Business model is a company's plan for making profit. Helps attract investment, recruit talent, and motivate management. Regular updates needed to anticipate trends and challenges
Franchisee is an independent business owner operating a third-party retail outlet. Franchisee purchases rights to use parent company's trademarks and brands. Franchisees pay fees and receive support from franchisor
Founded in 1940 by Richard and Maurice McDonald in California. Ray Kroc opened first franchise in Des Plaines, Illinois in 1955. Currently operates over 38,000 locations in 100+ countries. 93% of locations are owned by independent local business owners
KFC is a global fast food chain with 22,621 locations in 150 countries. Founded by Colonel Harland Sanders in 1952 as Kentucky Fried Chicken. Currently operates as subsidiary of Yum! Brands, which owns Pizza Hut and Taco Bell
Kurt Ziebart invented automotive rustproofing process while working in Detroit. Founded Auto Rustproofing Company in 1959 with two investors. First international location opened in Windsor, Ontario in 1962
Handyman is skilled in various repairs for buildings and equipment. Includes both interior and exterior repairs, plumbing, and electrical work. Can be performed by both paid workers and unpaid homeowners