5. Size of Firm National firms tend to be larger with centralized operations, while franchises vary in size based on individual franchisee operations. 6. Training Franchises often provide standardized training programs for franchisees. National firms typically offer centralized training for all employees.

Explanation

1. Define Franchise<br /> A franchise is a business model where individuals purchase the rights to operate under an established brand, following specific guidelines and systems.<br />2. Define National Firm<br /> A national firm operates across multiple regions or states under a single corporate ownership, maintaining consistent policies and practices.<br />3. Membership in the National Association of REALTORS®<br /> Both franchises and national firms can have membership in the National Association of REALTORS®, depending on individual qualifications.<br />4. Ownership<br /> Franchises are owned by individual franchisees who pay for the rights to use the brand. National firms are owned centrally by a corporation.<br />5. Size of Firm<br /> National firms tend to be larger with centralized operations, while franchises vary in size based on individual franchisee operations.<br />6. Training<br /> Franchises often provide standardized training programs for franchisees. National firms typically offer centralized training for all employees.
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