Inspired

Franchise A franchise is the name given to a business run by someone who purchases the right to use or sell the products or techniques of a well-known international or national company. Companies that expand their business by offering others the opportunity to do business under their name are known as franchisors . The people or companies purchasing the right to do business under that company name are known as franchisees The owner of well-known business (franchisor) allows individuals (franchisee) to sell a product or service in a specific geographical area for certain payments. It is a way of running a business or means of marketing a business Franchise buys the local right to use a well known name, products and marketing of another company Franchise Agreement The legal contract between a franchisor and a franchisee. It sets out the conditions of the franchise. This usually indicates a description of the franchise, the set-up-costs, the standard of the p