What is a Franchise?
A franchise is a legal business relationship between the owner of a business system (which can involve trademarks, trade names, logos, etc) and a person or group that wishes to use the system or identification in their own business. It can be a plan of distribution under which an individually owned business can be operated as though it were part of a larger chain, with the chain having certain products, systems or designs of benefit to the potential buyer of the franchise.
It basically controls how a business is to be contracted between the two parties involved. These two parties are the Franchisee (the person or group coming into the franchise) and the Franchisor (the person or group that owns the franchise).
What is the concept of Franchising?
There are many definitions of franchising. They all describe a relationship where one party (the franchisor) grants to another party (the franchisee) the right to operate a business selling products or services produced or ...
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